Consultation India - Pune, Mumbai Real Estate/ Properties Investment, Property Management Services

The commercial real estate market has had a good year with demand outstripping supply. As of now, it is expected that the trend will continue into 2019 and prices will remain firm in select markets, says Rajat Gupta, Managing Director — Advisory & Transaction Services, India, CBRE. Gupta, recently in Kolkata to attend a CII seminar, spoke to  BusinessLine  on the outlook for 2019, expected price movement and the impact of GST on commercial real estate. Excepts: How has the year 2018 played out for commercial real estate? This year (2018) has been a good year for commercial real estate. The seven large cities — Delhi, Mumbai, Bengaluru, Hyderabad, Chennai, Pune and NCR — are expected to report around 42 million square feet of absorption; which is expected to be an all-time high. The incremental supply this year will hit a high of 30 million square feet. So demand outstrips supply. This is also a reason why most preferred office micro-markets in the country have seen an i

As per data made available by real estate consultants, total office absorption across the top 7 cities is geared to cross 39 mn  sq  ft  in 2018 The year 2018 saw demand for Grade A office stock grow. While co-working emerged as the new poster boy of commercial real estate, logistics and warehousing saw significant growth. Despite minimal new supply in 2018, the retail real estate sector held its own on the back of conducive FDI norms. Leasing activity:  As per Cushman & Wakefield estimates gross leasing activity is expected close to 50 mn sq ft. This has been supported by robust space take-up by IT-BPM sector with global captive centres clocking impressive numbers as well, and the co-working revolution consolidating its gains with a strong showing during the year. Total investments  Of the total investments in the office space during the year, approximately 77 percent of the investors were of foreign origin, cementing foreign investors’ trust in the Indian commercial space

PUNE: The property registration department has earned over Rs 25,317 crore in revenue between January and November this year — over Rs 3,000 crore more when compared to Rs 21,950 crore income in the same period last year. The department managed to process 19.34 lakh documents between January and November this year as against 20.72 lakh documents registered between January-December last year. “Since 2013, we have been registering an average of 22 lakh documents ever year, barring 2017 and 2016 when the registrations dipped to 21.49 lakh and 20.46 lakh, respectively,” department officials said. Deputy IGR Supriya Karmarkar said the department was hopeful of achieving the Rs 25,000 crore financial year (April to March) target with steady rise in registrations. “When it comes to the financial year, we have already achieved 70% of the revenue target and expect to earn the rest in the remaining months,” she said. State Credai president Shantilal Kataria said the numbers were good, espe

The city of Peshwas, once known for its wada-style housing and traditional bazaars, is now home to luxury hotels, fine dine restaurants and fancy apartments. Luxury real estate was the early entrant into the traditional market and the segment has seen a jump of 10 percent in prices in the past year, states Cushman and Wakefield. Hotels such as Conrad Pune brought global hospitality experiences to Pune. Fine dining restaurants and fashion businesses followed suit. My first reaction when I heard that the country’s first Conrad was opening in Pune, was, “Why Pune?” The India debut of Hilton Worldwide’s luxury flagship was much-awaited by its patrons and those who track the hospitality industry. Conrad had been planning its India foray for quite a while, on the back of its growing GDP and the interest from the local market in fresh hospitality experiences. Pune, then, seemed a rather offbeat choice. Given the way the luxury market in Mumbai’s neighbouring city has evol

A well-regulated real estate market will spur the world’s biggest asset managers to look at India more seriously over the long-term Mumbai:  Real estate may be down in the dumps right now. But even so, compared with most other big businesses,  real estate remains one of the best to put your money into. At its core, real estate is the coolest even in failure. You build an airline on leased planes and if it fails all that the lenders are left with is a brand with which they can have ‘Good Times’ while humming  Oo La La, La, La, Le, Oo . If real estate fails, lenders to the project still have the land and nothing as an asset gets as real as this. Yet, it’s been a business that most respectable entrepreneurs have so far shied away from because it’s a trade vilified—mostly for the right reasons. For one, real estate has been the coolest way to generate and park slush funds for political parties. Much of the surging value of real estate springs from picking obscure land on the cheap an