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<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Anuj Puri/Google PlusAnuj Puri, Chairman &amp; Country Head, JLL India, formerly Jones Lang LaSalle, spoke to Business Insider in Davos, Switzerland for the WEF meeting.</div></div></div>India's growing middle class and burgeoning retail and commercial sectors, coupled with the dearth of properties, make the country's real estate market a potentially lucrative place to invest.However, there is one part of the real estate market that is set to implode - luxury and premium properties.That's what Anuj Puri, Chairman &amp; Country Head, of JLL India (formerly Jones Lang LaSalle) told Business Insider on the sidelines of the World Economic Forum in Davos, Switzerland."Mostly all sectors of India's real estate market are good for investors apart from one - luxury and premium properties. A lot of developers got it wrong and didn't realise that we don't have many millionaires and billionaires in India so the luxury and premium market is going to take a beating. There's too much supply and too little demand," said Puri."But what we do have is a growing middle class and at the moment, as latest data from March 2015, it shows there is a 18.3 million dwelling unit shortfall. Affordable housing is very lucrative. When I say 'affordable housing' I am talking about the $75,000 to $100,000 range. There is huge demand."JLL and its country head for India, Puri, are pretty perfectly placed to make the call on where the Indian property market is going. After all, JLL is one of the world's leading and largest real estate and investment management companies with $6.2 billion in market capitalisation. Puri also oversees a team of over 8000+ employees across 11 cities in India.<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">ReutersHigh-rise residential towers under construction are pictured behind an old residential building in central Mumbai.</div></div></div>Puri says that affordable housing isn't the only potentially lucrative area for property investment - retail, warehouses and commercial real estate are all areas that are seeing demand growth."Retail properties are also a great opportunity for investors as people have better buying power," said Puri."There is also a lot of opportunity, which not a lot of people have identified yet, in warehouse and logistics. In India, most of these compaies are non-sophisticated and 'mom and pop' shops and it doesn't seem very sexy for an investor but it could be a great area for expansion if the '<a href="https://www.bankbazaar.com/tax/indirect-tax.html">Indirect Tax Bill</a>' gets through parliament."Indirect Tax is when the Indian government collects take from an intermediary such as a manufacturer or retailer. It's pretty complicated but the current government led by Narendra Modi is trying to get this changed and more streamlined by introducing a uniformed Goods and Services Tax (GST) bill.And Puri thinks this could be the key to opening the market up more to foreign investment and "trust" for companies looking to bring business to India."Hopefully the bill (which unifies tax rates) will go through. At the moment, India has 29 states with 29 taxes," he said."As a company like Proctor and Gamble for instance, you aren't going to set up units or warehouses in different parts of India and worry about what taxes they have to pay in each different state. It makes it too difficult for people to do business." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/volkswagen-brand-chief-apology-ces-scandal-vw-herbert-diess-2016-1">Volkswagen's brand chief gave an extended apology before their CES keynote</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="Z2OTcxMDE6jEOoKMTCYmvKW9Pm28yMpX" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

This real estate CEO told us which specific part of India's property market is going to 'take a beating'

Hyderabad, Pune, Navi Mumbai, and Ahmedabad are among the top 10 most <a href="http://www.businessinsider.in/searchresult.cms?query=affordable+property">affordable property</a> markets in the country according to JLL India. The other six cities are Kochi, Ghaziabad, Jaipur, Nagpur, Surat and Coimbatore. 
 
"These towns and cities offer a wide spectrum of investable options in <a href="http://www.businessinsider.in/searchresult.cms?query=real+estate">real estate</a> with relatively lower property price levels, providing the incentives for future capital appreciation and healthy returns," JLL India Chairman and Country Head Anuj Puri said. 
 
Puri said Hyderabad is the most affordable cities among all tier 1 cities of India. Even the well-developed <a href="http://www.businessinsider.in/searchresult.cms?query=residential+areas">residential areas</a> there offer properties in the budget range. 
 
JLL said Pune has recorded a healthy growth in the <a href="http://www.businessinsider.in/searchresult.cms?query=affordable+property">affordable housing</a> segment. However, these are on the periphery of the city and offer small 1-2 BHK flats with basic, no-frills amenities. 
 
"While property prices have increasingly become unaffordable in Mumbai, Navi Mumbai still provides numerous options for residential housing within the budget of Rs 30-50 lakh," Puri said. 
 
