The additional 50 basis point increase is expected to impact growth considerably. Demand for real estate is a factor of economic growth. The sector has now taken a serious body-blow with the combined onslaught of increased cost of land and construction, finished real estate prices and mortgage rates.
Bangalore: Grade A Office – Demand continued to be robust in Bangalore with corporates expanding and leasing large spaces. Rents continued to increase in 2Q11 due to the growing demand and limited ready- to occupy space in CBD and SBD micro-markets. The high occupancy levels due to the growing demand resulted in increase of capital values in the CBD and SBD micro-markets.
The new Benami Transactions (Prohibition) Bill 2011 has many advantages for law enforcement agencies as compared to the Benami Transactions (Prohibition) Act of 1988. Because of its more detailed provisions, it offers a wider legal net within which such properties can be defined.
Delhi NCR: Grade A Office Real Estate: Leasing activity continued to remain strong in suburban micro-markets of Delhi – NCR, while the CBD and SBD saw moderate activity. CBD witnessed a marginal increase in rent at the back of low availability of leasable space and rents in SBD. Capital values witnessed a marginal increase and Investor activity was limited.
The CII Real Estate Conclave 2011, themed ‘Indian Real Estate Charting a Global Course’, organized in association with Jones Lang LaSalle on June 24, 2011 was a huge success. Attended by over 400 industry professionals, the event set a platform to discuss the course ahead for real estate industry in India.