Tag Archives: Commercial News

Real estate boom to help develop facilities management services market in India

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india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, india news, property news, real estate news, India Property, Delhi NCR real estate, Mumbai Real Estate, Bangalore Real Estate, Pune Real Estate news,Track2Media, Track2Realty, ravi sinha Netscribes, a knowledge consulting solutions company, announces the launch of its report Facilities Management Services Market in India 2012. Facilities management services market in India has been growing steadily over the years and is set to witness rapid growth over the next five years. It is a highly fragmented industry with few organized players and mostly unorganized small operators. The market is poised for strong growth owing to the booming real estate sector in India.The report begins with an introduction to facilities management services, including hard services and soft services. Facility management services imply the use of third-party service providers to maintain part of the building facility or outsourcing the management to an organization that executes this service professionally. This section also throws light on the various applications of facility management services such as retail and shopping malls, hotels, hospitals, banks, corporate houses, IT and ITES companies, manufacturing firms and others.

This is followed by the market overview section that gives an insight into the facilities management services market in India, its market size and growth, along with the split between organized and unorganized market. Low organized penetration of facilities management services in India leaves huge potential for players to develop this market. Geographic distribution and region wise market split of facilities management services has been provided. The organised market is mostly concentrated in and around metros and big cities while the unorganized market covers the facilities management requirements in tier I and tier II cities. The section also includes the facility management services supply chain consisting of different types of suppliers with varied service offerings. Additionally, an analysis of Porter’s Five Forces provides an insight into the competitive intensity and attractiveness of the market.

An analysis of the drivers and challenges explains the factors leading to the growth of the market including boom in real estate, rise in infrastructural development, growth in retail sector, growth of hospitality sector and improving healthcare scenario. The key challenges identified are shortage of manpower and large unorganized segment.

Key trends in the market have also been analysed which includes evolving project management and general contracting services, development of facilities management training and education, and investments and M&A activity in the facilities management sector.

The competition section provides an overview of the competitive landscape in the market and includes a detailed profile of the major players. A bubble chart for the private players, depicting their relative positions in the market with respect to their total income, net profit/loss and total assets is included. This section also includes a list of products and services, key people, financial snapshot, key ratios and key recent developments for all companies, along with key business segments and key geographic segments for public companies. The report concludes with a section on strategic recommendations which comprises of an analysis of the growth strategies of the facilities management services market in India.

Hyderabad real estate update Q1 2012

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Sandip Patnaik, Managing Director – Hyderabad, Jones Lang LaSalle India

india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, india news, property news, real estate news, India Property, Delhi NCR real estate, Mumbai Real Estate, Bangalore Real Estate, Pune Real Estate newsResidential Real Estate

Residential property buyer sentiments in Hyderabad have improved considerably over the last three quarters. There has been a gradual but certain increase in residential demand and absorption. That said, the market is still a long way from touching the 2007- 2008 levels.

There has been a marked increase in activity by developers scouting for suitable land parcels for residential development. More than anything else, this is a convincing indication that they want to proceed with their expansion plans and not hold on to their land, which had more or less been the trend since 2008-2009.

We definitely expect an increase in PE investments into residential real estate projects in Hyderabad in 2012. Until now, institutional capital flows had been slow in Hyderabad when compared to some of the other cities. The reasons for this were specific to the period:

  • In 2007-2008, the main reason was high valuations
  • In 2008- 2010, the global financial crisis was clearly the culprit
  • In 2010- 2011, the state-level political scenario depressed institutional investment sentiments

At this point in time, the real estate valuations are once again making sense, and developers as well as end users are once again in action mode. There is every reason to believe that the political scenario will take a turn for the favourable for PE investment in 2012-2013.

On the more sombre side, it also looks like residential supply is likely to outstrip demand in the foreseeable future. There is clearly a supply–demand mismatch, and unsold inventory is quite high. This fact will definitely have an impact on residential property pricing in the mid-term. That said, there are also going to be selective price rises for projects in high-demand locations having good amenities.

Commercial Real Estate

The commercial real estate sector in Hyderabad has reacted very differently from the residential sector over the past few years. In 2008-2009, the Grade A office space absorption in the city stood at approximately 2.2 million square feet. Thereafter, in 2010 and 2011, Hyderabad saw absorption of 4.4 to 5.0 million square feet year on year. This clearly indicates that corporate client did not let the political scenario upset their expansion plans in Hyderabad. In fact, all our large corporate clients such as Cognizant & Accenture have expanded their office bases over last 2 to 3 years.

