The first quarter of 2018 has started on a positive note with a 23% YoY increase in the gross office take-up in India. As per Colliers International, approximately 11.4 million sq ft (1.02 million sq m) of gross absorption was recorded in Q1 2018.
Aundh is today an affluent suburb in the North-West of Pune which is no longer referred in collective consciousness for its chest hospital alone. It is now known more for its posh localities.
Bhiwadi as a city has for long weathered the perception of an industrial belt which was seen to be an alternative destination for those who can not afford Gurgaon or Manesar. After all, office occupancy pattern has been a benchmark of the prosperity of a given city since it indicates the jobs and disposable income which eventually is a catalyst for the growth of housing and retail as well.
A closer look at some of the leading property markets of the country, like Mumbai, Pune, Chennai, Hyderabad and Bangalore, clearly suggest that the market is poised for an upswing in the next few years. More importantly, it is not just the analysts but also the home-buyers who are today; ready to bet high on the long term growth story of the property market in these leading cities.
As per Colliers Research, RERA and GST compliance will remain a challenge for several developers for at least the next six months. We expect a decline in the number of launches in H2 2017. However, the sales are likely to pick up during the festive season due to higher optimism among buyers after RERA.
Mumbai has been the undisputed financial capital of India. The emergence of other business destinations, like Bangalore, Gurgaon or Pune could not take the sheen out of the city, even in the wake of infrastructure deficit and other urban problems plaguing the peninsular city. Now the Mumbai city is poised to elevate itself to the next level of business destination. The MMRDA (Mumbai Metropolitan Regional Development Authority) plans to make Mumbai a major global financial hub.
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