Tag Archives: Prestige Golfshire

Affordable properties lose sheen while luxury picks up: Magicbricks’ PropIndex

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Prestige Golfshire, Bangalore Real Estate, Track2Media, Delhi NCR real estate, 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 PropertyTrack2Realty: Buyers remained cautious but searched well for aspirational homes. Developers remained restrained but projects reached completion stages as all segments of the market prepared for a growth phase in Indian property market, aligned to the political optimism in India.

The first edition of Magicbricks’ PropIndex, Volume IV (Apr-Jun 2014) reported a largely stable matrix of demand and supply, reflecting little change in index values. However, while Delhi’s city index dropped by 4 per cent, the highest in quarter predictably the National index remained stable, up by 1 per cent.

The highlight of the PropIndex however, was the drop in demand for affordable properties (budget range of Rs up to Rs 20 lakh) which remained significantly low at the national level (1%). Even at city levels, demand in this category fluctuated between a modest 1-5 per cent. As a result, supply in the segment led the existing demand in almost all cities, contrary to the industry buzz that the category is undersupplied and in greater demand, reports Magicbricks.  

The gap between demand and supply was most glaring in the southern cities of Chennai and Hyderabad. While an over-supply of 17-19 per cent was noted in these two cities, Bangalore also recorded an over-supply of 8 per cent. The gap was limited to 3-4 per cent in other cities like Mumbai, Pune and Delhi. While Gurgaon was the only city where demand and supply was almost matched according to the Magicbricks PropIndex.

In contrast, the demand for luxury properties at the national level inched up to almost 30 per cent for properties priced at Rs 1 crore and above. However, even though demand has moved up, the luxury segment remains over-supplied in almost all cities states the Magicbicks report. Noida, Gurgaon and Ghaziabad were the only exceptions. While in Noida and Gurgaon, supply matched demand in the category, in Ghaziabad supply lagged behind the demand by 11 per cent.

At least a quarter of the city-wise demand was for the Rs 30-50 lakh category, showing that the middle class remained active and willing to buy.

Rental values across cities either dropped or stabilised in this quarter as compared to the Jan-Mar 2014 quarter. This is in direct contrast to the previous quarter, where PropIndex showed rental markets had witnessed a hike of 5-10 per cent approximately. As sales enquiries rose, rental demand posted a corresponding drop. According to Magicbricks, rental values dropped by approximately 5-6 per cent across cities in different localities.

The PropIndex states that the  2BHK unit remained the most popular category across cities,  combined affordability and came packaged with facilities, this reflects the aspiration of urban dwellers to own a property that would match their lifestyles.

Jayashree Kurup, Research Head, Magicbricks remarked, “With the recently announced Budget addressing several pressing issues of the housing sector has infused some positive sentiments in the market, the real impact of the same would be visible only after these measures are implemented.”

Demand preferences remained unchanged from the previous quarter’s PropIndex report, but were not evenly spread across the city. Locations near economic corridors continued to post greater demand. However, unlike the previous quarter, besides IT, the manufacturing sector too, drove demand in some cities, such as Chennai.

Luxury projects a flagship for brand value of developers-I

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Prestige Golfshire, Bangalore Real Estate, Track2Media, Delhi NCR real estate, 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 PropertyTrack2Realty Exclusive: Crème de la crème real estate project for the upscale and upmarket buyers is an ambition that is driving the developers across the country. It seems the Indian real estate has woken up to the reality that the destination of brand positioning is ‘luxury’ and as Track2Realty finds, in this rat race the term is so over-used and abused that it has lost its relevance. From high-end condominiums to affordable, the tag of luxury seems to be the biggest brand driver for the sector.

In a competitive real estate market where the housing shortage may be in the affordable or mid segment apartments, luxury projects are on a roll. It seems every developer in the last few years has been on luxury launches spree, even if the company has been traditionally known for slum rehabilitation.

This may defy the conventional demand-supply wisdom of economics, but the fact of the matter is that luxury projects are seen as flagship for brand value of developers, hence adding premium to their overall project portfolio. To add to it, profit per apartment is much higher in this segment and investors with deep pockets seem to bet over luxury projects for better appreciation in the long term.