Image Credit: Indiatimes

Considering buying affordable property? Pune,
Hyderabad, Navi Mumbai among best bets!

New Delhi, Jan 28 () Homegrown housing brokerage firm Anarock is entering the commercial real estate consultancy business to sell office properties and will invest Rs 100 crore as well as hire 500 employees by the middle of the next year for the business, a top company official said on Tuesday.
 Anarock, which was formed in April 2017 by Anuj Puri after serving global property consultant JLL, will not lease office spaces, a segment dominated by international property consultants (IPCs) like JLL, CBRE, Cushman &amp; Wakefield, Knight Frank, Colliers and Savills.
 "We are entering into commercial real estate and will focus on strata sale of office assets. This market is very vibrant. We have formed a separate vertical Anarock Commercial with 100 staffs for this new venture," Anarock Chairman Anuj Puri told .
 Asked about investment, he said the company would infuse Rs 100 crore into this new business and hire 500 persons by June 2021.
 "We are starting with three cities Mumbai Metropolitan Region (MMR), National Capital Region (NCR) and Bengaluru. Later, we will expand to other cities," Puri said, adding that the company has already secured mandate from builders to sell 3 million sq ft.
 Talking about potential, Anarock Chairman said that the brokerage in selling office assets is higher at 2-7 per cent compared to 2-4 per cent in the housing segment.
 "Sales of office assets require less workforce than housing and are more profitable", he said.
 On revenue potential, Puri said, "We are targeting a brokerage income of Rs 100 crore for the next fiscal".
 Anarock, which posted a turnover of nearly Rs 190 crore last fiscal, has presence across India and the Middle East with over 2,000 employees.
 In a statement, Anarock said it has appointed Bappaditya Basu as chief business officer of Anarock Commercial, a separate entity for this new venture.
 "Rs 2.5 lakh crore worth of Grade-A office space under construction in top-7 cities to be completed over the next 4 years; 25 per cent (worth Rs 63,000 crore) up for strata sale," it added.
 Anarock Commercial would operate in MMR, Delhi-NCR, Bengaluru, Hyderabad, Chennai, Pune and Kolkata.
 "Office asset ownership has gained significant traction with investors, including NRIs (non-resident Indians). Depending on the exact location and building facilities, the rental yield ranges from 7-9 per cent for Grade-A office assets and between 9-10 per cent for non-Grade-A spaces," the company said.
 Unlike the housing segment, the commercial real estate market is performing well and achieved record leasing of office space in 2019, which saw successful listing of India's first real estate investment trust that helps monetise rent-yielding assets. MJH HRS

Anarock enters commercial property brokerage biz; to invest Rs 100 cr, hire 500 persons by mid-2021

