With this bracket of consumers coming under serious risk of a job loss, there is a possibility that recovery of residential sector in the mid-premium category will be delayed
Hong Kong, Shanghai, Beijing and Taipei have joined London, Paris and New York as global luxury retailers' most favourable cities, the report from real estate consultancy Jones Lang LaSalle (JLL) said.
The event comes amid tough times for the city state's property market. Real estate services company, Jones Lang LaSalle (JLL), claims villa and apartment prices have fallen by 11 percent and 10 percent respectively in the past year, with hotel rates also heading south.
The Bill may also create hurdles for small builders as it will slow down the project clearance process, they feared.
The deal is considered to be highest ever as the property has been bought for personal-use, industry experts said. Jones Lang LaSalle (JLL), an international consultancy firm which carried out the deal, has confirmed the sale.
As part of the development review, the Maharashta government is looking at an increase in FSI. The FSI essentially determines how tall a building can be.
Prime Property asks international property consultant Jones Lang LaSalle for trends to watch out for in 2015.
An Indian owned and controlled company can purchase agricultural land for construction, development provided all applicable laws, rules and regulations being enforced are duly complied with.
Property consultant Jones Lang LaSalle says Hyderabad has most state-of-the-art infrastructure in Andhra Pradesh.
Om Ahuja, CEO â€“ Residential Services, Jones Land LaSalle, said, "Chembur happens to be the best connected place of Mumbai and will continue to see lot more demand there. There is not too much of supply which is hitting Chembur as a market."
According to Jones Lang LaSalle India's recent research report, many key cities in India have faced supply constraints in terms of the right quality of malls, which is discouraging high-end and luxury retailers to expand.
Supreme Court's latest order frees private forest land in Mumbai for real estate projects which will make way for more than 100 real estate projects.
The fear is the BJP may also do the same in the states it is in power such as Rajasthan, or even worse, roll back the reform in entirety if it were to form the government in 2014. The party in the past has threatened to do so.
The WEF 2014 theme - 'The Reshaping of the World: Consequences for Society, Politics and Business' - is intriguing. Jones Lang LaSalle, as strategic partner to the WEF, will particularly focus on fostering a new appreciation for the role that real estate plays in reshaping the world‘s geography.
â€œDavos is an incredible meeting of movers and shakers from across industry and I want to gauge what their response will be if we end up with a hung parliament and no decisive leadership after the election in a few months‘ time,â€ says Anuj Puri.
Jones Lang LaSalle thinks Hyderabad's realty market is currently very under priced.
According to Ramesh Nair, commercial markets in most parts of India have bottomed out and this is definitely a good time for high networth individuals to get in and invest in commercial real estate.
Strong demand for quality retail space, coupled with limited supply, has supported high street rents in prime Asia Pacific markets over the third quarter of the year according to Jones Lang LaSalle‘s inaugural quarterly Retail Index.
Eventually emerging markets may surpass mature markets in pure volume owing to the size of their population. E-commerce gives retailers the potential to reach new customers that physical locations cannot, particularly in remote, rural locations.
Office space demand continued to remain moderate in October in Mumbai . The month was characterised by major occupiers renewing their leases with landlords being flexible over terms and offering discounted rents.
Pune market witnessed healthy transaction activity in October. Vacancy rates declined with the combination of robust demand and restricted ready supply in the city
A report by Jones Lang LaSalle highlights Sri Lanka's hottest potential retail hotspots and sharp-focuses on Colombo, which is the gateway for international tourists and a prime business destination.
For the first three quarters of the year, the region's commercial real-estate transactions totaled USD 89.6 billion, up 25 percent from a year earlier, Jones Lang LaSalle said, adding transactions exceeded its expectations.
The Real Estate Bill will definitely impact developers, but on a positive note, it will help customers against unscrupulous developers. On a negative note, it will make land aggregation for large projects even more difficult, said Rohit Poddar, MD, Poddar Developers.
Here's a map a few clusters across the seven metro cities in India based on the various qualitative and quantitative factors catering to the preference for luxury retail.