Commercial real estate in Chennai has seen steady growth in the past decade. Despite the coronavirus pandemic, the CRE industry has managed to stand strong. Read on to learn more about the evolution of commercial real estate in the city
The commercial real estate market has had a rollercoaster of a year as far as 2020 (and even 2021 to an extent) is concerned. As 2021 is nearing an end, let’s discuss the commercial real estate trends that the coming year 2022 holds for investors and CRE enthusiasts! Read on for commercial real estate insights for 2022!
COVID-19 changed the workings of the world’s businesses unprecedentedly. The world came to a standstill and businesses were shut. It is no surprise that the pandemic severely also impacted the real estate market. Property sales plummeted during the March lockdown, and construction activities have only started to resume in some states
Moving past the second wave of the pandemic, the commercial real estate sector is on the path of gradual recovery. Prior to COVID-19, the real estate industry was at its prime with commercial and residential activities in full swing. However, with the imposition of an abrupt lockdown in 2020, the real estate sector faced a slowdown in activities; and despite these hurdles, the industry has managed to overcome the challenges.
The report also indicates that the investment preferences of investors vary with age. Young investors have a high risk-high return appetite and are ready to geographically diversify their property investments.
Mumbai, Maharashtra, India Business Wire India Indias one-of-its-kind phygital offices, maximizing work potential, chiefly in an age of technological advancement The first in its line futuristic commercial landmark in Worli, catering to Start-ups and MSMEs A unique offering by Parinee Group in the post-pandemic world Parinee Group, one of the forerunners in the luxury real estate and commercial segment, for the first time ever in India presents Parinee Brillions Phygital office spaces designed to bridge the gap between the physical and digital worlds interactively.
It is set to launch project in the national capital being developed in joint venture with Singapore sovereign wealth fund GIC. After receiving good customer response for independent floors in Gurugram, DLF said it will launch more such products in the market for sale
The impact of Coronavirus on the Indian real estate sector was stifling to the point that it brought property transactions to a near-halt last year when the nation went into a complete lockdown between March and June 2020. Since then, the market has taken several strides towards recovery, and just when it seemed the revival was not far, the country has been struck by yet another wave of the virus, this time, far more fatal. Experts say the recovery of the realty market in India could now prolong until 2022
Covid will be remembered as a watershed moment in the history of humankind, making an indelible impact on our lives. It’s impact on future of real estate will be felt more around the investment demand rather than the end user demand. Covid will accentuate the gradual shift in real estate investment demand, which has been in the works for some time due to inherent dichotomy of the current structure of real estate investing with two key wealth management trends digitization and diversification
The Supreme Court, in its recent judgment, has finally settled a long pending issue by holding that contracts which cover works other than civil works and do not involve any construction, do not attract cess under the Building and Other Construction Workers’ Welfare Cess Act, 1996
The COVID crisis hit us at a time when the Indian economy was already slowing down. The GDP growth of 4.7% recorded in Q3 FY20 is the lowest in the last six years. All the pillars of India’s growth ie consumption, investment and exports were slowing down
In 2021, the southern cities such as Bengaluru and Hyderabad are placed comfortably to lead the path to recovery; emerging asset classes, such as student housing, co-living and senior housing are expected to pick up and flexible workspaces may make a strong comeback.
ARPIT MEHROTRA IST
Real experts say it may take 12-18 months for the market to bounce back. The first segment to see an uptick will likely be the rental market after offices reopen and people return from their hometowns.
The rapidly expanding metro infrastructure, availability of massive talent pool, ample supply of coworking spaces, and lower floor plate values vis-à-vis other metro cities have made Hyderabad a popular commercial destination globally. Hence, if you too are planning to set up your business in the city, then here are a few micro-markets providing a host of commercial choices across budget ranges.
Mumbai remains the most expensive office market in the country with an average fit-out cost of $133 per sq ft. The average office interior fit-out cost in New Delhi stood at $126 per sq ft and $33 in Chennai.
She was replying to a debate on the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020, in the Rajya Sabha which passed the proposed legislation to replace an ordinance in this regard with voice vote.
Corporate guarantors include Gadgil Holdings Private Limited and Dajikaka Gadgil Developers Private Limited, and also individual guarantors Saurabh Gadgil and Radhika Gadgil, for paying dues of Rs 112 crore as of August 28.
Net absorption of commercial real estate across the top 8 cities declined over 73% from a year ago and 49.5% on-quarter to 3.72 million sq ft during the quarter as fresh transaction activity remained muted, showed data from Cushman & Wakefield.
The company has leased the space to Boston-headquartered State Street Corporation, US conglomerate Hasbro, American-Canadian digital media and broadcasting company Vice Media, and Temasek Holdings’ portfolio company STTelemedia.
The office rental collections were 98 percent in April and May, and 95 percent in June, it said in an operational update for Q1 FY21. There were rental increases of 14 percent on 1.8 million square feet across 22 office leases.