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">ReutersArun Jaitley, Minister of Finance of India attends the session "The Global Economic Outlook" during the annual meeting of the World Economic Forum (WEF) in Davos, Switzerland January 23, 2016.</div></div></div>When Narendra Modi became India's 15th Prime Minister in May 2014, he had a heavy mantle to take on.The country experienced decade-low GDP growth in 2013 and Heritage's Index of Economic Freedom gave India poor scores for business freedom, corruption, and various other issues which affect businesses.International relations with the business community were also heavily damaged when the previous government, led by Manmohan Singh, <a href="http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/telecoms/9783296/Vodafone-faces-1.6bn-tax-bill-from-India.html">hit Western telecoms giant Vodafone with a $2.5 billion (£1.6 billion) retrospective tax bill</a>.It put fear in the hearts of many Western corporates with subsidiaries in India because it symbolised how they could be potentially blindsided by the government for crippling amounts of cash.But one of the country's most prominent CEOs at one of the largest companies in the country, Anuj Puri, told Business Insider that during a secret dinner during the World Economic Forum in Davos, Switzerland last week, a strong exchange of words between the country's finance minister Arun Jaitley and the leader of the opposition summed up how India is at a crossroads right now when it comes to regaining the trust of international businesses.<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Thomson ReutersIndia's Prime Minister Modi gestures as German Chancellor Merkel watches during a photo opportunity ahead of their meeting at Hyderabad House in New Delhi</div></div></div>"This year there is a much better perspective over India but people are still sceptical in the business community because the previous government regime did lots of damage to the economy," said <a href="http://uk.businessinsider.com/jll-india-anuj-puri-davos-interview-india-property-and-investment-2016-1">Puri, Chairman &amp; Country Head, of JLL India (formerly Jones Lang LaSalle)</a>.JLL is one of the world's leading and largest real estate and investment management companies with $6.2 billion in market capitalisation. Puri also oversees a team of over 8000+ employees across 11 cities in India."They moved one step forward and then two steps [backwards] and the retrospective taxation of Vodafone made the international community mistrust India for business. The mood is sombre at a global level but India has started to gain back some momentum of trust with this government.""I was at a dinner with only 4 or 5 of us last night (Friday January 22) and the current finance minister of India was being told by the leader of the opposition [Puri did not specify the name] to 'not miss the bus' when it comes to the country's economy and getting more foreign business into India. Our current finance minister told him that we are fortunate to even bring India to the bus stop because the previous government wasn't anywhere near.""He added that this current government has enabled the first step to even get to the bus stop while the previous government lost the opportunity to even get onto to bus but now, the government is trying to push through reforms of liberalisation, investment in human capital and rebuild trust in the international community. It is also looking to nurture entrepreneurs. 'Yes we haven't reached the destination but we made the bus stop,' said the current finance minister."India's economy has steadily grown from those record lows in 2013. Trading Economics noted (emphasis ours):"Indian economy expanded 7.4% year-on-year in the three months to September of 2015, following an upwardly revised 7.1% expansion in the second quarter. Figures came better than market expectations of a 7.3% increase, boosted by financial, real estate and insurance activities and manufacturing."<div class="KonaFilter image-container display-table"><div><div class="image on-image">Trading Economics</div></div></div>It's hardly surprising because Modi's government, within two months of coming to power, eased foreign direct investment caps. Then in August 2014, the government launched a financial inclusion plan called "Pradhan Mantri Jan Dhan Yojana," which sought to make sure every home had access to a bank account. That's great news for the economy as more people are able to buy and sell things.A month after that, Modi's government then launched the "Make in India" initiative to get multinational and domestic companies to establish manufacturing bases into the country.<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Anuj Puri/Google PlusAnuj Puri, Chairman &amp; Country Head, JLL India, formerly Jones Lang LaSalle, spoke to Business Insider in Davos, Switzerland for the WEF meeting.</div></div></div>Most importantly, Modi's government tried to push through the uniformed Goods and Services Tax (GST) bill to deal with problems in the country's tax system, including indirect tax.Indirect tax is when the Indian government collects taxes from an intermediary such as a manufacturer or retailer. It's pretty complicated but the current government led by Modi is trying to get this changed and more streamlined by introducing a uniformed GST bill. There are 29 states in India and 29 different tax rates for businesses.But this is where Puri sees the issues in progress and what was symbolised by the dinner he attended in Davos last week.Basically, the current government is trying to push forward heaps of reforms that will get India more favourable for Western investors but they can eventually be blocked if the opposition doesn't like it."The current government still does not have a majority, so this means key reforms can still be blocked. For example, this government is trying to push through a more simple tax scheme that stops the retrospective tax regime like what happened with Vodafone but this was blocked. The government is also trying to put through the GST which hopes to unify tax which makes things easier for foreign businesses to do business in India," he said to Business Insider."I would say I think the trust is evolving but the trust is not complete." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/jim-cramer-come-back-jon-stewart-beatdown-show-up-motivational-speech-2016-1">Jim Cramer's inspiring words on how to come back from a beatdown</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="43czgxMDE6GqIsZB86yhV6ZIeE5-jMiE" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

A secret Swiss dinner with India's government and the opposition highlighted how fragile reforms are right now

The <keyword id="6354851" type="ORGANIZATION" weightage="20" keywordseo="Retail">retail</keyword> <keyword id="6354553" type="COMPANY" weightage="20" keywordseo="real-estate">real estate</keyword> market has a reason to cheer. This real estate segment is expected to receive <keyword id="34499" type="POSITION" weightage="20" keywordseo="private-equity">private equity</keyword> investments worth $70-$80 million in this year primarily because of the relaxation in government policies. 
	 
	“In 2016, PE may also go into select mall investments, especially in under-represented markets or for buyout of mature assets. JLL was the first to say that single-brand retail companies will find more reason to explore the Indian market thanks to relaxation of sourcing norms and that technology-led retail will start and in single brand retail store category in 2016. These companies will also be able to undertake eCommerce business independently,” said Anuj Puri, country head for JLL India. 
	 
