For many owning a house is a dream that calls for a strict financial discipline, as the loan repayment tenure ranges from 10 years to 25 years. Housing, a basic need, also enables access to credit market by working as collateral/security.
A report by real estate services firm, Cushman & Wakefield, this month said the estimated demand for office space across the top eight Indian cities during 2013-2017 is expected to be 132 million sq ft (msf). The supply of new office space during the same period expected to be approximately 143 msf of which approximately 90 msf is under construction and expected to be completed by 2015.
“With economy expecting more stability in the post election phase from 2015, the absorption is expected to pick pace in Bengaluru, Mumbai and NCR. We expect growth to set in from the second half of 2014 when an increase in leasing activities both on account of entry of new companies, expansion of existing companies and relocation and consolidation activities that are expected to continue,” said Sanjay Dutt, executive managing director, South Asia, Cushman & Wakefield, in the report.