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Indian Real Estate market in trauma | Weekly Round Up | RealtyMyths

Welcome back to the Weekly News Round up! Let’s see what’s in the bulletin for this week. Singapore’s Xander Group’s private equity real estate arm Xander Investment Management (XIM) has set up a $250 million industrial real estate platform in India. This venture will target to purchase assets in the high-growth logistics and e-commerce sectors at industrial corridors across major cities in India. The recession has badly hit the Indian real estate sector. The real estate sector is facing a severe cash crunch and if the situation remains the same then this could indicate fresh strife for the banks. According to Fitch Rating’s Indian division about $10 billion of development loans coming up for repayment in the first half of 2020. This fallout could spread to mainstream banks that have...

JLL achieves LEED® V4 Platinum Certification

JLL India, the largest real estate consultancy and professional services firm in the country, achieved a rare milestone with its TDIM office in Bangalore achieving LEED V4 Platinum certification from Green Business Certification Inc. (GBCI). This prestigious certification has been awarded for designing energy and water-efficient space under the interior fit-out category, known as LEED for Interior Design and Construction: Commercial Interiors. Ramesh Nair, CEO & Country Head – India, JLL said: “This certification symbolizes JLL’s continued commitment to sustainability and building a better tomorrow, surpassing JLL’s earlier achievements on green certification. JLL leads by example and has set high standards while building new fit-out spaces.” George Thomas, Chief Information Officer, J...

Infinity Spaces plans to expand in Gurugram, Pune, Bangalore, and Indore

Infinity Spaces is planning to take 200000 sq. ft. office area on lease in Gurugram, Pune, Bangalore, and Indore for further expansion. The Noida based start-up has taken space in Noida expressway to set up corporate office spaces which will be providing lockable spaces to the start-up companies. With 12 corporate office spaces spread in 25,000 sq.ft. in Sector 63, Noida and having more than 100 offices and a 99 percent occupancy rate, this company is planning to spread the wings keeping the market demand in mind. Infinity Spaces offers fitted out space (ready-to-move) as per the requirement of the client, which helps to minimize the initial fund outflow of the start-up companies.  Also, they are known for providing quality basic amenities in the offices that reduce the set-up cost of star...

How Companies Reach the Top – And Stay There

– by Sukhdeep Aurora The quest for leadership is, perhaps, one of the most deeply-ingrained human traits. In legal terms, corporates are entities or ‘individuals’ but more importantly, they are made up of people – and they work for other people. So, what is a good indicator of a company having reached ‘the top’? Is domestic and even global market share a reliable metric – or perhaps capitalization, or market value a prudent indicator? Or is being considered the ‘best place to work’ a good yardstick? While there is no single benchmark, the quest for ‘reaching the top’ continues to drive companies and individuals. Getting There The above parameters are important to gauge a company’s progress on a time scale and in relation to its peers. However, paraphrasing Aamir Khan’s statement in t...

Office leasing activity to touch its highest level ever

CBRE South Asia Pvt. Ltd, India’s leading real estate consulting firm today announced the findings of its latest India Office Market View – Q3 2019 report. As per the findings of the report, leasing activity rose by more than 30% annually, crossing 47 million sq. ft. during 2019 YTD. Bangalore, followed by Hyderabad, NCR, and Mumbai, accounted for about 80% of the leasing during 2019 YTD. Leasing activity stood at about 15.4 million sq. ft. during Q3 2019, rising by nearly 23% on an annual basis. Anshuman Magazine, Chairman & CEO, India, South East Asia, Middle East, and Africa, CBRE said, “With office leasing scaling a historic high in 2019, we expect further strengthening of occupier sentiment in the medium to long term; backed by corporates looking to expand or consolidate their ope...

Home sales decline 25% in July-September quarter: PropTiger report

Project launches in India’s major property markets continued to fall in the second quarter of the current financial year and at the same time real estate developers’ attempt to arrest the downwards movement in home sales failed to yield the desired results, shows a report by PropTiger.com, part of Elara Technologies Pte Ltd, that also owns Housing.com and Makaan.com. According to Real Insight, a quarterly analysis of India’s nine key property markets by PropTiger DataLabs, new project launches in the country declined 45% in the July-September quarter of the financial year 2019-20 (FY20) when compared to the levels seen in the same quarter last year. During the same period (Jul-Sep), home sales also reduced by 25% as compared to the corresponding quarter last financial year. Quarter-on-quar...

