Revisiting Commercial Property in India by Ruchir Sen
Commercial property in India has found scope in places like Ahmedabad, Coimbatore, Hyderabad, Chandigarh Jaipur, Cochin, Goa, Mysore, Visakhapatnam and Trivandrum. It is the ideal chemistry of an ideal locale for setting up a small office or a hotel/retail business and reasonable pricing that is attracting people in droves here.
The commercial property market of Indian Real Estate has been consistently growing, albeit with a few hiccups across major locations in India. Many people are making the most of it and investing in small towns or buying up hotels, guesthouses, villas, cottages and resorts.
To those thinking of investing in Real Estate in India, the diversity the country offers give an idea of the richness of the range that it offers for buying/renting/investments are - apartments (service apartments) in bustling cities, hillside retreats, agricultural lands, shops and showrooms.
India properties have the backing of a growing and sustainable economy, new age economy businesses and new job opportunities in tune with global trends. Confident enough to support the mammoth opportunities in the Real Estate sector, India is moving to a well-defined regulatory and financing regime in place.
An investor's fear is put to rest with greater possibilities of rapid growth in the property rental sector in the next few years. Foreign information technology and customer services companies of the BPO sector are renting large commercial spaces. With regard to residential property in India, people are ready to pay large sums as rent for apartments, flats and homes, especially in metros and Tier I cities.
Real Estate property in India across all metros (including their micro markets) has been thriving on continuing healthy demand, attractiveness due to rising capital and rental values. A pace has been set for a large number of projects that have been started at major locations.
Properties in India in both residential as well as commercial segments have witnessed phenomenal price escalation (more than 250 % in most urban cities) in recent years. The projected office space is expected to increase to more than 367 million sq ft till 2012-13. State governments at many of these locations have taken on the mantle of policy initiative and improving infrastructure.
The State Governments of Gujarat, Punjab, Uttar Pradesh, Rajasthan and even West Bengal and Kerala are showcasing, as it were, the idea of promoting Ahmedabad, Chandigarh, Lucknow, Noida and Greater Noida, Jaipur, Kolkatta and Kochi as the next major business destinations in the country. New locations like Chandigarh and Mohali are enjoying the enthusiastic support of some NRIs.
Real Estate development in the commercial segment, even companies are being seen to warm up to the idea of having their bases in Tier III cities for cost advantage purposes. Setting up of malls, multiplexes, etc. at these places will set off the entire value chain of Real Estate (commercial) development.
The major factors associated with this are tremendous rise in information technology-enabled services industry, emergence of India as an important investment centre in the world market, growth in foreign direct investments and others.
About the Author
Ruchir Sen is a contributing author to the website listingbazaar.com -The Indian property listing portal. It is committed to provide visitors with complete information on Indian Real Estate Laws, Property listing India , commercial property in India, residential property in India, Indian property market. Your can send your feedback at ruchir.sen@gmail.com.
Commercial property in India has found scope in places like Ahmedabad, Coimbatore, Hyderabad, Chandigarh Jaipur, Cochin, Goa, Mysore, Visakhapatnam and Trivandrum. It is the ideal chemistry of an ideal locale for setting up a small office or a hotel/retail business and reasonable pricing that is attracting people in droves here.
The commercial property market of Indian Real Estate has been consistently growing, albeit with a few hiccups across major locations in India. Many people are making the most of it and investing in small towns or buying up hotels, guesthouses, villas, cottages and resorts.
To those thinking of investing in Real Estate in India, the diversity the country offers give an idea of the richness of the range that it offers for buying/renting/investments are - apartments (service apartments) in bustling cities, hillside retreats, agricultural lands, shops and showrooms.
India properties have the backing of a growing and sustainable economy, new age economy businesses and new job opportunities in tune with global trends. Confident enough to support the mammoth opportunities in the Real Estate sector, India is moving to a well-defined regulatory and financing regime in place.
An investor's fear is put to rest with greater possibilities of rapid growth in the property rental sector in the next few years. Foreign information technology and customer services companies of the BPO sector are renting large commercial spaces. With regard to residential property in India, people are ready to pay large sums as rent for apartments, flats and homes, especially in metros and Tier I cities.
Real Estate property in India across all metros (including their micro markets) has been thriving on continuing healthy demand, attractiveness due to rising capital and rental values. A pace has been set for a large number of projects that have been started at major locations.
Properties in India in both residential as well as commercial segments have witnessed phenomenal price escalation (more than 250 % in most urban cities) in recent years. The projected office space is expected to increase to more than 367 million sq ft till 2012-13. State governments at many of these locations have taken on the mantle of policy initiative and improving infrastructure.
The State Governments of Gujarat, Punjab, Uttar Pradesh, Rajasthan and even West Bengal and Kerala are showcasing, as it were, the idea of promoting Ahmedabad, Chandigarh, Lucknow, Noida and Greater Noida, Jaipur, Kolkatta and Kochi as the next major business destinations in the country. New locations like Chandigarh and Mohali are enjoying the enthusiastic support of some NRIs.
Real Estate development in the commercial segment, even companies are being seen to warm up to the idea of having their bases in Tier III cities for cost advantage purposes. Setting up of malls, multiplexes, etc. at these places will set off the entire value chain of Real Estate (commercial) development.
The major factors associated with this are tremendous rise in information technology-enabled services industry, emergence of India as an important investment centre in the world market, growth in foreign direct investments and others.
About the Author
Ruchir Sen is a contributing author to the website listingbazaar.com -The Indian property listing portal. It is committed to provide visitors with complete information on Indian Real Estate Laws, Property listing India , commercial property in India, residential property in India, Indian property market. Your can send your feedback at ruchir.sen@gmail.com.
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