RECENT RESEARCH
More than 40.0 million sq ft of new supply is scheduled for completion by 2020 to qualify for income tax benefits in SEZs, it seems unlikely that all the projects will be completed by then.
Bengaluru, one of the fastest-growing and top-performing office markets in India, is expected to retain its pivotal position of a 'Technology Hub' in the country since the talent pool offered by Bengaluru is unequalled by any other city. However, we expect the city's office market dynamics to change over time in terms of location preferences, workspace design and occupier profile.
While general expectations were tilted towards a more populist Budget, the objectives of the Union Budget 2018-19 were to provide an impetus to economic growth through extensive capital outlays in the agriculture, infrastructure, manufacturing, education and healthcare sectors, and ensure credit availability for businesses.
The year 2017 witnessed a pan-India leasing volume of ~42.8 million sq ft (3.9 million sq m), excluding renewals and pre-commitments, which is marginally up from 2016 absorption level (~41.6 million sq ft in 2016).
City reports: Bengaluru | Chennai | Delhi | Hyderabad | Kolkata | Mumbai | Pune | Gurgaon | Noida
After almost two-quarters of weakness, India's real GDP growth bounced back from 5.7% in calendar Q2 2017 (Q1 FY2017) to 6.3% in calendar Q3 (Q2 FY2017). GDP expansion is likely to be driven by improvement in industrial production, a pick-up in consumption and increased infrastructure spending.
Pallavaram - Thoraipakkam Road (PTR), the 11 km stretch located in the Old Mahabalipuram Road (OMR) Post-Toll market is gearing up to entice numerous multinational companies and small and medium enterprises to Chennai.
Artificial intelligence (AI) and automation pose a long-run threat to demand for space. However, they will also support high-value human roles and drive productivity. Together, AI, the Internet of Things and alternative workplace solutions will transform the office.
The residential market witnessed a 17% decline in the number of new launches since H2 2016 with 40,600 new units introduced in the first half of 2017 in prime cities.
City reports: Bengaluru | Chennai | Mumbai | Pune | Gurgaon | Noida
The state of Maharashtra was one of the frontrunners to notify the rules and set up a website to register the projects. As the Maharashtra government is still in the process of ironing out the details of RERA's implementation; developers, promoters and real estate agents are also trying to adjust to the new environment.
The long awaited Mumbai Draft Development Plan (DP) 2014-2034 is in final stages of approval and likely to be implemented in 2017. To support and achieve the national objective of "Housing for All" by 2022, provisions have been made in the DP to open up additional land for affordable housing projects to target the construction of 0.5 million homes.
India offers a great opportunity for coworking space operators to profit from rising demand for flexible, innovative and collaborative workspace designs. Although it represents only a small share of the total leasing demand, coworking operators are planning to lease 8 to 9 million sq ft by 2020.
