Rising inflation and interest rates are slowing down property demand in India. A further interest rate hike could severely impact the real estate sector, except in Mumbai and Delhi where demand remains strong.
Lehman Brothers invests $175 million in a Mumbai mixed-use project with Unitech and local partners. The project includes 1 million sq ft of office space, part of an 18 million sq ft master plan.
The Mumbai airport upgrade will unveil 132 acres for non-aeronautical uses, significantly boosting retail, hospitality, and office spaces in the region.
By 2015, airport modernization aims to add 78 million square feet of real estate, boosting non-aeronautical revenues significantly, especially in retail and office spaces.
New airports in India will become business hubs with office, hospitality, and retail spaces, boosting real estate and attracting MNCs.
Land deals in prime metro city locations see decreasing prices, with Parsvnath's recent Connaught Place acquisition marking a 17% discount per acre compared to last year's rates.
Vacancy rates are rising in Bangalore and Chennai's tech hubs as IT companies seek new locations, causing concern for real estate developers.
Ishaan Real Estate Plc has leased 577,000 sq. ft. of office and retail space, predicting strong progress in construction and pre-selling residential units in Mumbai.
Citigroup, Merrill Lynch, and DE Shaw are set to invest $500 million in DLF Assets' REIT, which will now be a private trust following a change in plans due to market conditions.