What is worrisome is the fact that very few new companies have set up their base in Hyderabad over last couple of years. Notable exceptions would be JP Morgan and Facebook, along with a handful of others. Almost 90–95% of the city’s commercial real estate absorption has been via expansion of existing companies.

In 2012, the lack of SEZ supply will result in city absorption being lower than in 2010 and 2011. There is a huge supply of STPI/Commercial space available for corporates amounting to approximately 4.5–5.0 million square feet, but as 50-60% of the absorption is in SEZs, landlords and developers owning STPI/Commercial spaces might feel the pressure of unsold and un-leased inventory.

Consim Info to expand footprint in online property market

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Economic Survey, Real estate survey, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyConsim Info Pvt. Ltd with online brands such as BharatMatrimony.com, IndiaProperty.com, EliteMatrimony.com and PrivilegeMatrimony.com has announced plans to expand its footprint in the online property business. The company said it will increase market focus in the Western and Northern regions and expand Indiaproperty’s current market leader position across all four southern states to these markets, as a part of its growth strategy.

Consim Info has also repositioned Indiaproperty.com  and announced marketing spends of  20 crores for the current financial year to support its expansion plans and unveiled its new look portal with advanced first time ever features such as video interviews with builders and developers, virtual property tours and online fairs and its new advertisement, kick starting the new marketing campaign.

Speaking at a press briefing held in Mumbai, Murugavel Janakiraman, Founder & CEO, Consim Info Pvt Ltd, said, “Our property portal business has been witnessing significant growth in alignment with the surging demand for new property and we believe the time is right for us to leverage our experience in online businesses and establish our leadership in this area as well.  We recently crossed the 1.5 million mark in registered users with 250,000 unique daily visitors and more than a million page views a day, establishing us as the number one property portal in the country. Our increased business focus in this area and strengthening of the senior management of Indiaproperty, should help us scale new heights this year.”

Detailing the growth plans, Ganesh Vasudevan, Vice-president and Business Head, Indiaproperty.com said, “IndiaProperty has been growing at over 100% over the last year in terms of revenue and number of projects and this growth has been lead by the Western region. The company is exploring strategic partnerships with builders and agents in the state and is in advanced talks to sign exclusive marketing agreements. We expect the Western and Northern markets to contribute to nearly 50 % of our revenues this year and these are key geographies for us in our expansion plans. Our sales and service delivery teams are being strengthened in alignment to our growth plans.”

PE Analytics plans to launch Real Estate Index

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Economic Survey, Real estate survey, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyNew Delhi-based research firm PE Analytics has drawn up plans to launch Real Estate Price Index in partnership with a leading commodity exchange.

PE Analytics owns and operates PropEquity, an online subscription-based real estate data and analytics portal covering over 27,000 projects of 5,100 developers across 40 cities in India. The data and analytics enable clients to spot market trends and maximise risk-adjusted returns.

“We are launching the First Residential and Commercial Indices based on transaction prices in partnership with the leading commodity exchange shortly after a nod from the Government,” PE Analytics CEO Samir Jasuja told PTI in Mumbai.

These indices will be based on the actual transaction and registration values prevailing in various micro-markets for the residential and commercial asset classes.

PropEquity is collaborating with India’s banking and finance regulatory body and the country’s largest commodity exchange to develop housing starts and realty indices.

The indices will be the barometer for measurement of the real estate sector performance and will also enable trade on the exchange. The company is looking at September 2011 to go live with this product offering, Jasuja said.

PropEquity has created products that are unique in the Indian context, and which have been validated through the market and with marquee customers, he said.

With future plans already underway, Jasuja envisions PropEquity as a pan-Asia product and intends to raise a second round of funding for the company in 2011.

Hiked interest rates – Impact on the real estate sector

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Track2Media, Track2Realty, India Real Estate News, real estate news india, india property news, india property investment news, Jones Lang LaSalle India, India Realty news, realty news india, india property news, property news indiaIt has always been axiomatic that when financial institutions raise their lending rates, there are bound to be ripples on the highly cost-sensitive Indian real estate market. The latest rate hike obviously means that  the cost of construction has gone up for developers, and this move by the RBI certainly does not come at the best of times for them. Banks have already taken a cautious approach to real estate lending and reduced their exposure to the sector, and most developers are now prevailed upon to raise a larger component of their construction costs from the private sector. The fact that such funds come at a higher cost of borrowing has already increased their construction costs significantly.