	He added, “Moreover, as quality mall space is coming up with strong pre-commitments, it indicates that retailers continue to remain bullish about the long-term India consumption story. Retailers are already starting to experiment with the formats, sizes for the same brands – adapting to markets – as they start moving up the value chain.” 
	 
	However, not all will be hunky dory for the segment. Puri noted that the real estate space in retail will continue to lack quality. The retailers will have to revamp their real estate strategy in order to suit the micro-markets. “Investment by both home-grown and international brands will strengthen in tier-II and tier-III markets as they expand beyond tier-I cities. Investment by large players will also be seen in 2016,” he said. 
	 It should be noted that the <keyword id="44528" type="ORGANIZATION" weightage="20" keywordseo="FDI">FDI</keyword> inflow in retail trading went up between October 2014 and September 2015 to $70.75 million. Apart from this, strong economic stability, liberalisation of the FDI policy and improvement in the consumer sentiment, is expected to pump the investments in the real estate sector by global brands.

And here’s why real estate in retail can expect PE investments up to $80 million

Are you looking to buy the flat in that new project which is available at affordable prices? Or do you feel that your new home is much smaller than the one you previously checked out? Have you ever wondered how have these developers managed to make their new and upcoming projects ‘pocket friendly’ at a time when the input costs have been steadily rising? 
	 
	Well, while there are a plethora of factors that determine the prices of a property, there is one trend that has been growing rapidly in the Indian realty market—reducing the area of the apartment to keep it affordable. 
	 “Builders are exploring innovative ways to make residential housing across major cities more appealing to potential buyers at a time when it is increasingly becoming difficult to sell expensive <keyword id="47359" type="UNKNOWN" weightage="20" keywordseo="apartments">apartments</keyword>. Around the country, builders are emulating the famous sachet marketing strategy adopted by FMCG companies in the late 1990s,” said Anuj Puri, country head of JLL India. 
	 Puri added that developers have been resorting to this trick simply because the skyrocketing property prices have turned away <keyword id="6371902" type="UNKNOWN" weightage="20" keywordseo="home-buyers">home buyers</keyword> from the market. “Mumbai Metropolitan Region (MMR) – including Mumbai, Thane and Navi Mumbai – witnessed the maximum fall in apartment sizes on annualised basis, along with Bangalore, Chennai and Kolkata. Other cities also witnessed varying degree of fall in median apartment sizes,” he explained. 
	 
	Statistically, Mumbai that already has compact apartments saw a decrease of 26.4% in the past five years. It is followed by Bangalore, which recorded a 23.7% reduction in average apartment sizes followed by Chennai at 22.2% and Pune at 7%. Interestingly, Chennai continues to deliver the largest unit sizes today among tier-II cities and Bangalore in tier-I cities. 
	 
	“The dynamics of apartment sizes have a tale to tell – that developers are paying conscious attention to consumers’ requirements. The fall in average apartment sizes across all top seven cities is a clear indication that developers intend to make houses affordable for buyers by reducing average apartment size instead of reducing the capital values. While property prices are not purely a product of developer’s discretion, the decision to alter apartment sizes as per the needs and spending power of buyers is definitely within their ambit,” clarified Puri. 
	 
	Industry players have also attributed this rising trend to the change in the buyers’ behaviour.“Buyers are increasingly opting for homes that are closer to work-places in order to reduce commute times. As these locations are expensive compared to the suburbs, buyers may be able to afford smaller units, which is more than acceptable,” noted Puri. 
	 
	So the next time, you hear ‘affordable apartments, you know what you are getting into! 
	 
	Representational Image: diyhealth.com

Feeling suffocated in your new home? We tell you why!

