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BMC Move On Commercial Real Estate To Create Jobs

Last week the BMC announced that they may consider lowering premium for extra FSI. This comes as a very positive move for the Real estate market in Mumbai, where the cost of getting a permit is very high as compared to other parts of India.

When the new DP was announced for Mumbai, developers rejoiced on account of the additional FSI that was allocated to them. A range of additional FSI between 30% to 80% of the ready reckoner rate was proposed under various policies, such as 30% under the Fintech policy, 80% under commercial linked to roadways, and 60% as fungible that is applicable over and above. This was a welcome news for the commercial real estate sector as the new FSI norms was expected to create significant commercial spaces.

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Delhi To Overtake Tokyo By 2030 As The Largest Populated City

New Delhi: As per an UN report, Delhi will overtake Tokyo as the world’s largest urban agglomeration by 2030 and have a population of 43.3 million by 2035. The same report also predicts that over half of India’s population will live in urban areas by 2050.

In 2015, the Delhi urban agglomeration — which includes the capital and its contiguous satellite towns — had an estimated population of 25.9 million but that will grow by 67.6% over two decades to cross 43 mn according to World Urbanisation Prospects, a report by the UN’s population division. Tokyo will be a fairly second with 36 mn with its population likely to decline a little from 37.3 mn in 2015.

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Over 500,000 sq. ft. of office space leased by Chinese companies in Delhi NCR

  

New Delhi: In a recent report released by real estate consulting firm, JLL, Delhi – NCR in India has emerged as the favorite office space destination for Chinese global companies. The report says that China’s biggest corporates are growing rapidly and are creating a strong global economic – system that is influencing global markets. Chinese businesses are expanding their global footprint by targeting emerging markets, acquiring overseas firms and making strategic investments in new technologies.

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The Logical Way of Seeing Real Estate Price Corrections

Buying a house is an important milestone and a lifetime decision for most Indians. After years of saving and diligent planning, one decides to purchase a house. In addition to the increased social stature and financial security implied in home-ownership, a home purchase also helps in big-time tax savings. Also, instead of paying fat rentals, one creates an asset which will appreciate over the long term.

A cursory look at average property prices reveals that overall across the top 7 cities, there isn’t too much variation in 2017 as compared to the previous year. Also, property prices differ in each city and also vary as per the location and its inherent growth drivers. Generally, developers are not in favour of visibly reducing the prices as it transmits negative sentiments in the market.

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Gurugram – The Start-up City

Gurugram is home to around 1,500 start-ups and is the 4th largest start-up hub in India. As the city hosts the behemoths of the start-up industry, it makes sense to delve a little deeper into this fascinating new office space sector in Millennium City.

Emerging commercial office locations in Gurugram, as also in Bangalore, Navi Mumbai and Hyderabad, have benefited significantly from the Indian start-up euphoria. This trend is likely to continue for some time given the availability of large talent pool and availability of real estate spaces. 

The start-up eco-system in India has been a key contributor to the rise in investments and job creation. Many start-ups that commenced operations in later part of the previous decade have already become medium-sized or large companies, particularly if we look at some of the popular e-commerce companies in India today.