Retail leasing hit 1.6 million sq ft in Q3 2024, with high street rentals up 15% YoY.
Retail leasing of 1.6 mn sq ft was recorded in the third quarter of 2024 with Hyderabad, Delhi NCR, and Mumbai leading the volume. High streets and not malls dominated the leasing landscape, accounting for 68% of the total retail space leased this quarter. Also, high street rentals witnessed an average growth of around 15% in the quarter.
According to the Cushman & Wakefield Q3- 2024 Retail MarketBeat Report, high streets dominated the leasing landscape, accounting for a 68% of the total 1.6 million square feet (MSF) leased this quarter, with Hyderabad, Delhi-NCR, and Chennai accounting for 70% of the total mainstreet leasing volume.
Donald Trump’s advice to Indian real estate partner
Trump Towers is set to benefit further from Donald Trump’s sweeping win in the US elections. The Indian partner Tribeca has finalised six new deals totalling 8 mn sq ft with the US brand.
These are expected to have a sale potential of over ₹15000 crore.
India has the highest number of Trump branded projects in the world, after the US, with four Trump branded projects, totaling 3 m sq ft.
The new projects will be located in Pune, Gurugram, Noida, Mumbai, Hyderabad and Bengaluru. “Two deals will be with repeat partners,” he said, adding at least four deals will be announced by early December.
CapitaLand Investment raised S$131 million from Daibiru Corporation for its India fund.
Global real estate asset manager CapitaLand Investment Limited (CLI) on November 6 announced that it has secured a S$131 million capital commitment from new Japanese capital partner, Daibiru Corporation, for its India private fund – CapitaLand India Growth Fund 2 (CIGF2).
The capital commitment will increase CIGF2’s funds under management (FUM) to more than S$1 billion, the company statement said.
Daibiru Corporation is a real estate subsidiary of shipping major Mitsui O S K Lines, Ltd in Japan.
CIDCO Mega Housing Scheme receives huge response; 70,000 people apply
Navi Mumbai: CIDCO’s mega housing scheme, ‘My Preferred CIDCO Home’ has seen a huge response, with around 70,000 applications already in for 26,000 houses located close to public transport facilities. The scheme is open till November 11.
Chief minister Eknath Shinde inaugurated the housing scheme for the Economically Weaker Section (EWS) and Low-Income Group (LIG) in Vashi on October 11. A ₹2.5-lakh subsidy under the Pradhan Mantri Awas Yojana is available for EWS applicants.
Delhi-NCR, Bengaluru housing prices up 29%.
New Delhi: Housing prices in Delhi-NCR and Bengaluru appreciated 29 per cent year-on-year in the July-September quarter on strong demand, high input cost and an increase in the supply of luxury homes, according to Anarock. Real estate consultant Anarock’s data showed that the average prices of residential properties in Delhi-NCR increased 29 per cent to Rs 7,200 per square feet in the July-September quarter from Rs 5,570 per square feet in the year-ago period.
In Bengaluru, the prices grew 29 per cent to Rs 8,100 per square feet in the third quarter of this calendar year from Rs 6,275 per square feet in the corresponding period of the previous year.
This forward-looking approach is designed to harness growth opportunities in a rapidly evolving economic environment, enhancing Godrej Capital’s portfolio and establishing a stronger foothold in the competitive financial services sector.
These efforts are aligned with national housing affordability initiatives and are expected to significantly increase the firm’s market presence and impact on various consumer segments.
DDA housing scheme: Over 1200 LIG flats sold out
New Delhi, Over 1,200 LIG and 440 EWS flats were sold out in DDA’s Sasta Ghar and Madhyam Vargiya Housing schemes, an official statement said on Saturday. In Ramgarh, out of 183 LIG flats in the scheme, 153 flats were sold, it said. While 708 LIG flats were sold in Rohini and around 250 flats were booked in Narela.
Among the EWS segment, around 300 flats were sold out in Narela and all 139 flats offered in Loknayakpuram were also booked, it said.
Since the first day of the booking on September 10, the scheme has received an impressive response with all HIG flats offered at Jasola being sold out on Day 1, the statement said.
The latest to join the bandwagon were flats in Dwarka, where a balanced inventory of one penthouse, three super HIG, 18 HIG and a majority of MIG got sold in the bidding.
Why India is a poster boy for NRI investments: A realty sector perspective
India’s real estate market has increasingly attracted Non-Resident Indians (NRIs), establishing itself as a reliable and rewarding investment destination. Amid global economic uncertainties, India has proven to be a beacon of stability and growth for real estate investments. Several factors make India the go-to choice for NRIs, from rising property prices to strong rental markets and a resilient economy.
In contrast to the stability of the Indian housing market, global real estate sectors have faced significant challenges. In the USA, high interest rates and a shortage of housing supply have slowed the market. Meanwhile, China’s real estate sector is dealing with a severe crisis, with major developers defaulting on loans and creating uncertainty for investors. This global downturn has pushed NRIs to consider India’s relatively stable and growing market, where property investments are secure and poised for growth.
Nippon India MF launches passive funds on auto, realty indices
Automobiles and real estate sector accounts for 7 per cent each in GDP and real estate sector alone serves as the second largest employment generator, accounting for 18 per cent of total employment.
Passive funds have several inherent advantages for investors, such as low cost, diversification through a single unit and transparency, as both the funds will mirror their respective indices.
The automobile sector accounts for 7 per cent of the country’s GDP and is characterized by its diversity, including manufacturers of passenger vehicles, commercial vehicles, three-wheelers, twowheelers and automotive components.
Banking on bricks: The real story behind India’s real estate boom
India’s real estate sector, significantly buoyed by a robust economy, has emerged as a pivotal player in the country’s development. With an 18 per cent share in national employment, real estate is the largest employment generator after agriculture. Currently valued at $493 billion, the sector contributes 7.3 per cent to India’s gross domestic product (GDP).
Our projections indicate this to increase to Rs 5.8 trillion by 2047, or 15.5 per cent of India’s economic output. Key growth drivers include rising urbanisation, increasing disposable incomes, and heightened demand for residential, commercial, and logistics spaces, besides a growing need for data centres fuelled by advances in the space.
Economic growth, increased employment opportunities, higher disposable incomes, and the expanding reach of e-commerce into smaller cities have positioned these regions as the next growth fulcrum for the retail real estate sector.
Disclaimer: The information in this newsletter has been compiled from various public domain sources and is presented as a summary for general informational purposes. Our research team verifies all content, but we do not claim originality of the research or images included.