India is growing and so does every aspect of life here.
New businesses are coming up keenly and existing ones are
cooking expansion plans on board.
To the other perspective, the country is home to huge
workforce and since their income levels are rising in
quite a decent manner, they are increasingly looking for
improved lifestyles.
Now, the moment you think about a business or your personal
lifestyle, you think of having a quality workspace and
a house.
Most of us don’t intend to buy properties forever
and reasons may vary from financial to personal. That’s
why renting property in India is the most sought-after
option to keep the ball rolling.
Meanwhile the demand for rental properties outstrips
supply in metropolitans like Mumbai, Delhi and Bangalore.
Since the vacancy rates are very low at prime business
and residential locations of these cities, the
rental values are subsequently pitching at higher rates.
As the business environment of Tier 2 cities like Chennai,
Hyderabad, Pune and Tier 3 cities like Kolkata, Jaipur,
Ahmedabad, Indore surges ahead and the real estate boom
subsequently passes on to these lands, the trends of residential
and commercial properties there are likely to remain northbound.
About 70 per cent of the total demand for real estate
in India comes from the residential segment. If you take
a wide angle view, it’s divided into two categories
of independent houses and multi-storey apartment buildings.
Apparently, the rental value of an independent house
further sub-classified as quarter, bungalow and villa--on
the fronts of quality and luxury, can be higher than the
flats and apartments. But the same is not always true
as many times a nicely-located quality apartment garners
higher rents than independent houses.
That’s why the factors of quality and luxury play
critical role in determination of rental values of a property.
Besides, it also depends on the state of economy and culture
of the city you aspire to rent a house at.
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more about residential rentals…
Being a land of business opportunities, India’s
commercial real estate segment is buzzing soundly. Though
we cannot generalize the ongoing rental trends for the
entire country, it has been marked that rents are northbound
at major tier-1 and tier-2 cities of Delhi & NCR,
Mumbai, Bangalore, Hyderabad, Pune etc.
IT and its allied industries dominate the scene of office
space in India sharing more than 75 per cent of the total
demand in the category.
Other categories like independent shops, retail outlets
and shopping mall space or multiplexes are the next major
demand areas.
The organized retail sector in India in linkage with
shopping mall space category can be attributed to usher
retail boom in India. An average size mall produces more
than 1-million sq. ft of space and holds massive business
potential, for retailers.
Meanwhile, a number of malls are under-construction at
different parts of the country and the space can be availed
of on rent there to leverage their commercial viability.
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more about commercial rentals…
While the robust services sector of the Indian economy
continues to clock impressive growth rates for the past
several years, the manufacturing sector has also been
turning reciprocal to the positive notes.
In the first quarter of the current financial year 2007-08,
the sector registered the growth rate of 11.9 per cent
the preceding quarter.
These figures simply indicate that the industrial scenario
in India is upbeat. Nonetheless, in order to accommodate
such growth rates, industrial units in India are scouting
for more and more to cherish their expansion plans, today.
Demand for industrial property on rent is on uptrends
at industrial hubs in northern India like Delhi, NOIDA,
Ludhiana, Faridabad, Meerut and Agra and the similar trends
are noticed at industrial townships with fair state of
infrastructure and facilities in and around Mumbai, Bangalore,
Chennai and Indore.
Development of Special Economic Zones (SEZs) across the
country has further triggered the boom in the segment
with an array of incentives and tax-breaks.
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more about industrial rentals…