What makes Mumbai’s commercial property market so promising?

Natraj, Andheri

Rustomjee Natraj, Andheri

The commercial realty market in the financial capital of india is only set to grow further on the back of an improvement in global economies.

Market report shows that across India 13 million square feet of office space has been absorbed in the first half of 2013. Whereas, in the first half of 2012, this figure was 12.8 million square feet. Also in the first half of 2013, construction of around 19.3 million square feet of office space has been completed as compare to 10.7 million square feet of 2012, happened in the same time duration. The major portion of this growth, which occurred in the first half of 2013, belongs to Mumbai, making it the city registering the highest absorption of 3.8 million square feet of office space. At one hand the demand is growing high and on the other hand the supply is getting limited.

Read more: What makes Mumbai’s commercial property market so promising?

Real estate market: How to build India’s future cities

Real estate market How to build India's future cities

The main reason that the Indian real estate market finds itself in trouble today is that prices have become unaffordable, even for most professionals. The underlying reason for this is an artificial scarcity of land in our cities
The resultant shortage of land where apartments, offices and shops can be built inflates prices. Today, as demand starts to weaken across property markets countrywide, we need to think of ways to build really affordable real estate.

To know more: Real estate market: How to build India’s future cities

Afternoon: Consumer-Friendly Real Estate Bill To Come Up In Parliament

Click image to view full size

Click image to view full size

The government is all set to introduce a buyer friendly real estate legislation which aims the consumers and bring transparency in the sector in the Monsoon Session of Parliament.

The Monsoon Session of Parliament will begin on August 5 and the Bill, after its introduction, is likely to be reffered to the Standing Committee of Parliament for examination.

Times Of India: CII Inks MoU With National Housing Bank To Promote Green Housing

Click image to view full size

Click image to view full size

The purpose of the MoU is to jointly enhance and promote the adoption of energy efficient and green homes concept in India. The MoU signed in presence of Arun Kumar Mishra, secretary of the Ministry of Housing and Urban Property Alleviation, was inked between chairman of IGBC Prem C Jain and NHB executive director Arnab Roy.

Hindu Business Line: Bank Seek Priority Sector Tag For Loans To Affordable Home Builders

Click image to view full size

Click image to view full size

The Reserve Bank Of India is examining a plea by banks to recognize loans given to builders/developers of affordable housing projects as priority sector lending.
Strong demand on housing will have a beneficial impact, creating demand for steel, cement and credit, at a time when the economy is on the midst of a slowdown.

Business Standard: Save Taxes On Property Sale

Click image to view full size

Click image to view full size

Arun Kumar owns a residential property in his name which he uses as residence and also owns an office. Along with this, he has also inherited a plot of land from his father. Kumar works as a whole time director with a private company.

Indian Express: Inclusive Housing Needs The Right Policy

Click image to view full size

Click image to view full size

When metros are planning to bring in new thoughts for utilizing inner city space, it is necessary to move out of state-controlled projects. Marja Hoek-Smit, director, International Housing Finance Program at The Wharton School, University of Pennsylvania says the solution bring in both developers and those for whom the houses are being built into the equation.

Times Property: Commercial setups, connectivity boost residential demand in andheri east

Click image to view full size

Click image to view full size

Situated in the western suburbs of Mumbai, the eastern part of Andheri, known for its commercial setups, is becoming a promising residential destination to watch out for. The planned commercial development here includes the Maharashtra Industrial Development Corporation(MIDC), the Santacruz Electronic Export Processing Zone(SEEPZ) and the Solitaire Corporate Park. All of these projects are boosting the residential market in the locality. The area is well-placed and connected to major parts of the city, including the airport.

Real Asset Conference – In association with moneycontrol.com

At the Real Asset Conference held in association with moneycontrol.com, on 19th March, Mr. Chinmay Gersappa, GM, Corporate & Residential Sales, Rustomjee spoke on the Real estate asset class, that was followed by a panel discussion with eminent personalities from the Real Estate industry.

About Rustomjee, Mr. Gersappa comments that it is a predominantly Mumbai based developer, the company’s expertise is residential development, although Rustomjee has also undertaken resi-commercial, retail, across all the regions, but have a strong focus on residential spaces.

The panel discussion was moderated by Mr. Santosh Nair – Editor, Moneycontrol.com and joined by experts like – Mr. VK Sharma – CEO, LIC Housing Finance, Mr. Neeraj Bansal – Director (Risk Consulting), KPMG, Mr. Balaji Raghavan – CEO, IndiaInfoline, Mr. Sanjeev Dasgupta – President, ICICI Ventures (Real Estate) and Mr. Abhishek Kapoor – CEO, Rustomjee Urbania.

The discussion covered varied topics on the Real estate industry, trends and the issues and opportunities in the real estate sector. The Real Asset panel discussion focused on serious issues like affordability, assured return schemes being offered by developers and key regulatory changes required that need to be tackled for smooth functioning of the real estate industry.

Watch the event videos here:

Part 1:

Part 2:

Part 3:

For information about our projects, visit: www.rustomjee.com

Mumbai top property choice for Indian expats based in UAE

Rustomjee Summit at Borivali (E)

Rustomjee Summit at Borivali (E)

Mumbai has been revealed as the favourite spot for Indian expats in the UAE to buy property, despite the city’s soaring home prices, according to a new survey.

Thirty one per cent of Indians in the UAE said that Mumbai was their preferred destination for property investment in India, the results of the Indian Property Show survey released yesterday revealed. About 14,000 Indian expats in the UAE participated in the survey.

“Despite being the ‘highly unaffordable’ place, even for the upper middle income group back home, Mumbai has become a top choice for non-resident Indians [NRIs] in the UAE for investment in the real estate sector,” said Sunil Jaiswal, the chief executive of Sumansa Exhibitions, which organises the Indian Property Show, to be held in Dubai this month. Home prices in Mumbai have increased by 66 per cent over the past four years, according to a recent report by Jones Lang LaSalle.

Read more: Mumbai top property choice for Indian expats based in UAE

For information on projects by Rustomjee, please visit: www.rustomjee.com