Global capital markets director Harry Rogers joins Knight Frank India.

Shishir Baijal, Chairman of Knight Frank, emphasized the importance of Rogers’ appointment regarding the new hire when India’s real estate market is flourishing. 

Harry Chaplin Rogers has joined Knight Frank India as the director of International Capital Markets, the real estate consulting firm announced on Monday. It will be entrusted to Rogers to spearhead the company’s efforts to assist local and foreign clients in locating investment opportunities in the Indian real estate capital markets. According to a press release from the company, “He will play a critical role in connecting offshore capital requirements with the Indian real estate client base.” 

Rogers will work with clients from the beginning of the transaction, investigating different funding options up to the capital stack. According to the company, Knight Frank’s global capital markets network combines the strengths of Knight Frank and Berkadia, a top US capital advisory firm owned by Berkshire Hathaway and Jefferies. 

In response to his appointment, what did Harry Rogers say? 

Rogers praised India’s stable economy as a growth accelerator and described his appointment as an exciting opportunity. “Being one of the world’s most stable economies with consistently high growth rates, the Indian real estate market offers an exciting opportunity for domestic  and global funds.” A robust mid-to long-term economic outlook, coupled with recent growth in office, warehousing, logistics, and other core and non-core sectors, presents many reasons for global and domestic investors to support investments in India. “I am excited to be joining Knight Frank, a truly global business with an unmatched track record spanning more than a century,” he said. 

According to the company, Rogers’ responsibilities include transaction structuring for offshore investors and Indian investment managers. Frank is eager to gain from Rogers’ expertise in global markets, especially in London. Knight Frank stated, “Among his responsibilities were leading transactions involving residential and commercial assets, personally helping his company to transact on deals worth over $300 million in the last three years.”

Concerning the most recent addition, what did Knight Frank say?

Regarding the new hire, Knight Frank Chairman Shishir Baijal emphasized the importance of Rogers’ appointment during a period of expansion for the Indian real estate industry. “India’s economy is expanding at one of the fastest rates in the world, and by 2030, it will continue to rank third in terms of GDP. It is becoming increasingly known as a desirable place to invest for foreign and domestic investors because of its strong domestic demand, long-term economic stability, and extensive infrastructure development. Following the COVID-19 pandemic, investors are inclined to diversify their portfolios to mitigate risk. India presents a good chance in this situation because of its solid foundation. He remarked, “I am excited to work with Harry to demonstrate to international investors the possibilities of investing in India.

NCR Residential Market Hit by Delayed Projects

Delayed projects have hit the NCR residential market. Due to the delay of projects the home sales have dipped in the NCR.

NCR residential market is affected by construction delay.

NCR residential market is affected by construction delay.

DELHI-NCR: The prospective buyers are nailed by delay in projects. As per a recent report by Knight Frank states that new launches in the Delhi-NCR has fallen by 31%. It has adversely affected the NCR residential market.

As per the report, NCR residential market has nearly 1,40,000 unsold inventories. Out of this, over 27% is under construction.

As per the Knight Frank India report the 33,500 units were launched in the second half of 2012-13. This shows a fall of 31%. Global property consultant firm warns that the launches will see slowdown in the coming months too, affecting the largest residential market.

Developers are finding it really hard to complete the projects. The escalating prices of raw materials make construction costlier. This prompts the developers to invest more. Difficulty in finding sufficient fund is thus another reason for delayed projects. Continue reading

Anand Rathi and Knight Frank Eye the Second Realty Fund

Anand Rathi Financial Services and property consultancy Knight Frank India are planning to launch their second real estate fund by end of this months and looking to raise around Rs 500 crore (~$100 million), sources close to the development told VCCircle. Unlike its peers who are hitting foreign shores to raise new funds, the joint fund rental yield and appreciation portfolio (RYAP) fund will be raised from the domestic market.  Like its predecessor, it will invest in commercial assets in tier I cities which include Mumbai, Pune, Bangalore, National Capital Region (NCR) and Chennai.

The fund would be targeting returns of 10-12 per cent from its investments and expects to stay invested in an asset for four-five years. A senior executive of the joint venture fund house who did not wish to be identified, said, “We are waiting for final Alternate Investment Fund (AIF) guidelines as right now there is no clarity on registration of funds and other norms. Once we have clarity on the same which we are expecting by mid-May we will register and start our fund raising process.”

In April 2, markets regulator Securities and Exchange Board of India (Sebi) had unveiled its final norms to regulate AIF’s in the country. Fund managers expect the detailed guidelines to be issued in the next two weeks.

Knight Frank India and Anand Rathi Financial Services had joined hands two years ago to raise Rs 225 crore rental yield fund. It has invested Rs 135 crore from the existing fund in two projects including Hub town Ltd’s commercial project in Mumbai and Cerebrum IT park development by Pune-based Kumar Urban Development Ltd.

Demand for Super Luxury Housing is Back

Chennai Properties - Real Estate India - Villa Viviana 1

Luxury Property

The super luxury housing segment whose range was from Rs. 4 cr to Rs. 30 cr and which had taken backseat during the slowdown is now coming back. The demand for these residential properties has risen by 30- 40 percent.

The real estate firms such as Lodha Developers, Orbit Corporation, and Skyline Constructions are taking advantage of this demand hike and plan to cash in on a rather specialized alcove- the boutique homes category.

According to the national head (residential agency) Knight Frank India, Anand Narayanan KB, the sales of such luxury boutique homes are much higher as compared to volume luxury properties since there is limitation in this segment.

The HNI segment is to be hit by these homes. This includes senior professionals, CEOs, wealthy non-resident Indians and entrepreneurs in new-age businesses who are seeking for house in India. The CEO, Homebay Residential, Jones Lang LaSalle Meghraj, a real estate services firm, Mr. Raminder Grover noticed that the prices of luxury homes has gone up by 20%.

However, he also added that the prices should not rise now and become stable or otherwise the demand will go down again.