Buoyant economy, regulatory reforms has made India the most preferred market for outsourcing business among more than 75 percent multinational companies, says a survey.
India's rapidly growing organised retail sector offers a potential opportunity of up to USD 80 billion for both domestic and international retailers, says CBRE.
From a change in the definition of long-term with respect to immovable property to the introduction of tax deducted at source (TDS) if you are paying rent over a certain amount to measures which were aimed at boosting affordable housing, real estate was definitely a focus area for Finance Minister, Arun Jaitley.
While greater rebates were expected in individual tax rates, nonetheless the rebate for individuals earning upto 5 lakh will help increase their disposable incomes, says Anshuman Magazine, Chairman – India and South East Asia CBRE.
Anshuman Magazine, who is currently responsible for India region, will now oversee operations for 13 countries, including Singapore, Malaysia, Cambodia, Thailand, Vietnam and Philippines amongst others, CBRE said in a statement.
Reforms in FDI policy and relaxation of norms in Real Estate Investment Trusts (REITs) will benefit the realty sector, especially the commercial segment, property consultant CBRE said on June 23
Real estate industry experts welcomed the addition of 13 cities to the list of smart cities, saying it will distribute the benefits of urban development more evenly across the country and drive growth
"While the first quarter of the year traditionally witnesses muted transaction activity, the overall sentiment among India's corporate space occupiers is optimistic," CMD of CBRE, South Asia Pvt Ltd, Anshuman Magazine said.
According to the survey, respondents across major industry sectors remained bullish on their India expansion plan and are also likely to increase their headcount by 5-20 percent in the next two years.
London's West End was the world's highest-priced office market for the second straight year with overall prime occupancy cost of USD 273 per sq ft per year.
Office leasing stood at about 7.5 million sq ft in the year-ago period in these seven cities -- Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad and Pune.
Office space leasing rose by about 70 percent during April-June period at over 8 million sq ft in seven cities as compared to the previous quarter, driven by higher demand from online retailers that contributed 17 percent of the total absorption number.
In an interview to CNBC-TV18‘s Shereen Bhan, Sunil Munjal, Joint MD of Hero MotoCorp, Sumant Sinha, Chairman of ReNew Power, Anshuman Magazine, CMD at CBRE (South Asia) and Atul Punj, Chairman of Punj Lloyd gave their take on Arun Jaitely‘s Union Budget 2015.
Under normal listing, the tax comes to 25 percent in India and 13 percent in Singapore, whereas under REITs it is around 50 percent, says Anshuman Magazine, chairman and managing director of CBRE South Asia. He adds that foreign investors will only be interested if there is tax clarity on REITs.
Chennai recorded a 50 percent quarterly growth in the July-September period, with some of the bigger transactions involving properties like the Prestige Palladium in the heart of the city
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.
One has heard plenty on the high property prices in New Delhi, due to a shortage in housing. However, now ahead of the state elections this November, the Delhi Government has finally decided to do something about this, reports CNBC-TV18's Nayantara Rai.
CNBC-TV18's brand new series Prime Property is your weekly real estate reckoner; from new launches to hot deals, national price checks and trends. We bring you all the news in realty with the biggest voices in the business.
Realty consultant CB Richard Ellis India today said leasing activities for office spaces in major cities during April-June period has increased by over 33% to eight million sq ft compared to the previous quarter.