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Today, many more Indian developers have understood that green certification can attract more customers and investors, and are aligning themselves with green concepts. However, the supply gap is still quite significant, and there is still a definite need to create a broader spectrum of awareness among end-users.
Fast fashion is emerging as an important and growing category in the Indian retail sector. Consumers, on an average, are buying apparel eight to ten times a year now compared to a few years ago, when it was lesser than half a dozen times. This is making fast fashion more relevant as these retailers change their stock several times a year, and are thus, able to provide latest fashion merchandise all year around.
The prime office corridor of DLF Cybercity in Gurgaon currently has just 5-8% vacancy, while quality projects across the office markets of Noida and Gurgaon are currently running at full capacity with limited vacancies.
High vacancy in the post-GFC (global financial crisis) years, coupled with a poor consumer and retailer sentiment, led to many developers either deferring launch of proposed retail projects or shelving them altogether. Therefore, the current decade started with falling new supply and demand from retailers.
It is natural to wonder why certain realty projects, such as ‘Worli 1973’, ‘W54’ or ‘Three Sixty West’, are so named. Or why some developers come up with esoteric names ranging from Greek gods to foreign flora for their projects. In fact, the naming of realty projects is an important exercise carried out by marketing and strategy teams.
Among the seven major office markets in India, Bengaluru has emerged as the one enjoying lowest vacancy levels. At slightly more than 3%, the office vacancy levels are at an all-time low in the IT capital of India. Bengaluru is followed by other IT hubs like Pune and Hyderabad having vacancy levels of 6% and 9%, respectively.
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During the first quarter of 2015, two significant market movements have been observed in Bangalore’s real estate market – an increase in new launches as well as a rise in the net absorption of units. While 13,400 units were newly launched in 1Q 2015, the corresponding figure stood at 11,170 units in 1Q 2014. The city also saw a net absorption rate of 8,310 units in the first quarter of 2015 compared to 7,210 units observed in the corresponding quarter of 2014, which is an increase of 15% in total sales y-o-y. For the same time period though, the overall absorption rate stood lower at 10% in the 1Q 2015 as compared to 11% in 1Q 2014.