This raises a fundamental question whether Indian real estate, of late, is obsessed with luxury. If the luxury launches in the last few years by developers across the country, often repositioning themselves into this segment, is any indication, it seems this obsession has made the term ‘luxury’ as an over used and abused term as well. From the top of the demand pyramid to newly coined term ‘affordable luxury’ it is made to believe the Indian homes buyers want nothing less than luxury.

DLF which has to its credit the development of luxury projects in Gurgaon with the philosophy of ‘Live, Work * Play’ points out that luxury has to be holistic in its essence. One can not enjoy luxury living by just living in a luxury apartment and working in a depleted old building as office. Nor will MNCs prefer that kind of a destination. DLF spokesperson Sanjey Roy, however, maintains that real estate, like any other business, is demand driven and there is nothing like luxury projects being over supplied in the market.

“Though I agree that the term ‘luxury’ is being used very liberally nowadays, yet buyers in this segment are so discerning and demanding that a seasoned developer can not afford to fool around. You can not have some décor around a low cost project and call it affordable luxury. This segment of housing is more competitive than any other segment. Moreover, since luxury is about overall ambience and not just a costly & fancy apartment, it has to have connection with the location. A location with no thriving economic activity and prosperous habitation can not afford to have luxury living,” says Roy.

…to be continued

India among top 20 global real estate investment markets

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Prestige Golfshire, Bangalore Real Estate, Track2Media, Delhi NCR real estate, 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 PropertyTrack2Realty: India was ranked 20th among the top 20 real estate investment markets globally with investment volume of Rs 19,000 crore recorded in 2012.

According to Cushman & Wakefield’s latest report, International Investment Atlas, China remained the largest global investment market overall thanks to the surge in land sales seen in late 2012. The US was placed in the second position, followed by the UK in third place.

The majority of the investment in India was through institutional sales (67 per cent), while the remaining was through private equity (PE) investments (33 per cent).

The market witnessed institutional sales (excluding apartments) of Rs 12,800 crore, concentrated in commercial development sites and the office segment, including standalone and pre-leased office buildings.

While the investments in institutional sales declined 37 per cent over the last year, private equity investment in India increased by 7 per cent in 2012 and was noted at Rs 6,200 crore, the report said.

In terms of value, the majority of private equity in real estate (PERE) investments were noted in ready income generating / operational office assets at Rs 3,230 crore, which saw an increase of 34 per cent over 2011. Under-construction residential projects continued to witness the highest number (25) of PERE deals in 2012 and witnessed private equity investments at Rs 2,850 crore.

Sanjay Dutt, Executive Managing Director, South Asia, Cushman & Wakefield said, “Investment in ready income generating / operational office assets have gained strength over the last few years due to lower risk and steady cash flows associated with this type of investment.”

On the PERE front, Bangalore witnessed the highest number and value of private equity investments at Rs 3,250 crore in 2012, recording over double the investment of last year, followed by Mumbai with Rs 1,300 crore and NCR with Rs 700 crore of investments. However, in comparison with 2011, Mumbai saw a decline of 2 per cent, while NCR witnessed a decline of 44 per cent in total value of investments.

“Bangalore witnessed some high-value investments in pre-leased office assets, which has led it to be the top-runner in the PERE market. However, NCR and Mumbai continue to be preferred locations for investments due to the opportunity they offer. The NCR market in 2012 saw a lower number of investments as it is an active residential sales market, which obviated the need for PE funding in many projects,” Dutt added.

Manish Arora to design for real estate firm

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Prestige Golfshire, Bangalore Real Estate, Track2Media, Delhi NCR real estate, 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 PropertyTrack2Realty-Agencies: After marking his presence in the Indian and international fashion world, ace designer Manish Arora has tied up with real estate firm AMR Group, and will design for their forthcoming presidential suites and luxury residential projects.

This is a strategic tie-up, whereby AMR will be the principal sponsor for Arora’s Paris Fashion Week show and Arora would be designing the company’s forthcoming residential projects in Greater Noida.

“AMR Group has always promoted creativity and I feel proud to be associating with the guru of Indian fashion scene, Manish Arora. I look forward to this unique association, hoping to deliver to our customers an exclusive, state-of-the-art living experience,” Kapil Aggarwal, managing director, AMR Group, said in a statement.

The designer will put his style into creating The Royal Heights, a project of Kessel I Valley, soon to open at Tech Zone.

Arora is known for his colourful and quirky apparels.