JLL India gets the “2019 India Facility Management Company of the Year” award

JLL India has been named the 2019 India Facility Management Company of the Year at Frost & Sullivan’s India Best Practices Awards Banquet. The award was given in recognition of the real estate firm’s excellence in growth, innovation, and customer leadership. Sandeep Sethi, Managing Director, Corporate Solutions, JLL India said: “It is an honor to be acknowledged for this prestigious award. Our success revolves around our people, and our continuous effort to drive client experience. We continue to evolve our service delivery in line with the changing needs of our clients by a deep commitment to innovation and workplace experience enabled by technology. We thank our clients who have believed in us and have entrusted us with their ‘workplace experience.” “We are delighted that this has be...

North Chennai – Waiting for Growth Boosters

– by Sanjay Chugh North Chennai has been a prominent location since the 16th century due to its proximity to the Chennai port. For many decades, the economy of this region revolved around port-related businesses such as fishing, transportation, and logistics. As the city evolved, the economic profile of this region has also developed. In comparison to the southern and western parts of the city, North Chennai’s real estate market has been relatively stagnant due to the absence of major demand drivers. The underdeveloped infrastructure failed to attract a variety of industries. However, the state government has planned many projects to improve the region’s connectivity with West and South Chennai. As and when these infrastructure initiatives are completed, North Chennai’s economic and ...

ReNew Power strengthens leadership team

Renew Power limited (“ReNew Power”), India’s leading Renewable energy company, today announced the elevation of Sanjay Varghese to the position of Executive Vice President in the company. Sanjay will head the Solar Business for the company and report directly to Chairman and Managing Director, Sumant Sinha. Sanjay has been with ReNew for the past 2 years and has been responsible for executing key solar projects for the company. Sanjay joined ReNew from Lanco Solar, where he was the Chief Operating Officer. Sanjay was earlier reported to the company’s Chief Operating Officer Parag Sharma, who has decided to pursue interests outside the Company. Parag was with ReNew for the last 5 years and we wish him all the best for his future endeavors. ReNew Power also announces the appointment of Visha...

South Cities’ Housing Absorption Slumps, Pune and MMR Race Ahead

– by Anuj Puri Unlike earlier, the resilient markets of south India are beginning to feel the heat of the overall residential slowdown in 2019. As per ANAROCK’s recent research, the southern cities of Bangalore, Hyderabad, and Chennai together saw residential sales decline by 5% in the first three quarters of 2019 against the corresponding period in 2018. The western cities of Pune and MMR raced far ahead and clocked in a 33% jump in sales over the same period. Even NCR in the north recorded 15% yearly rise in housing sales between January to September 2019. The three southern cities collectively saw residential sales of 61,400 units between January and September 2019 as against 64,420 units sold in the first three quarters of 2018. MMR and Pune, on the contrary, saw the sale of near...

Unfolding the crisis of residential project delays: Is the problem all pervasive?

Against the common myth that the entire residential real estate segment is troubled, it is the upper middle income and premium property projects that are majorly delayed. Delhi-NCR and Mumbai are major contributors to delayed projects Affordable and mid-income projects do not account for much of the delayed projects except in select cities like Kolkata and Pune The story of the residential market is uncomfortable when looked at from a buyer’s perspective. Contrary to the already published reports indicating that the real estate sector is struggling with billions of USD worth of delayed residential projects in the top seven cities of Delhi NCR, Mumbai, Pune, Hyderabad, Chennai, Bengaluru and Kolkata, it is has been observed that the problem lies with only the upper middle income and premium...

CBRE’S Survey: Impact of GST on Supply Chain

CBRE South Asia Pvt. Ltd, India’s leading real estate consulting firm, today announced the findings of its latest survey titled “Towards a Unified India 2.0: How did Warehousing Occupiers approach the GST?”. The results of this year’s survey highlight how well occupiers have adjusted to the new tax regime and what is really driving the sudden growth of the Industrial and Logistics sector (I&L) in India. Anshuman Magazine, Chairman & CEO – India, Southeast Asia, Middle East & Africa, CBRE said, “The logistics sector in India is headed towards transformative growth. The permeation of technology in operations, innovative business models & strategies, improving supply chain efficiencies, augmented warehousing demands, varied funding avenues, favorable government policies, geogr...

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