It would be logical to assume that, hoping to maintain their profit margins under such circumstances, developers would not hesitate to mark the incremental burden to buyers. This would certainly happen if buyer sentiments and resultant market activity were high enough to accommodate such a move.

However, the market for residential real estate is far from effervescent at the moment. In a scenario where staying competitive and selling stock is of utmost essence, developers are unlikely to increase the cost of their units and thereby risk losing more customers. While this will certainly impact their revenues to an extent, most developers do see a sufficient profitability quotient to make a strategic decision on this count.

On the buyer side, the low-to-mid income segments are invariably the most affected by a hike in home loan interest rates. That said, the impact of increased cost of borrowing is not as severe as that of the decreased allowable percentage of borrowing. Where this used to be at a steady 85% of the overall cost of the property, most banks are not extending more than 75% now. The fact that the salaried class now have to supply a higher contribution to the cost of their homes that is having a very tangible impact on demand.

The author, Ashutosh Limaye, is Local Director – Strategic Consulting, Jones Lang LaSalle India

TCG-Vornado fund to invest Rs 270 crore in NCR, Mumbai projects

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Eldeco Meadows, Real Estate Investment, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyIndia Property Fund, managed by NRI investor Purnendu Chatterjee’s TCG Real Estate and US-based Vornado Realty Trust, is in the final stages of investing Rs.270 crore in two residential developments in national capital region and Mumbai.

The fund will invest Rs.150 crore and Rs.120 crore in housing projects in Mumbai and Noida, respectively, and pick up 40-45 per cent in each of the projects, according to the sources close to the development.

“The $ 400 million Fund works with land-owners, state governments and developers (particularly mid-size developers who lack both capital and management talent) to develop international-quality real estate products, which cater to the high demand sectors of the industry. The Fund takes both controlling and minority positions,” says TCG Real Estate’s website.

The Fund also looks at investing in related sectors such as construction, mortgage financing and infrastructure. The Fund invests between $ 5 million to $ 50 million in each investment, the post says. TCG Real Estate is the property development and investment arm of Purnendu Chatterjee’s The Chatterjee Group

Property developers are increasingly turning towards private equity funds for financing their projects as commercial banks have tightened their lending to real estate.

“With fresh lending remaining tight, PE players have started to get busy, as all developers have begun to offer good quality assets to raise project level PE fundings,” say analysts from Enam Securities in a recent report.

Goa property exhibition to showcase 200 projects

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Goa Real estate news, Goa property news, Delhi NCR real estate, Bangalore Real Estate, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Mumbai Real Estate, India PropertyFor those searching for their home sweet home in Goa, there’s a treat in store this Akshaya Tritaya. Twenty-one property developers and one finance company will come together under one roof to showcase about 200 projects under way across Goa.

An initiative of The Times of India, ‘Times Homes’ will be on exhibition on Friday and Saturday at Hotel Fidalgo. Projects ranging from single-bedroom apartments to penthouses and luxury villas, and ranging in price from 20-25 lakh to several crore will be on display.

Information on housing loan options and how to avail the same will also be available at the exhibition. “It’s a win-win situation for buyers,” says president, Confederation of Real Estate Developers in India (CREDAI), Goa, Nilesh Salkar.

“They can zero in on the best buy for what they are looking for as a dream home and they can even find out about home loans,” he added.

The two-day exhibition will highlight projects in urban areas such as Panaji, Vasco, Margao and Mapusa; fast-growing suburbs like Porvorim and Dona Paula; and idyllic locales of Canacona, Siolim, Pilerne, Old Goa and Calangute among others.

The property developers participating are Horizon Land Developments, Mathias Construction, Milroc, Palacio and Emgee Group, K Raheja Corp, Madkaikar Realtors, Sunteck Kanaka, Sukhthanker Associates, Vision Enterprises, Susheela Homes & Properties, Umiya Group, Highland Constructions, Gera Developments, Crossroads Realtors, Classic Squares, Bharat Developers and Realtors, B&F Realty, Ashray Real Estate Developers, Adwalpalkar’s Constructions, Anand Bose Constructions, and Acron Developers. State Bank of India will provide information on loans.

Tata Housing bags CNBC Awaaz Crisil CREDAI Real Estate Award 2011

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Tata Housing, Ratan Tata, Brotin Banerjee, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyTATA Housing Development Co. Ltd. has been awarded CNBC Awaaz Crisil CREDAI Real Estate Award 2011 for Integrated Sub Urban Developer at the 11th National Conference of Confederation of Real Estate Developer’s Association of India in Singapore. The award was handed over by the Minister for Urban Development, Kamal Nath, to the Managing Director & CEO, Brotin Banerjee at a glittering Awards ceremony at Hotel Marina Bay Sands.

