Track2Realty-Agencies: The country’s higher education sector will create real estate demand of around 900 million sq ft by 2020 to maintain the current gross student enrolment ratio of 12 per cent, according to a report by DTZ.
The real sector has emerged as one India’s largest drivers of economic growth. As a sector, it provides large scale employment and contributes significantly to the GDP. For decades, environmentalists have been warning that frenetic human economic activity associated with the breakneck speed of economic growth is placing a huge strain on the earth and its natural resources.
RICS has released its research report ‘Real Estate and Construction Professionals in India by 2020’.
Would you like to have the luxury of global landmark Al Burj of Dubai in India only?
Newspaper advertisements and other branding collaterals of some of the real estate projects across the country attract the eye balls for what Indians have always aspired for—International living.
The question is what needs to be done. Or in other words, how could real estate consume more out of ‘Make in India’ manufacturing? The question in itself is flawed, if not in sync with the larger eco system issues. Setting up and making a manufacturing unit in India comes with its own challenges. Cheap labour alone would not give India any edge or cost arbitrage over the export items. ‘Make in India’ has to move beyond the rhetoric of nationalism and reforms have to be introduced at each and every level, ranging from lower corporate tax to labour laws and making the country a happy hunting ground for the manufacturers of the world.
Housing.com in collaboration with The Times of India, presented the ‘Right To Excellence – Real Estate Summit’ on March 15th, 2024, at the Crowne Plaza in Gurgaon. This summit aimed to convene numerous industry luminaries, market experts, thought leaders, and stakeholders to delve into the future trajectory of the technology and real estate sector in India.
The overall leasing by luxury brands across the formats stood at 0.6 mn. sq. ft. in 2023, at almost 170% Y-o-Y growth. While High Streets constituted a 45% share in the overall luxury retail leasing in 2023, luxury brands’ stores in Malls followed at 40% and standalone stores accounted for the remaining 15%. This surge in leasing has been accompanied by the entry and expansion of various international luxury fashion, watch and jewellery brands across different locations. The eight cities tracked for leasing include Delhi-NCR, Mumbai, Bangalore, Kolkata, Pune, Ahmedabad, Chennai, and Hyderabad.
With the vaccination drive in full swing, there is renewed optimism, and the country’s economic momentum seems to be picking up. In particular, the real estate sector is witnessing new interest from homebuyers as seen in Q1 FY22, spurred due to positive government policies, initiatives taken by the developers and pent-up consumer demands. This is a new phase of real estate growth, innovation, and investment, contributing towards making India the world’s fastest-growing major economy.
Worsening the situation at a frightful angle is the global pandemic attack, which led governments to struggle with the new lockdown measures and brought big shifts in the stock markets. Its aftermath will be one of the biggest business challenges of our time – “will employees re-enter the office space?” Workers are concerned about the disinfection strategies being used by commercial complexes.