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Anshuman Magazine

Corporate Tax Cut Will Boost Market Sentiment

by Santosh Sinha In continuation to government’s efforts to bring the economy back on the growth track, Finance Minister Nirmala Sitharaman today proposed to slash the corporate tax rate for domestic firms and new domestic manufacturing companies. As per the new announcement, the current corporate tax rate has been brought down to 22% from 30%. The effective tax rate will be 25.17% inclusive of all surcharges and cess for such domestic companies. For new manufacturing companies, the existing tax rate of 25% has been brought down to 15%. The effective tax rate after surcharges and cess will be 17%. This is a huge boost to the corporate sector. A sudden surge of more than 1600 points at Sensex testifies market’s mood over this announcement. As per some of the economists and marke...

Flexible Space Take-Up In India Reaches 4.6 Million Sq. Ft. In H1 2019

CBRE, India’s leading real estate consulting firm, today announced the findings of its latest report titled ‘India Flexible Space Digest – H1 2019’. According to the report, the overall flexible space take-up in India reached about 4.6 million sq. ft in H1 2019. During this period, Bangalore accounted for almost 30% of the leasing by flexible space operators. Commenting on the findings of the report, Anshuman Magazine, Chairman and CEO, India, South East Asia, Middle East, and Africa, CBRE, said: “India is currently one of the leading flexible space markets in APAC and we expect increasing investments in this segment going forward. Office stock is expected to grow from 600 mn sq. ft. in mid-2019 to a billion sq. ft. by the end of 2030 and flexible space will comprise 8-10% of the total off...

Logistics Leasing Records 31% Growth In One Year: CBRE

India’s logistics leasing recorded a growth of 31% on a yearly basis, crossing 13 million sq. ft, reveals CBRE, India’s leading real estate consulting firm, in its report ‘India Industrial and Logistics Market View, H1 2019’. As per the report, Mumbai, Chennai, and Bangalore accounted for more than 60% of leasing activity. Describing this momentum, Anshuman Magazine, Chairman & CEO – India, South East Asia, Middle East & Africa said, “While the overall pipeline for the sector is expected to be around 60 million sq. ft. till 2020, at least 22 million sq. ft. of this supply is anticipated to be released by leading players. We also expect logistics leasing activity to strengthen owing to consolidation/ expansion by occupiers. In addition, as per our APAC Investor Intention...

RBI Repo Rate Cut: A Significant Boost Ahead Of The Festive Season For The Real Estate Sector

by Santosh Sinha The real estate industry welcomes the decision by the Reserve Bank of India to cut the Repo Rate by 35bps, 4th consecutive rate cut in the year 2019. And why not, the sector is about to enter the festive season. The real estate developers expect to boost their sales in the upcoming quarter, provided the respective banks pass on the benefits to the end consumers before that. Anshuman Magazine, Chairman & CEO, India, South East Asia, Middle East & Africa, CBRE, describes, “The Reserve Bank of India’s decision to cut the repo rate by 35 basis points is a welcome move. In a scenario where there is pressure on GDP growth, the move will spur investment and boost consumption activity in the economy. We believe that this announcement might result in a further reducti...

Union Budget 2019 Boost To Real Estate: Affordable Housing Gets New Lease Of Life

Union Finance Minister Nirmala Sitharaman, while presenting her maiden budget and the first budget of Modi 2.0 government, announced an additional rebate of Rs 1.5 Lakh on Housing Loan Interest. Being considered as a big boost to the real estate sector, this step will encourage first-time homebuyers and will enhance sales. Currently, this rebate was limited to Rs 2 Lakh only. So with this announcement, a housing loan for a home valued up to Rs 45 Lakh, the homebuyers will now avail a rebate of Rs 3.5 lakh on the home loan interest amount. This benefit will be available for home loans taken till March 2020 The Finance Minister also proposed some relief to non-banking finance companies that are facing a crisis of confidence after banks showed reluctance in lending them following the recent I...

What Real Estate Expects From The Union Budget 2019

Ms. Nirmala Sitharaman, the new finance minister in Modi Government is set to present her maiden budget on July 5, 2019. And clearly, her focus would be to pull up the GDP growth rate up to 7.5%, as expected by the World Bank. Generating employment is the next issue that the government wants to tackle. And to do so, she would have to bring in some reformatory and corrective measures to the Housing, Agriculture and the Infrastructure sectors. The housing sector, in particular, holds the key. There are expectations that the Modi government would continue its reformatory mode to bail out the ‘long-forgotten’ sector. During its first term, the Modi government had introduced major reforms such as Real Estate (Regulation and Development) Act, Goods and Services Tax (GST), Insolvency ...