New Delhi, Feb 1 () Real estate developers and property consultants expressed disappointment on the Budget for the next fiscal, saying it failed to address the huge liquidity concern of the sector and did not provide any major incentives to boost sluggish housing sales. 
"The direction of the budget is progressive, however there are no sector-specific measures for the realty sector," CREDAI National Chairman Jaxay Shah said.
 He welcomed the government's decisions to extend the tax benefit to boost demand and supply of affordable housing, but said the industry was eagerly waiting for the rental housing policy, one time roll over of developers' loan and the 45 lakh limit to be removed in affordable housing definition.
 NAREDCO President Niranjan Hiranandani said: "The liquidity issue which is a major challenge for the economy in general and real estate in particular, here too one does not see any major relief." 
Satish Magar, President, CREDAI National, said: "Budget 2020 has not been encouraging for the Indian real estate sector which needs immediate attention from the government. No sector specific measures were announced for real estate".
"As an industry we expected more bolder steps from the government to revive the ailing sector such as providing more liquidity for the sector, onetime restructuring of loans, and tax deductions on home loans to give impetus to buyer sentiment. Unfortunately none of these issues have been addressed, except providing tax holiday for one more year for to affordable housing developers and loan sanctioning- which was due for some time," he added. 
Anarock Chairman Anuj Puri said the Budget misses on the 'quick fixes' the real estate sector needs urgently and focuses more on a long-term vision. "Apart from the affordable housing push and personal tax relief, no major benefits came in for resolving the current housing mess."
Anshuman Magazine, Chairman &amp; CEO - India, South East Asia, Middle East &amp; Africa, CBRE said: "Continuing its commitment for further strengthening the national infrastructure till the last mile, Finance Minister today presented a progressive budget and touched upon every section of the economy."
Shishir Baijal, Chairman &amp; Managing Director, Knight Frank India, said that the Budget falls short of real estate sector's expectations.
"As far as the real estate sector is concerned, the industry was hoping that the Government would come up with measures to boost housing demand. However, the removal of exemptions under the new income tax regime, implying no tax benefit on principal and interest for home loans would be a dampener for the sector," he added.
Dhruv Agarwala, Group CEO, PropTiger and Housing.com, said: "In the 2020 budget the government has decided to help the common man by reducing the income tax burden on individuals. By doing this, the government will definitely help boost consumer sentiment which will give a big fillip to consumption." 
 Property consultant JLL India Country Head and CEO Anuj Puri said, "The Union Budget announcement today continues to focus on affordable housing and infrastructure, more specifically, urban infrastructure and logistics. However we do not see significant impact on the realty sector." MJH MJH MR
MR

Budget fails to address major concerns of realty sector, say developers

Mumbai, Feb 20 () Co-living, co-working and student housing, which are emerging segments in the Indian real estate sector, have the potential to generate rental yield of 7-11 per cent, according to a report by CII and Anarock. The report, titled 'Emerging Asset Classes: The Future Looks Promising', was released at the 2nd CII Real Estate Confluence here on Thursday. It delves into these highly promising new Indian real estate asset classes and explores their growth drivers as well as the underlying opportunities for investors and other real estate stakeholders. "Co-living, student housing and co-working have rental yields of anywhere between 7 per cent and 11 per cent -- a significant step-up from the 3 per cent national average rental yield of traditional housing formats," Anarock Chairman Anuj Puri said. Co-living, student housing and senior living are the next evolutionary step in the residential real estate domain, while co-working has evolved from traditional office real estate, he said. "The drivers behind this evolution are changing social dynamics, a highly enabled start-up environment, rising interest in higher education by migratory student population, and the need for quality housing solutions for senior citizens," Puri said. According to the report, top-6 co-living players currently have 1.18 lakh beds priced between Rs 6,000 and Rs 30,000 per month. As many as 13 prominent student housing brands now have 1.5 lakh beds across India. Senior housing growth is primarily in top cities' outskirts and tier-II and III cities like Bhiwadi (NCR), Neral (Mumbai), Talegaon (Pune), Devanahalli (Bengaluru), Mysuru and Coimbatore. "Co-living, student housing and senior living are fundamentally innovative and specialised residential assets, but with varied business models," Puri said. While co-working as a segment has flourished in India, there are interesting differences in how local and global players address it. Domestic co-working operators have restricted their presence to tier-I cities, while global players are also penetrating into tier-II and III cities. The report also highlighted that data centres, with potential of 10-14 per cent rental yield, is drawing high investor interest. The recent Budget's proposal to roll out a new policy for building data centre parks underscores the importance and relevance of this promising asset class. MJH HRS

Co-living, co-working, student housing can generate 7-11 pc rental yield: Report

IT firms and ITes emerged as biggest office space occupiers in 2015, with Tata Consultancy Services (<keyword id="6357150" type="CITY" weightage="20" keywordseo="TCS">TCS</keyword>) leading the pack. 
 TCS occupied largest office space occupier at 1.8 million sq ft in Mumbai, overtaking <keyword id="6358918" type="PERSON" weightage="20" keywordseo="Deloitte">Deloitte</keyword>. In 2014, Deloitte took office space of 1.3 million sq ft space in Hyderabad. 
 
