An RTI reply stated that Vadodara has around 1 lakh of vacant properties. The RTI reply is considered as an alarm-bell for the real estate sector in Vadodara.
Sunset scene from Manjalpur Bridge in Vadodara: Confusion arises over the number of vacant properties.
According to an RTI reply, over 1 lakh of properties remain vacant in Vadodara. Meanwhile there appear no takers for the property, it added. The RTI reply which revealed that there are over 1 lakh vacant properties in Vadodara has been considered as a warning- sign for the real estate sector in the city.
RTI reply was made by the Directorate of Census Operations, Gujarat, to a native of Vadodara. A copy has been sent to the Vadodara Municipal Corporation as well. The RTI reply clearly stated that over 1 lakh properties, precisely 1.02 lakh, were vacant in the city. Continue reading →
Jones Lang LaSalle (JLL) India forays into the retail real estate India market with the company’s tie up with Everstone, one of the leading Private Equity (PE) firms and real estate advisors of India. Both the companies will collaborate in the construction and launch of four shopping malls at four main cities of India namely Vadodara, Kochi, Pune and Ahmedabad. These shopping mall projects are to be finished by 2017 or within a span of five years. Continue reading →
NEW DELHI: Growing demand for homes in smaller cities of the country is attracting real estate biggies. Cities like Bhopal, Bhubaneswar, Coimbatore, Indore, Jaipur, Lucknow , Nagpur, Surat , Vadodara and Visakhapatnam are estimated to add 354 million sq ft of residential development in the coming 03 years. According to a research, large builders like DLF , Unitech , Parsvnath , Omaxe , Ansals and Emaar MGF have already diversified into these cities. These cities today show huge potential for growth. These cities are attracting the big developers because of their considerable price stability and growth prospects. With economic activity picking up in these cities, there is a growing migration from smaller areas, which has created a shift towards an apartment culture. This shift will foster volumes for larger developers in the future.
Looking at this new demand, banks and financial institutions are also looking towards these cities to bridge the financial saturation gap.The growth prospects in the smaller cities are fascinating huge developers with multi-city existance.