If only the secondary market was any indicator of real estate growth, the argument that that the real estate market is turning bearish in Chandigarh would have been true. But while the prices have softened a bit in the city, the beneficiary is the periphery of Chandigarh that makes the overall property market in the city very bullish and overall economy vibrant.
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.
As the real estate sector in the country stands at a critical juncture, the performance of this sector will be largely governed by the following drivers.
RICS has released its research report ‘Real Estate and Construction Professionals in India by 2020’.
The availability of skilled manpower supported by availability of cost effective commercial real estate – especially in terms of Grade A projects – continues to drive demand for office properties in Pune.
CoreLogic, the real estate data analytics company in Santa Ana, is selling its operations in India for $50 million to Cognizant, an information technology consultant based in New Jersey.
Hindustan Unilever (HUL) is reportedly trying to redevelop its landmark Brookfields Property in Whitefield, Bangalore.
DLF, India’s largest real estate company, will sell its shareholding in two IT SEZs in Pune and Noida, for a combined value of Rs.1,300 crore.
In a first ever realty project based on designs from prospective home buyers in India, Mumbai-Pune developer Kumar Urban development Limited (KUL) today announced the launch of an integrated eco-friendly township in Pune’s IT hub at Hinjewadi.
The Hyderabad commercial office market posted a strong increase in demand in 2010 with the foray of new occupiers such as United Health Group, JP Morgan Chase and Facebook, and the expansion of existing tenants including TCS, Accenture, Google, Mindtree and Cognizant. Majority of the leasing transactions were recorded in the peripheral districts of Hitec City and Gachibowli. During the year, the city also witnessed strong pre-leasing activity. Demand of SEZ space in the city increased as compared to IT Parks in 2010.