Reportedly, IT firms and ITeS accounted for 56% of the demand for office space in 2015. 
 
"We continue to see strong demand from IT-ITes firms that continue to grow and are looking to sup offices closer to mass transport systems to reduce commuting time," Amit Grover, national director-office business at DLF, told ET. 
 
Apart from TCS, Accenture occupied 4 lakh sq ft in Hyderabad and 3.5 lakh sq ft office space in Chennai in 2015. 
 
"This year we will also see demand for build-to-suit properties, especially from the larger IT occupiers. While the absorption in 2015 is similar to 2011, it is distributed across new and old buildings; previously it was largely in newly completed buildings," Anuj Puri, chairman at JLL India, told ET.

TCS emerges as largest office space occupier in 2015

<ul><li>Karnataka state government is working on a proposal to ban construction activity in Bengaluru for next five years to deal with water crisis problem. </li><li>Bengaluru has emerged as a hotbed for real estate construction activity in recent years, with consumer demand reaching new levels, and home sales reaching 80% high as compared to 2017. </li><li>The proposal will lead to massive job crisis and inflation in real estate market and is also not sure of helping with <keyword id="68552" type="PERSON" weightage="20" keywordseo="water-scarcity">water scarcity</keyword> as there is no water storage facility. </li></ul>The state of Karnataka has come up with its own plan to fight the problem of water crisis. It is contemplating a ban on apartment construction in Bengaluru, for the next five years. The city was once known for its beautiful gardens, many lakes and ample groundwater resources. However, tech and BPO boom which brought in population and scramble for space, has pushed builders to take over lakes, fill them up and construction over them. Added to that, the government is <a href="https://www.livemint.com/news/india/no-construction-of-apartments-in-bengaluru-for-next-5-yrs-due-to-water-shortage-1561649591527.html">also worried </a>that new apartments might not have basic amenities like water. Unclear ban This move could place a spoke in the wheel for the real estate market in Bengaluru which has just started to recover. After being stranded with unsold homes for the last four years, the market has started showing signs of growth. In the first quarter of 2019, its homes sales went up by 80%, from 2017, according to <keyword id="4695692" type="PERSON" weightage="20" keywordseo="ANAROCK-Property-Consultants">ANAROCK Property Consultants</keyword>. Lack of clarity regarding the ban is also worrying investors and home buyers alike. The proposal does not specify if it will include new construction activity or will also be applicable to projects under construction projects as well. Eitherways, the effects will not bode well for the sector. “Builders sitting on ready inventory will immediately increase the property prices of these homes by at least 10-15%. This will keep inflating over the years of the ban. However, homebuyers with new ready properties whose prices remained stagnant over the last 2-3 years may have a reason to cheer this move, as finally the values of their property will rise,” says <keyword id="6420759" type="UNKNOWN" weightage="20" keywordseo="Anuj-Puri">Anuj Puri</keyword>, Chairman, ANAROCK Property Consultants. The step will be a big blow to the millions of labourers working in the city’s real estate market. Labour from various states like Uttar Pradesh, Bihar and West Bengal work in the city. “This will further contribute to ever increasing job crisis in the country,” Puri says.

Bengaluru’s water crisis might make it an expensive real estate market

According to JLL India, <keyword id="6354552" type="COMPANY" weightage="80" keywordseo="hyderabad">Hyderabad</keyword>, <keyword id="2094" type="COMPANY" weightage="80" keywordseo="Pune">Pune</keyword>, <keyword id="57321" type="PERSON" weightage="80" keywordseo="Navi-Mumbai">Navi Mumbai</keyword>, and Ahmedabad are among the 10 affordable <keyword id="6354516" type="ORGANIZATION" weightage="80" keywordseo="property">property</keyword> markets in the country where flats are available within the budget of Rs 30-50 lakh. 
 
