Archive for January 2017

Tech firms drive Noida office space leasing: Report

The office-absorption report by the real estate researcher further stated that a total of 7,06,063 square metres of office space was absorbed in Noida, Gurgaon and Delhi in 2016.

Tech firms drive Noida office space leasing-ReportNOIDA: Tech companies absorbed almost 60% of the fresh office lease in Noida last year, thereby continuing to fuel real estate growth in this emerging market, a report by Colliers International, India, revealed.

The office-absorption report by the real estate researcher further stated that a total of 7,06,063 square metres of office space was absorbed in Noida, Gurgaon and Delhi in 2016.

Noida alone soaked up 36% or 2,51,770 sqm of the office space. Gurgaon, leading the show, absorbed 51% of the office lease while Delhi recorded only 13% space absorption.

“In Noida, the technology sector, with 60% share, remained the key driving force in office space rentals. In Gurgaon, though the tech firms absorbed the maximum 32% of office space, the sector’s volume share in this regard reduced significantly from last year’s 64%,” said Surabhi Arora, senior associate director, research, Colliers International, India.

“Due to a dearth of quality office spaces in other technology-driven markets like Pune and Bengaluru, we may see supply-led demand in the NCR, resulting in an increased rate of absorption in the coming quarters,” she said.

According to Arora, about 2.8 million sq ft (or 2,60,220 sqm) of new space will be added to the total office stock in NCR in 2017. The demand for new office space will be met by a slew of commercial constructions nearing completion in Noida and Greater Noida in 2017, she said.

However, as compared to tech-driven institutional rentals, commercial and industrial sectors have seen a plunge in rental values by 5%, the research report revealed.

“Property owners have tried to retain existing occupiers with several projects nearing completion, promising high supply over the next three quarters,” Arora said.

DISCLAIMER

The news and data posted here is from various sources, published and electronically available. We have taken all possible care to verify and crosscheck the accuracy of the same. However, despite due diligence, sources may contain occasional errors.www.noidapropertydealers.co.in will not be responsible for any errors in such an instance.

Investors being lured online with cost saving innovations

The dilemma around property prices is nothing new. Everyone invests with the intention of earning more if they sell the asset in future.

Investors being lured online with cost saving innovationsBY: Namrata Ekka, Magicbricks Bureau

The real estate sector is fraught with uncertainties such as demonetisation which propels buyer to consider and reconsider the decision to buy a house. What if you get the option to choose your price bracket on your selected shortlisted properties in convenient destinations?

Along with a handful of other potential property buyers, Shantanu Gosain visited several real estate brokers in Noida. Gosain is employed in an ITeS company in the Greater Noida Expressway and has been dillydallying with the idea of investing in a 3BHK house for the last one and half years. On asking what stops him from putting a concrete shape to this goal, “I somehow get wired by people’s experiences. A colleague of mine invested in a property whose possession date was last year. He is still waiting for the project’s handover. In the meanwhile, property prices have risen and fallen. This makes me wonder whether there is a good time to buy as I would not want to pay a higher price for a property whose value might fall in some months” says Gosain.

The dilemma around property prices is nothing new. Everyone invests with the intention of earning more if they sell the asset in future. The prospect of earning more can somewhat be guaranteed with if you pay less at the time of purchase. Yes, this is a possibility.

Save money innovatively

Some real estate portals have innovative products which allows you the option of buying a property at your own price.

Auctions by Magicbricks gives you the option to select property deals which is 15-30 per cent lesser than the market across top cities. After registration, you can compare and choose from a wide array of properties. If you win, you can own your home at the best price.

Investors being lured online with cost saving innovationsPropTigers’ Price-Protect Offer promises to refund the difference in prices if property values drop the next year. As an investor one can scan through the best prices of the projects of reputed builders.
Investors being lured online with cost saving innovations
Housing.com has taken the path more trodden. Focussing on six cities, investors can now look at instant homes with irresistible offers. On payment of only 20 per cent, investors can take possession immediately. Some extra offers come along with this service to gratify investors.
Investors being lured online with cost saving innovations
Buyers like Gosain and investors looking to purchase properties, can explore these options and save money. Online purchase of properties helps you avoid the long tedious process of choosing properties and negotiating on prices. Most of these online deals are being offered by big names, therefore investors can forgo the worry of being cheated.

Look for other similar online tools which will help you get your property at a cheaper rate. You will be surprised at the options that are available. Just ensure that the portal/brand is a trusted name so that refund is easy. Opt for a transparent platform that offers you the chance to snap up some of the best properties at a comparatively lower price.

DISCLAIMER

The news and data posted here is from various sources, published and electronically available. We have taken all possible care to verify and crosscheck the accuracy of the same. However, despite due diligence, sources may contain occasional errors.www.noidapropertydealers.co.in will not be responsible for any errors in such an instance.

Key reforms to give leg-up to real estate, say experts

The moves related to RERA Act, Real Estate Investment Trusts, smart cities, GST and demonetisation will eventually boost the demand for real estate, feel industry participants.

Key reforms to give leg-up to real estate say expertsMUMBAI: The government’s various policy and reform initiatives over the past two and half years aimed at improving transparency and ease of doing business in the realty space will infuse the much-needed confidence and trust in the sector, said industry participants.

The moves related to Real Estate Regulatory Act, Real Estate Investment Trusts, smart cities, Goods & Services Tax and the most recent demonetisation will eventually boost the demand for real estate, which has the maximum linkages to other industries after agriculture.

In its mid-term performance analysis for the Modi government’s realty-specific initiatives, international property consultant JLL India rated the reforms at moderately successful level, expecting faster implementation of the same.

“The recent demonetisation drive has definitely helped the government score well on regulations and transparency. We have taken a holistic view of the continued political will towards reforms in the real estate sector — and the very real challenges the government faces. Improved transparency will drive increased participation by institutional investors in India. With strong linkages between regulations, transparency and real estate, we assign it a high weightage,” said Ramesh Nair, COO — Business & International Director, JLL India.

The most imminent change that will impact the sector in the years to come is the implementation of RERA that will increase transparency, which in turn will bring back homebuyers’ confidence.

Given that investments are extremely crucial for a capital-intensive sector such as real estate, policy initiatives on Foreign Direct Investment liberalisation, interest rates, REITs and private equity flows, etc., have a strong bearing on the overall investment scenario.

“The reforms such as RERA, demonetisation and steps to improve ease of doing business have ushered in higher transparency while discouraging a parallel economy. This will prompt developers to focus on completing their projects in a time-bound manner thereby increasing customer confidence,” said Rubi Arya, Executive Vice Chairman, Milestone Capital Advisors.

According to her, as the property sector has been subdued for some time now, it offers for institutional investors an opportunity with better pricing and falling interest rates.

The long term fundamentals are also looking intact due to increased transparency and governance thereby providing attractive returns on investments in real estate as an asset class.

Realty developers agree that they will have to adjust to the new environment. However, they are also hopeful that in the long term, all of these factors will help strengthening the sector.

DISCLAIMER

The news and data posted here is from various sources, published and electronically available. We have taken all possible care to verify and crosscheck the accuracy of the same. However, despite due diligence, sources may contain occasional errors.www.noidapropertydealers.co.in will not be responsible for any errors in such an instance.

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