Real Estate Budget Wish List: Pass on tax benefits to boost large-scale housing development

by Anshuman Magazine The Indian realty sector expects some more favorable SOPs and policies to be introduced by the newly re-elected government in this Union Budget 2019-20. Riding on strong regulatory mechanisms introduced in the previous term such as RERA (Real Estate Regulatory Authority Act), GST (Good and Service Tax) and Insolvency and Bankruptcy Code (IBC) and numerous initiatives for the affordable housing sector, the realty sector has made great strides and has witnessed an improvement in overall industry performance. While the Modi-led government in its last term had introduced several reformative measures with the overarching aim to revive the sector, some measures are still awaited with respect to mitigating impending challenges related to fundraising, capital, and liquidity. I...

Warehouse leasing crossed the 25 million sq. ft. mark in 2018, says CBRE

Warehouse leasing in India crossed the 25 million sq. ft. mark in the year 2018, says the report issued by CBRE South Asia, India’s leading real estate consulting firm. CBRE today announced the findings of its latest report, the third in the series – “ONLINE RETAIL DRIVING REALTY – ELEVATING THE E-COMMERCE GAME”. The report examines the link between online retailing (e-tailing) and the logistics sector and the impact of GST on the leasing of warehousing spaces in the country. As per the report, the impressive growth of the e-commerce sector has been on the back of favorable policy reforms, tech-enhanced warehouses, rising smartphone and internet penetration, digital India movement, amongst others. This has upstretched the share of e-commerce in overall warehousing leasing uptak...

Modi Returns, Will The Real Estate Reforms Return Too!

Modi is back! Yes, a month-long festival of democracy came to an end with the verdict going in favor of the Narendra Modi-led NDA government. Remarkably, this time the brand Modi broke its own record and came back with more seats than 2014. Among all, the business community was the one which started the celebration from the morning itself. The Sensex opened with a 500 points rise and crossed 40,000 marks, a first in the history of Sensex. The real estate sector too showed the jubilation, and why not! being sidelined for long, the real estate sector came into limelight only when the Narendra Modi came into power. The destiny of India’s real estate started changing only when the Modi-led NDA government realized the importance of ‘house’ and thus, tried to put the house in o...

CBRE Group reaches to 146th position in the Fortune 500 list – RealtyMyths

CBRE Group, Inc. (NYSE: CBRE) has risen to #146 on the Fortune 2019 list of the 500 largest U.S.-based public companies. The company’s position rose from 2018 when it was ranked at #207. CBRE has been ranked among Fortune’s Most Admired Companies for the seventh consecutive year. “Our continued rise on Fortune’s prestigious list is a testament to our people and their intense focus on delivering great outcomes for our clients,” said Bob Sulentic, President and Chief Executive Officer of CBRE. On this achievement, Anshuman Magazine, Chairman and CEO, India, South East Asia, Middle East and Africa CBRE said “It’s a proud moment for all of us in CBRE today. The improvement of ranking in Fortune list is a testimony of our adherence to the global standards we have created and abide by. We will c...

Flexible Space Take-Up Increases By 277% In One Year, Says CBRE – RealtyMyths

CBRE South Asia Pvt. Ltd, India’s leading real estate consulting firm, today announced the findings of its latest report titled ‘INDIA FLEXIBLE SPACE QUARTERLY DIGEST– Q1 2019. According to the report, the overall flexible space take-up in India increased by 277% y-o-y to reach about 2.9 million sq. ft in Q1 2019. This represented a 70% increase on a q-o-q basis in flexible space take-up. Furthermore, Bangalore and Delhi-NCR were the largest markets for flexible spaces in India, accounting for more than half of flexible space leasing in the country. -70% increase on a q-o-q basis for the flexible space take up in India -Bangalore and Delhi – NCR were the largest markets for flexible spaces in India, with a combined share of more than half in overall flexible space stock -Hybrid and managed...

Delhi’s Connaught place is 9th most expensive office market in the world

CBRE Group Inc. the leading global real estate consulting firm, today, announced the findings of the latest edition of its bi-annual Global Prime Office Occupancy Costs survey. According to the report, New Delhi’s Central Business District (CBD) of Connaught Place is the ninth most expensive prime office market in the world with an occupancy cost of US$153.89 per sq. ft. per annum. Mumbai’s Bandra Kurla Complex (BKC) ranked 20th while the CBD of Nariman Point, ranked 33 on the list of the top 50 most expensive office markets around the world. RM Correspondent, Anshuman Magazine, Chairman – India & South-East Asia, CBRE said, “Despite the fact that, Connaught Place has limited supply of prime office space, its location in the heart of India’s capital, coupled with great infrastructure a...

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