CCI dismisses charges against realty firm BPTP
Track2Realty-Agencies: Fair trade regulator CCI has rejected a plea alleging that real estate company BPTP abused its dominant market position with respect to a residential project in Gurgaon.
Browsing: Delhi NCR real estate
Indian real estate overview: 2015
Track2Realty Exclusive: In 2014, India elected a new Central Government with absolute majority after three decades. The absolute majority helped in the formation of the strong government capable of taking decisive steps without much opposition. Likewise, several pro-business reforms were introduced to propel the infrastructure growth and to infuse a positive sentiment for the future of the real estate sector including revitalising Special Economic Zones (SEZs), development of several industrial corridors, creation of 100 smart cities, relaxation in FDI norms in real estate, supporting affordable housing sector, introduction of REITs and InVITs etc
How IPCs make a difference in Indian real estate
Track2Realty: In a market still defined by significant lack of transparency, real estate consultancies play a complex and responsibility-driven role in all real estate transactions, especially in the case of high-value property assets. In large ticket sized transactions such as those involved in Grade A office spaces, there can be no margin for error. Transparency, ethics and accurate market information play an inalienable role in closing such deals.
Growth curve: Organised retail real estate in Tier II and III cities
Track2Realty: Currently, tier 2 and 3 cities account for a smaller proportion of operational shopping malls in India. However, with rising consumer aspirations and demand, the potential of these cities in terms of retail real estate is increasing. Both national and international retailers are expanding businesses in these cities, and this is fuelling demand for organized shopping spaces. While the major metro cities are continuing to launch bigger, international-standard malls, tier 2 and 3 cities are currently graduating to next level by initiation of shopping mall developments. There are notable exceptions to this – Lulu Mall in Kochi is, in fact, the largest mall in India as of today.
Q4 2014 office space take-up highest in past 3 years
Track2Realty: Enhanced levels of activity in corporate real estate transactions led to a total office space take-up of more than 33 million sq. ft.during 2014. This activity was led for the most part by Bangalore(37%) and the National Capital Region (NCR)(24%).
DTZ probe into vacant commercial space in Delhi-NCR: Q4, 2014
Track2Realty: The Indian real estate market is showing signs of confidence and improved industry momentum post the general elections 2014. The last two quarters clocked an uptick in commercial space take up across leading cities in India. Noticeably, Delhi NCR stood as one of the leading occupiers, registering a significant increase of 25% (y-o-y) in take-up figures during 2014. Moving forth, the demand and corresponding vacancy levels would be key determinants for future traction in the commercial segment across this region.
Business confidence index high; real estate awaiting turn of fortunes
Track2Realty Exclusive: It has indeed been a busy year and 2014 can well be described as the year of roller coaster emotions where the business confidence index was exposed to two extreme ends of swing. In an otherwise flat year, the real estate sector may not have been witness to transactions on ground but the poetic engagement has definitely been at the emotional level.
The glass is still half full, but there is hope-I
Track2Realty Exclusive: The real estate sector is of strategic economic importance to India, as it is the second largest employment generator after agriculture and contributes about six per cent to India’s GDP. The sector with its backward and forward linkages to 250 ancillary industries has the potential to generate significant employment opportunities and provide a quantum jump to the Indian economy. Accelerating the growth in the sector can help turn-around the sluggish GDP growth witnessed in the last few years.
India to be in top 10 global markets for retail consumption demand by 2020
Track2Realty: In recent years, the Asia Pacific retail market has boomed on the back of strong economic growth, rapid urbanization and the emergence of a large and prosperous middle class population, CBRE’s latest report The New Age of the Asia Pacific Retail Market reveals. As a result, Asia Pacific is now experiencing an upsurge of new retail construction to meet demand as international retailers flock to the region.
Delhi’s Connaught Place ranks 6th among costliest global office markets in Q3 2014
Track2Realty: At nearly US$160 per sq. ft. per annum, Delhi’s Central Business District (CBD) of Connaught Place was ranked as the sixth most expensive prime office market in the world, according to CBRE’s semi-annual Global Prime Office Occupancy Costs survey. Mumbai’s alternative business district of Bandra–Kurla Complex (BKC) remained at the sixteenth, and its CBD of Nariman Point at the thirty-second positions on the Top 50 rankings for global prime office properties.