ASK Investment raises Rs.500 crore for realty fund
ASK Property Investment Advisors, part of the financial services group ASK Group, has made a first close of its second real estate fund at Rs.520 crore.
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Kotak property arm to rise up to $500 mn for India buys
Kotak Realty Fund, the property investment arm of India’s Kotak Mahindra Bank, plans to raise as much as USD 500 million by the second quarter of this year, in a bet on the long term case for property in Asia’s third-largest economy, a top official said.
Real Estate needs reforms: Economic Survey
Reforms in the real estate sector is the need of the hour for tackling issues like high stamp duty which often results in otherwise honest people having to deal in black money, according to the Economic Survey 2010-11 tabled by Finance Minister Pranab Mukherjee in the Lok Sabha on Friday.
India’s Grade A office space demand projected to cross 70 million square feet in 2024: CREDAI – CRE Matrix Report
Nationwide, market rentals across Grade A spaces continued to increase, nearing the INR 100 per square feet milestone, with an 8.7% QoQ increase in Q1 CY 2024. The disparity between market and existing rental rates expanded to approximately 14%, signalling a robust landlord-centric market environment. Specifically, Bengaluru, Pune, and Hyderabad experienced an uptick in rental rates during Q1 CY’24 compared to the preceding quarter.
Indian senior living market potential to touch USD 12 billion by 2030
The median age of the country is likely to gradually increase from about 29 to 38 by 2050. Similarly, the proportion of aged people (above 60 years) is likely to increase from about 11% in 2024 to 21% in 2050. At the global level, over the next three decades (by 2050), of the 2.1 billion people above 60 years, India would account for a 17% share indicating a significant demand growth for senior care including housing in the country.
Occupiers across major markets in India willing to pay higher rentals for quality office supply: Colliers
With global corporates increasingly seeking to optimize resources, maximize savings, and drive growth, India offers a compelling proposition. During Q1 2024, India continued to witness traction in GCC leasing activity. A significant 5 million square feet (msf) of leasing activity by GCCs, represented 37% of total office leasing across the top six cities. Looking ahead, GCCs are projected to lease between 45-50 msf of office space in the next two years, constituting around 40% of total demand.
How to make housing more affordable?
No one has got a clear answer to the core of the problems and every industry stakeholder has his own point of view. However, the economies of scale suggests it definitely helps the developers to undertake cost-effective measures since material procurement happens at a group level. This gives large developers an advantage over other smaller developers and projects. Also, the duration of construction has an impact on the cost. The developers must ensure the completion of projects on time, which could help us sell the properties at a faster pace and keep the cost under control.
Retail leasing expected to be firm in 2024, reaching 6-6.5 mn. sq. ft.
The residential sector is currently undergoing a bullish phase, characterised by a convergence of factors that foster an extremely favourable ecosystem. As we progress into 2024, we anticipate that both sales and new property launches will sustain the sector’s buoyancy. Despite the potential challenges posed by escalating land costs and limited funding options for early-stage projects, the robust underlying market fundamentals are expected to propel residential activity well above the average trend witnessed in the previous five years.
Houses worth INR 1.11 lakh crore sold during Jan-Mar(Q1 2024), Up by 68%: PropTiger.com Report
Continuing its upward trajectory, India’s top eight primary residential markets witnessed a strong demand during January-March (Q1 2024) this year with sales rising by 68 per cent in value terms to nearly Rs 1.11 lakh crore, according to a report by PropTiger.com.
Optimism on the surface this festive season eve
Indian real estate has historically been very optimistic on the eve of every festive season. The post festive season sales number may not back the pre-festive bullishness, but the sector has been known to be hoping to make merry year after year. After all, real estate is a sentiment driven business and the stakeholders try best to create an ambience of positivity to bring the fence sitting buyers back to the market, often with festive discounts and freebies.