Rising aspirations & value consciousness driving luxury housing-I

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By: Ravi Sinha

Track2Realty Exclusive

Prestige Golfshire, Bangalore Real Estate, Track2Media, Delhi NCR real estate, 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 PropertyDevelopers are outdoing each other in bringing the latest technology, and offering exclusive amenities and luxuries, not to mention the big-ticket designer names. Track2Realty finds the concept of luxury living is increasingly being redefined as the Indian real-estate market matures. There is no dearth of buyers either, provided luxury living is customised with buyers’ profile, taste, choice and needs.

The status symbol that was till recently being measured by the size of the house in most of the cities across the country has undergone a metamorphosis in recent times. In the space-starved Indian cities, the risingaspirations and value for money outlook of the discerning home buyers is increasingly redefining the very concept of the luxury housing where the conventional per-square-foot rate doesn’t apply and instead the entire package is what the developers have to ensure— the home, the amenities, the neighbours, the location and, of course, the social standing that comes with the address.

According to Cushman & Wakefield’s (C&W) annual report “Embracing Change – Scripting the future of Indian Real Estate” major cities in India would see a total demand of 2.3 million units of residential property in next five years. “Of this 16% would be high-end units.”

However, according to an industry estimate, in the past 9 months of 2011 about 80% of the projects launched in Mumbai and National Capital Region (NCR) are positioned as luxury product.

“There are only two ways of making profit; either you increase your volumes or your margins. Developers seem to be taking the easy way out, that is increase their margins by launching only high-end units,” says Pranay Vakil of Knight Frank India.

……to be continued

 

Prestige Golfshire claims to redefine super luxury address of Bangalore

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Prestige Golfshire, Bangalore Real Estate, Track2Media, Delhi NCR real estate, 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 PropertyPrestige Group has launched Golfshire in Bangalore which they claim to be city’s new address in the coming days. Situated a little away from the city with an estimated cost of Rs.800 crores, the project is targeted at India’s super-rich. Prestige Golfshire is positioned to be the avant-garde of luxurious lifestyle armed with convenience and international standards. The project has been approved by the Karnataka Tourism Board and the new luxury resort set amidst the city’s green belt will be completed and open for business in three years time.

The Prestige Group’s golf villa development boasts of an 18 hole champion-sized golf course designed by PGA Design along with the mock-up mansions. The mansions reiterate the luxury and grandeur which is the central theme of this project. Set against the picturesque Nandi Hills, Prestige Golfshire is spread across 275 sprawling acres. The property comes complete with ultra-luxurious mansions, the 300-bed Marriott International Hotel and a private lake.

Adding to the beautiful golf course is the Prestige Golfshire Clubhouse – Falcon Greens, which among other facilities like a well-stocked bar, a cigar lounge and a restaurant, will also house a golf pro-shop. The clubhouse is a unique blend of self-indulgent features, contemporary design and impeccable service. Perched on the highest point of the 275-acre property of Prestige Golfshire is located the 5-star, luxury resort hotel – The Marriott. This hotel is bound to impress with its panoramic view of the golf course, the 300 rooms that include 30 luxury suites, ballrooms, banquet halls, infinity pools, a lounge bar, conference and convention centres.

“We are aspiring to create premium residential developments that redefine luxury living. The idea is not to create houses or villas but to gift people a lifestyle with each Prestige development. The Prestige Group which is synonymous with many firsts is now all set to gift Bangalore its first world-class golf luxury resort with Prestige Golfshire. With this project, we also introduce the Marriott International Hotel to Bangalore.” says Irfan Razack, CMD, Prestige Group.

Golfshire also houses the Quan Luxury Spa which will offer classic and signature rejuvenating spa treatments using sciences as varied as Hydrotherapy, Thalassotherapy and Ayurveda. The ultra luxury mansions at Prestige Golfshire come in 8 different, super-exquisite designs. Designed by the award-winning MAPS design, Singapore and Thomas Associates, Bangalore, these mansions reflect a spirit of serenity, peace and tranquility.  The mansions in Prestige Golfshire have 450 to 575 sqm of enclosed area and spacious sundecks of about 100 to 250 sqm.

The sector is set to boom and there are aggressive growth plans from company in the residential, commercial, retail, and hospitality domains that will be visible in the skylines of Bangalore, Goa, Hyderabad, Mangalore, Cochin and Chennai in the coming years.