The other six cities are Kochi (Kerala), Ghaziabad(Uttar Pradesh), Jaipur (Rajasthan), Nagpur (Maharashtra), Surat (Gujarat) and Coimbatore in Tamil Nadu. 
 In its latest report, property consultant JLL India has listed 10 cities that offer great lower-budget <keyword id="6354553" type="COMPANY" weightage="80" keywordseo="real-estate">real estate</keyword> investment prospects over medium to long term. 
 
"These towns and cities offer a wide spectrum of investable options in real estate with relatively lower property price levels, providing the incentives for future capital appreciation and healthy returns," JLL India Chairman and Country Head Anuj Puri said. 
 
On Hyderabad, Puri said it is perhaps one of the most it is perhaps one of the most affordable cities among all tier 1 cities of India. Even the well-developed residential localities in Hyderabad, such as Manikonda, Kukatpally, Miyapur and Sainikpuri offer housing properties in the budget range of Rs 30-50 lakh. 
 The report mentioned that Hyderabad's <keyword id="46631" type="UNKNOWN" weightage="80" keywordseo="Realty-market">realty market</keyword> is now set for an upswing after a prolonged slump due to the global recession followed by political turmoil. 
 
About Pune, JLL said the city has recorded good growth in the affordable housing segment over the last couple of years. Such projects are located on the periphery of the city and offer small 1-2 BHK flats with basic, no-frills amenities. 
 "While <keyword id="35507" type="UNKNOWN" weightage="80" keywordseo="property-prices">property prices</keyword> have increasingly become unaffordable in Mumbai, Navi Mumbai still provides numerous options for residential housing within the budget of Rs 30-50 lakh," Puri said. 
 
The proposed SEZs at Dronagiri, Ulwe and Kalamboli, and the upcoming international airport at Panvel are expected to help generate employment and boost demand for commercial and residential developments. 
 
On Ghaziabad, JLL said that the city is an emerging residential neighbourhood of NCR which has a very high supply of flats in the budget of Rs 30-50 lakh. 
 
"Well connected via metro and roads to the job markets of Delhi-NCR region, the city caters largely to the mid-segment home buyers. The city has a high supply of ready-to-move-in properties offered by renowned developers," the report sad. 
 
Infrastructural developments such as extension of the Metro Rail and widening of the NH 24 will further boost Ghaziabad's realty market, it added. 
 
On Kochi, JLL said: "Gone are the days when the city's builders focused only on affluent buyers. Today, the Kochi residential real estate market is dominated by affordable housing segment, which accounts to about 60 per cent of the total housing projects in the city." 
 
Image credit: Indiatimes

Pune, Hyderabad, Navi Mumbai and Ahmedabad among 10 affordable property markets in India

New Delhi, Jul 15 () Home-grown property consultant Anarock on Wednesday said it has partnered with the UK-based Mace to provide project management services to Indian real estate developers and infrastructure firms. The two companies have signed a pact to provide a new and integrated project management service to the Indian developers, helping to deliver real estate projects and vital infrastructure, Anarock said in a statement. The objective is to leverage on technology to improve safety and expedite construction timelines, it added. By using data analytics, modern methods of construction and digital tools, Mace-Anarock will focus on innovative project delivery to upskill the workforce and train people for future jobs. Anarock Chairman Anuj Puri said: "The Mace and Anarock collaboration will focus on the expert consultancy services for construction and project delivery across sectors including mixed-use office and retail developments, residential projects including student accommodation, and industrial and manufacturing plants." Indian real estate and construction sector need tech-driven, cost-optimized solutions in the post-COVID-19 revival phase. "We will be offering these solutions to real estate developers and government agencies focused on infrastructure deployment," Puri said. "In a time of prolonged uncertainty, our aim is to transform project delivery with an innovative approach to management and construction, helping our clients to accurately design, plan and deliver real estate assets," Davendra Dabasia, International Managing Director, Mace said. In India, Mace has helped deliver residential projects such as DLF's The Crest at Gurugram, and major mixed-use developments such as My Pad in Lucknow. It was also involved in Mumbai International Airport project. Mace is an international consultancy and construction company. It employs over 6,300 people across five global hubs, with a turnover of £2.35 billion. Anarock has offices in all major cities with an employee strength of 2,000. It clocked 36 per cent growth in its revenue at Rs 256 crore during the last fiscal despite demand slowdown in Indian real estate market. MJH RUJ RUJ

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