Leading international property consultancy JLL India today announced the launch of its dedicated Infrastructure Services vertical, which will specifically address the requirements and opportunities that the infrastructure sector will represent till 2020. JLL is the first International Property Consultancy to offer this service within the country.
Over the last few years, retailers around the world have embarked on a plethora of innovations, which change the way consumers shop. The advancements in technology and their widespread usage by consumers and retailers alike are contributing to the pace at which this transition in retail is happening. For instance, online
retailing has provided consumers a lot of benefits—in terms of discounts, product varieties and convenience—that are unmatched by physical retailing. While this scenario has resulted in the substantial growth of online retailers’ market share across the globe in the last few years, it also has triggered off bigger innovations
from physical retailers. This paper attempts to discuss this journey of transition in retail across the globe and in India as a result of the changing retail environment. For India, we will have a closer look at each of the top seven retail cities and the impact that this retail transition has had on organised retail real estate market.
India has always been labelled as a ‘reluctant urbanizer’. The percentage of the population living in urban areas in 2001 was estimated to be at 28%. Despite the explosive growth of cities like Mumbai, Delhi, Bangalore and Pune, the percentage of people moving to the urban centres did not cross 31% mark in 2011. Nevertheless, there is a rising anticipation across the nation that in the next decade or so, the rate of urbanization will rise massively in India.
In a slow real estate market, selling a house can be a daunting task. Nevertheless, selling a property is sometimes necessary or desirable despite market circumstances – for instance, when the home’s mortgage value is higher than its market worth, if one has purchased another house and faces difficulties in paying two mortgages, if one wants to upgrade to a bigger and better house or if there is a need to downsize. Other circumstances such as job relocation and family issues can also necessitate the sale of one’s home – with an express need for a quick sale.
Given the policy paralysis witnessed during the last two financial year (FY2012-13 and FY2013-14), GDP growth was recorded below 5.0% y/y during both years. Overcapacity in the critical mining and manufacturing sectors reduced the crucial supplies needed by various industries. As a result, a deadly combination of high inflation and falling consumption eventually stunted growth until early 2014. However, since the last two quarters, things have turned around.
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.