By Mr.
Santhosh Kumar, JLL India
Delhi -
NCR Residential Real Estate 2013..!
In 2013, the outlook
remains promising for Dwarka Expressway because of its infrastructure
advantages and the locational benefits it enjoys. Dwarka Expressway has been
able to successfully withstand the heat that many other areas and pockets of
NCR have faced. The price sustainability and appreciation trends of the recent
past, and also its relative affordability, will continue to maintain investor
interest and confidence.
Other important areas
to watch out for in 2013 for residential realty will be New Gurgaon and
Manesar. The increase in commercial developments, its developing
infrastructure, continuing affordability and the proposed connectivity via
Metro and the Expressway will put this region on radar in 2013.
 |
| Santhosh Kumar, JLL India |
Noida Extension &
Noida Expressway will continue to generate interest. More and more IT / or ITeS companies target Noida Expressway for
its rental affordability when weighed against the upward rental trends that Cyber
City in Gurgaon will display.
Noida Expressway will
further increase its appeal as a residential hub. The comparatively better
infrastructure, easy accessibility and availability of affordable options will
appeal to both investors and end users. Supply in this region will not be an
issue, and good levels of absorption with appreciation in capital values are a
high possibility in 2013.
Delhi -
NCR Retail Real Estate 2013..!
No significant
quality retail supply is likely to hit the market in 2013. Though Mall of India
& Gardens Galleria are scheduled for launch in the late quarters of 2013,
there is every possibility that their launch will actually slip into 2014.
Select City, DLF
Emporia and Promenade, and Ambience Mall will continue to lead the bandwagon
& exhibit the best footfalls and sales figure in 2013.
Most of the malls in
Noida, East and North Delhi and to some extent West Delhi will continue to
languish under high vacancy, though the vacancy levels may reduce from current
levels due to the lack of new supply.
Delhi - NCR Commercial Real Estate
In 2013, the areas
which are likely to perform best in terms of office space absorption are:
Sohna Road..!
This region will
continue its appeal to office space occupiers in 2013 & beyond. Having
already positioned itself strongly as a de-rigueur destination for office
spaces, this region will see an increased influx of companies.
Rentals in Cyber City
are likely to be revised upward, placing it out of the budget appetites of many
IT / or ITeS companies whose comfort range of rentals is generally between Rs.
30 to Rs. 40 per square feet.
This will also result
in a closer consideration of Sohna Road as an office space destination for many
more corporates already based out of Cyber City. The healthy supply of
affordable, ready-for-occupation residential options will ensure a sustained
demand for office spaces in this region.
Noida Expressway..!
Good rental
affordability and relatively comfortable access to East & South Delhi,
Faridabad, Ghaziabad and the population of Noida will continue to work well for
this region in 2013.
IT / or ITeS companies with rental budget concerns
will increase their focus on Noida Expressway for their office space
requirements. Better infrastructure than in Gurgaon and more affordable housing
will provide a clear advantage.
Tips To
Real Estate Investors And End Users For 2013..!
The RBI (Reserve Bank
of India) has instructed scheduled banks to not allow a rollover of loans given
to real estate developers into next financial year (2013-14). This will mean
that developers / promoters will see an urgency to dispose of their unsold
inventory in order to be able to raise funds to pay back their loans. This
holds the potential for a major correction in residential prices in the NCR
region.
Moreover, the RBI has
already given a cue of likely rate cuts in future monetary policy review. This
will help in easing the liquidity situation. It is highly advisable for
prospective buyers not to hurry their purchase decisions. But to wait and watch
how the situation unfolds by the end of first quarter of 2013.
About the author..!
By Mr. Santhosh Kumar
is CEO – Operations at Jones Lang LaSalle India
Santhosh Kumar, CEO –
Operations, JLL India
+91 124 460 5000
santhosh.kumar@ap.jll.com
No comments:
Post a Comment