Home Sales Witness No Signs Of Improvement

There are no signs of improvement for home sales. The sluggishness has affected home sales across the country.

Various freebies and discounts are offered by the developers. Though these were expected to improve the sentiments of home buyers, weak home sales prove that these offers have no impact on the sluggish realty market. Continue reading

Housing Projects for Seniors, Bangalore Tops The List

There are seven housing projects for seniors in Bangalore. The city is far ahead to the others like Chennai and Pune which has three each such projects.

Bangalore is one of the prime IT hubs in India. It is known for its IT development. Temperate climate, end-user oriented residential sector, stable property prices, etc. were some of the most used adjectives for Bangalore city. Adding to all these is the top position for developing most number of housing projects for the ‘seniors.’ Continue reading

JLL to Raise Rs.1200 Cr Commercial Realty Fund

Jones Lang LaSalle is planning to raise a new realty fund. The main focus of JLL’s Rs.1200 Cr realty fund will be commercial sector.
JLL plans to raise Rs.1200 Cr to invest in the commercial realty.

JLL plans to raise Rs.1200 Cr to invest in the commercial realty.

BANGALORE: Late last year Jones Lang LaSalle launched a private equity fund. The PE fund collected Rs.300 Cr. Now JLL is looking forward to raise another realty fund for investing in the commercial realty.

If JLL collected Rs.300 Cr for investing in the residential sector, the new fund, which is four times bigger than the first, will be invested in the commercial realty.

Rs.1200 Cr realty fund is expected to be launched by the 2013-end. Their first fund was invested in Bangalore. JLL invested the amount in two residential projects.

Though the new fund is expected to be invested in the commercial sector, details are not available. Sources with direct knowledge say that the decision is not yet taken as to whether the investment should be domestic or offshore.

While senior executives of JLL could not be contacted for comments, a person with direct knowledge commented that the investment will be in the commercial sector. He added that the real estate consultants are looking for higher returns from their investment and for this commercial realty is better now. Continue reading

Home Sales Improve In Mumbai & Bangalore

Home sales, especially of new launches, improved during the period from January to March. The discounts offered by the builders have improved the sentiments of the buyers.
Bangalore and Mumbai witness improved home sales.

Bangalore and Mumbai witness improved home sales.

US financial major Merrill Lynch’s report stated that the sales of new launches improved. The real estate developers have offered various discounts to woo the buyers. According to the financial major the discounts do have an impact in the home sales.

New projects are launched at attractive prices. Besides they are offered with discounts. Attractive schemes by the developers do woo buyers and investors. New launches by renowned developers picked up sales during the first quarter of 2013.

Though the sale of new launches improved this year, Gurgaon saw a fall of sales. This slowdown is mainly because the builders have been focusing on completion of their ongoing projects. Besides they also focus on clearing the unsold inventories. Rising property prices also impacted the demand for new launches in Gurgaon.

Merrill Lynch said that there will be price correction in Mumbai in the upcoming years. Property prices in Mumbai have appreciated at 14% over the last decade. Continue reading

Jones Lang LaSalle to invest in Bangalore realty

Bangalore seems the most preferred realty investment destination for Jones Lang LaSalle (JLL). Global property consultant will make their entry into the investment arena by investing in Bangalore.
Stable residential market in Bangalore attracts Jones Lang LaSalle.

Stable residential market in Bangalore attracts Jones Lang LaSalle.

Out of its first India-focused real estate fund, Jones Lang LaSalle will make an investment. However their first investment will be in Bangalore, their most preferred choice.

As per the available sources, Jones Lang LaSalle plans to invest Rs.30 Cr in Bangalore for developing two luxury housing projects. The deal will be done under Jones Lang LaSalle’s Segregated Funds Group. The closed fund has collected a total amount of Rs.300 Cr.

Four sites in Bangalore have been identified by Jones Lang LaSalle. JLL has entered into final talks with two developers of the city. If the talks come in the way JLL expects, the developers will be developing two residential projects in the city.

Last year itself, Jones Lang LaSalle received the approval of Securities and Exchange Board of India. Continue reading

Bangalore Sees Rentals of Top-End Villas Declining

Rentals of top-end villas declined in Bangalore over the past year. This is mainly due to the increased number of villa projects in Bangalore.
Top-end villas face rental decline in Bangalore

Top-end villas in Bangalore face decline of rentals.

With many upcoming residential villa projects in the city, Bangalore now sees a decline of rentals of top-end villas. Moreover the rentals are affected by the lowered number of expats in the city.

Available data prove that the rentals of top-end villas have declined by 25 to 30% in the past year.

DTZ India, a leading property consultant, reported that the rentals in Whitefield are going at lower rates. Whitefield, last year, had seen a growth of rentals from 2.5 L to Rs.4 lakh per month. However the rental rates have gone sharply down this year.

Another realty consultant L J Hooker India too reported a similar fall of rentals in the city. It stated that the rental, even at the most sought after Palm Meadows, have fallen sharply from Rs.4 lakh to Rs.3 lakh per month.

Most corporates have reduced their budgets due to the tight global market conditions. Some of them even had the plans to cut short the number of expat. Continue reading

Bangalore Residential Market Goes Green Now

Green buildings are slowly becoming the new trend in the Bangalore residential market. Recent reports show that the number of green buildings is increasing in the city.
Green buildings strike Bangalore residential market .

Green buildings strike Bangalore residential market .

There are totally 41 LEED India-acknowledged green buildings in Karnataka. Out of these 41 green buildings 39 are in Bangalore. Now you realize how Bangalore residential market is becoming green now.

Karnataka has fourth-maximum number of green buildings in India. However there is a good appreciation from the buyers’ side as well. The people in Bangalore demand more for green buildings now and it seems to have become one of the leading trends in Bangalore residential market.

With the highest number of green buildings, Maharashtra is on the top list which is followed by National Capital Region and Tamil Nadu.

According to the industry experts; in India, the number of residential apartments – compared to commercial buildings, will be more by 2030. Continue reading