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Reduce Unit Sizes To Improve Affordability Mumbai has a high residential inventory of 67,000 units, equal to sales of 34 months. While the underlying demand is strong, it is not being converted into transactions due to the high property prices. From a developer’s point of view, low absorption is a source of worry; however, due …
A leasehold property defines the status of the land on which the property is built. Leasehold land on which construction takes place is ordinarily on long-term lease of 99 years onward. Specific to residential property on leasehold land, one may use the example of the MMRDA’s Wadala development plan, wherein the land is given on …
Ramesh Nair, COO – Business, India, Jones Lang LaSalle Over the last five years, Greater Mumbai has seen a significant fall in the average sizes of residential apartments in the investible-grade category. Thane and Navi Mumbai, which along with Mumbai form the Mumbai Metropolitan Region (MMR), too witnessed a fall in apartment sizes, although to …
Ramesh Nair, COO – Operations, Jones Lang LaSalle India With the development potential of Mumbai’s Western Suburbs almost fully exploited, we are witnessing increased momentum in new developments in the Eastern Suburbs where land parcels are still available and prices more affordable. As a result, the 16.8 kilometre-long Eastern Freeway that connects P. D’Mello Road …
Bandra Kurla Complex is now one of the most strategic commercial and residential real estate locations in Mumbai – and, in fact, in the country. This extremely valuable location has gone from strength to strength ever since it was reclaimed from useless marshlands hemmed in by Bandra in the West, Kurla in the East and …
Mumbai’s commercial real estate stock is estimated to cross the 100 million square feet mark by the 4th quarter of 2014. The current stock stands at 87 million square feet. When it touches the 100 million square feet mark, the vacancy rate is going to hover at 22.2%. When the city’s supply of CRE reaches …
In the Indian city which has for years carried the unwholesome reputation of being the most over-priced in terms of residential real estate valuations, there is no relief in sight for aspiring home buyers. Over the last four years, property valuations in the financial capital have increased by an average of 66%. All ‘expert’ predictions …
In a landmark move that will have wide-ranging implications for commercial real estate in India, the Government has done away with the mandatory requirement of 10 hectares of minimum land area for setting up a IT/ITES SEZ. With immediate effect, the minimum built-up area requirements to be met by SEZ developers will be 100,000 square …
A Review Of 2012 Mumbai saw office absorption of 6.6 million square feet – down from 9.6 million square feet in 2011, reflecting a combination of lukewarm economic growth, lower employment generation and an overall decline in corporate buoyancy. Transactional activity from the BFSI sector was down, with many banks focusing on workplace strategies to …