Office market to see over supply between 2012 and 2016: Cushman & Wakefield

Moneycontrol  |  October 12, 2012

Global real estate consultant, Cushman & Wakefield's estimates commercial office space demand of over 180 million square feet (msf) in the next five years in the top 8 cities of the country. This was released in the annual publication entitled "Evolving Paradigm - Future of Indian Real Estate" in association with Global Real Estate Institute (GRI) at their India Summit 2012. The report also estimates the total expected supply for the next five years in these eight cities as 219. 6 million sqft, basis announced projects and current pace of construction; indicating a condition of excess supply in the coming few years.

From Worli to Whitefield for real estate
Daily News and Analysis  |  October 12, 2012

Mumbai-based television professional Jayesh Muzumdar came visiting Bangalore to meet relatives a year ago, and ended up spontaneously buying a 2BHK apartment on the airport road. Today, the apartment in a Purvankara project has appreciated by over 30 per cent – from Rs15 lakh to Rs20 lakh. “That kind of amount would not even make up the down payment component for an apartment in Mumbai. The rates in Bangalore are relatively so low that I did not even have to take a loan,” says Muzumdar.

Retailers move from high streets to malls
The Times Of India  |  October 12, 2012

NEW DELHI: Domestic retailers are busy revisiting their business models to brace for more competition after the opening up of the $45 billion organized retail industry. From opting for better locations to right sizing stores, home-grown retail brands are doing all they can to boost sales, especially in light of consumers cutting expenses due to increased costs.

Global to local: The growing up of Real Estate funds in India
First Post  |  October 12, 2012

The dream began in 2005, when construction and development of real estate was opened up to foreign investors. Nearly 130 global firms rushed in to invest in the India growth story.  Liberalisation triggered the advent of furious fund-raising activity as fund managers neatly packaged and sold the Indian real estate story many times over.

Retailers face big obstacles in India
V V Warc  |  October 12, 2012

NEW DELHI: Retail sales in India are due to reach $700bn during the next five years, but numerous challenges covering areas such as the legislative environment and infrastructural development remain.According to estimates from Booz & Co, the consultancy, total retail spending in the country should hit $700bn by 2016, compared with approximately $450bn in 2011, and $200bn in 2000.

India's Azure Capital launches $94 mln property fund
Reuters  |  October 12, 2012

Oct 11 (Reuters) - India's Azure Capital said on Thursday it will raise up to 5 billion rupees ($94.10 million) through a real estate private equity fund that will invest in commercial properties across the top seven cities in the country.

Cut in interest rates will spur realty, economy
Economic Times  |  October 12, 2012

If the interest rate on home loan is brought to a single-digit figure, there will be a spurt in demand in the housing sector, which will help revive the economy, some experts say. A huge impetus to the real estate sector could help arrest the present slowdown in the economy to a projected growth rate of around 6% in 2012-13 as against 6.5% in 2011-12 and 8.4% in 2010-11, real estate experts say.

Small looks good
My digital  |  October 12, 2012

Witnessing huge demand for smaller sized apartments, instead of reducing prices, real estate developers are reduced the size of apartments to make it affordable for consumers

Extra land for Rajiv tech park cancelled
The Times Of India  |  October 12, 2012

New Delhi: The Supreme Court cancelled the acquisition of huge tracts of land by the Chandigarh administration for expansion of the Rajiv Gandhi Technology Park saying the process of acquisition was illegal. It also faulted the authorities for the brazen manner in which they diverted this land to favour private builders.

Centre gives in, allows states to set up real estate bodies
Hindustan Times  |  October 12, 2012

Buckling under pressure from states, the Centre has decided to allow them to set up their own grievance redressal mechanism to protect property buyers' interests from unscrupulous realtors. In a U-turn, the Housing and Urban Poverty Alleviation ministry, which has finalized the draft of Real Estate Regulatory Authority Bill, has dropped the original provision to set up a central real estate appellate tribunal.