As the Real Estate Regulation & Development Act (RERA) kicks in, many developers are now shifting their strategy towards building more office projects.
Author Santhosh Kumar
To identify safer and more convenient areas where women can live, work and relax in in our cities, we focus on some critical real estate factors.
Gross rentals in the Delhi-NCR market remained static in 1H16 compared to 1H15. At INR 77 per sq ft per month (on a stock-weighted basis), the third largest office market in India – in terms of stock – showed no appreciation in city-level average rents. Among micro-markets, Gurgaon and Noida saw a marginal rise in rentals with average rents increasing to INR 75 in Gurgaon, and INR 43 (as of 2Q16) in Noida, clocking a y-o-y increase of 1% and 5% respectively.
Santhosh Kumar, CEO – Operations & International Director, JLL India For the last 3-4 years, residential real estate market has seen sluggish demand, which has caused the unsold inventory levels to go up in some of the key Indian geographies. Mismatch of products in demand and products in supply in terms of price and configurations has been the main reason for the rise in inventory
Though infrastructure improvement (another major factor) is underway in many tier-III cities – and it is helping them get good connectivity to major metros – there is still much ground left for these cities to cover before they rank high on their attractive quotient for the IT companies and tech start-ups.
As urban consumers seek fashionable amenities in their residences, ‘branded homes’ are quickly gaining prominence in India. Typically, these are luxurious apartments combined with hospitality services provided by the likes of Hyatt, Four Seasons, Le Meridian and JW Marriott, renowned globally for their superior hospitality services. Some other apartments are joint-ventures with well-known fashion houses such as Armani and Swarovski, which lend their names while designing the interiors.