Commenting on the achievement, Mr. Brotin Banerjee, CEO & MD, Tata Housing Development Company Limited, said, “At Tata Housing, it’s our constant endeavor to create benchmark projects across all segments on a pan-India level, based on the consumer’s needs and requirement. This Award is a testimony of our success in providing the best in class integrated sustainable projects. We are extremely happy to receive this award and it will strengthen our commitment to create landmark projects across the country.”

The Real Estate Awards recognizes individuals and various corporates whose excellence and achievements have set a benchmark within the industry. The awards also seek to acknowledge the magnificent architecture and intricate interiors of the Indian industry which have gained recognition globally.

CREDAI demands comprehensive real estate law

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Chennai Real estate, CREDAI Chennai, Tidel Park Chennai, IT Parks Tamil Nadu, Tamil Nadu Real Estate, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyThe Confederation of Real Estate Developers’ Association of India (CREDAI) demands the proposed law to regulate the development of India’s real estate sector must be comprehensive to address the interests and responsibilities of all stakeholders.

General consensus on these lines was reached by the CREDAI at its 11th national convention in Singapore on Friday. The two-day meeting, inaugurated by Union Urban Development Minister Kamal Nath on Thursday, was presided over by CREDAI Chairman Pradeep Jain and President Lalit Kumar Jain.

In a briefing after the convention, CREDAI Secretary T Chitty Babu said the draft bill, as initiated by the Centre, was now focussed primarily on the responsibilities of the real estate developers. The proposed law should, instead, be “comprehensive in scope,” covering all stakeholders, he emphasised.

Besides the various governments and local authorities with the power to grant approvals for constructions, the other stakeholders were the real estate developers and the buyers of homes and offices plus the agencies in the business of funding projects and purchases. So, it was essential that all these stakeholders must be held accountable under any legislation for the proper administration of the real estate sector, said Chitty Babu.

The CREDAI conference discussed various aspects such as speed and efficiency as also innovation and technology for the modernisation of Indian realty. The construction of the Indira Gandhi International Airport in Delhi as a case study and the making of iconic buildings in other parts of the world also received attention.

Awards were presented by Mr. Kamal Nath to various real estate developers in a number of categories.

Focus on affordable housing at CREDAI Bangalore exhibition

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CREDAI, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyThe annual CREDAI Realty Expo organized by the Confederation of Real Estate Developers Associations of India (CREDAI) kicked off on Saturday with hundreds of prospective property buyers thronging the exhibition at Palace Grounds.
This year, the expo has more than 50 leading property developers and a handful of housing financial institutions participating.

Among the prominent builders which participated in the expo are Mantri Developers,  Sobha Developers, Puravankara, and August Ventures. The expo was inaugurated by Bangalore Development Authority Commissioner Bharath Lal Meena. Also present were Sushil Mantri, President CREDAI Karnataka, S Faisal Rizvi, Jt Secretary, CREDAI Karnataka.

Sushil Mantri said that with the recession of 2008-09 well over, the real estate sector in Bangalore was on an upswing again. “Demand for real estate is at an all time high with customers looking for high quality housing”, he said.

He added that both luxury and affordable housing were seeing an upswing, with new projects launched almost one per day.

This year’s expo will continue last year’s focus on affordable housing as the real estate sector has rebounded significantly. The affordable housing segment is targeting prospective home owners who are looking at investing in the range of Rs.20 lakh to Rs.50 lakh.

Property watchers in the city say the affordable housing options seem particularly appealing this year. “I cannot afford to invest in the luxury apartments that are on offer, but the affordable housing options seem particularly attractive. Instead of shelling out a rent of Rs.20,000 every month, it makes more sense for me to purchase a house on a mortgage. At the end of it, I will own a house at least”, said a visitor.

Joshua Samuel, a MNC executive, said he was also interested in some of the affordable housing options, especially on the higher end. “Bangalore is still an affordable city compared to Mumbai or even Delhi. Purchasing a flat here is quite an attractive proposition”, he says.

The expo is being held on a 60,000 square feet air conditioned expo area at Gayatri Vihar, Palace Grounds. Besides offers from developers, the expo will feature financial institutions offering housing loans. There will also be seminars by banks, vaastu experts, and legal experts to answer the queries of prospective home owners.

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