realestate2022

Bandra-Kurla Complex turning into India’s most happening business cum leisure hub;  MMRDA set to add to it Rs 1,000 cr road project boost One elevated road will stretch from Dharavi to the Bandra Worli Sea Link cutting through the mangrove forest; in addition, two flyovers of two lanes each will run from the sea link into the complex.  Dharavi, Bandra Worli Sea Link, India, Maharashtra One elevated road will stretch from Dharavi to the Bandra Worli Sea Link cutting through the mangrove forest. Even as Bandra Kurla Complex is fast becoming the country’s most happening business-cum-leisure hub, the Mumbai Metropolitan Region Development Authority (MMRDA) is rolling out a Rs 1,000-crore road project to ensure cars moving in and out of the area aren’t caught up in traffic jams. UPS Madan, commissioner, MMRDA, says the idea is to have three elevated roads and two flyovers connecting BKC to different parts of Mumbai. One elevated road will stretch from Dharavi to the Bandra Worli Se...

‘RERA and GST will be determining factors for realty’ Residential real estate market in the country is expected to see some uptrend with improved buyer sentiment towards the second half of 2017. The Real Estate Regulation Act (RERA) and GST will improve the sentiments, says Dr Samantak Das, Chief Economist & National Director (Research) -  MRICS,  at real estate consultancy major Knight Frank. In an interview to BusinessLine, Das talks about the property market outlook for the year. Please tell us the performance of the residential property market so far this year. The January-June period was quite eventful with the focus being on affordable housing. Interest subvention was announced, RERA was rolled out and the GST regime kicked in. But, in this period, there has been a drastic fall in new launches. New launches came down by 41 per cent (year-on-year) in the top eight cities that include Kolkata, NCR, Pune, Mumbai (including Thane and Navi Mumbai), Ahmedabad, Chennai, Ben...

Office leasing continues to remain strong: Report In Q2, 2017; Over 10 million sq.ft. take up recorded The leasing activity for prime office space across key cities in India continues to remain strong with absorption crossing 10 million sq ft during the April-June 2017 period , according to real estate consulting firm CBRE’s latest report. The India Office MarketView Report – Q2, 2017, said that this is a 28 per cent increase over Q1 2017 and signals the continued growth of the segment. The implementation of policy initiatives like RERA is beginning to have a positive impact on the overall real estate market. Driving force Sectors driving corporate leasing activity continued to be IT/ITeS, BFSI and Engineering & Manufacturing. Similar to earlier quarters, leasing activity was driven by small and medium-sized transactions (<50,000 sq ft) accounting for almost 90 per cent of all transactions reported in Q2 2017. During the quarter, leasing activity was led primarily by Bengaluru, ...

'Around 900 REIT-worthy assets ready for listing' About 900 REIT-worthy Grade A commercial assets equalling 280 million square feet are currently available across India’s key cities and awaiting deployment into India’s REIT market. “Also, commercial real estate is perking up significantly in 2017 and we expect a net absorption of 34.3 million square feet this year on the back of returning IT/ITeS demand, as opposed to 33.4 million square feet in 2016,” said Ramesh Nair - CEO & Country Head, JLL India. Releasing JLL’s report on ‘The Turning Point of India Real Estate: Decoding Opportunities, Trends and Insights to Maneuver the Curve Ahead’ at the 9th CII Realty Conclave 2017, Nair said Indeed, these are just glimpses of the radical positive changes currently influencing the Indian property industry – the sector is at the cusp of significant change in 2017. Source :- The Hindu Business Line

Global Property Consultancies eye Project Management Services opportunity in India Players like Knight Frank, JLL, Savills and Colliers are among those focusing on the PMC business.International property consultancies are renewing their focus on project management services (PMC) in India. With both government and private sector driving economic development, IPCs see potential in unlocking value from project management services. “Project management services is a large and emerging business opportunity. We will be undertaking both small and large PMC projects,” Bhavin Thakker, Country Manager, Tenant Representation, Savills India, the Indian arm of the UK-based entity, said. Anurag Mathur, CEO, Project & Development Services, JLL India, said, “A supportive politico-economic climate has fostered favourable conditions for more and more large MNCs to set up operations in India. Various initiatives like Skill India, Make in India, Start-up India, etc. that have been launched by the gover...