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<ul><li>Domestic institutions’ share in institutional investments in Jan-March inflows more than doubled to 45%.</li><li>Office sector continues to receive a lion’s share of investments – at $600 million.</li><li>Industrial &amp; warehousing segment saw inflows to the tune of $200 million </li></ul>Even as Indians’ love for buying homes refuses to die down, institutions seem to have a contra view of the real estate sector. In the Jan-March quarter, institutions poured $1 billion into the sector — which is a 40% drop as compared to the same quarter last year, says a report by <keyword id="20136265" type="General" weightage="20" keywordseo="colliers" source="keywords">Colliers</keyword>. Domestic institutions have been at the forefront, and made up for 45% of the total inflows in the recently concluded March quarter. Their share more than doubled in the last year as it was at 24% in Jan-March 2023. “Domestic investors are increasingly gaining more ground in <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>n real estate. Within domestic institutional investments, office and residential assets formed about 66%, reflecting a strategic approach to align with India's growth trends. This also underscores growing confidence of a diversified spectrum of investors across multiple investment strategies including credit and acquisitions,” said <keyword id="20489383" type="General" weightage="20" keywordseo="piyush-gupta" source="keywords">Piyush Gupta</keyword>, managing director, capital markets &amp; investment services at <keyword id="19955462" type="General" weightage="20" keywordseo="colliers-india" source="keywords">Colliers India</keyword>. Institutional inflows into real estate sector <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asset class </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jan-March 2024 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jan-March 2023 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">YoY change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Office </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$563 mn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$907.6 mn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-38% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Residential </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$102.6 mn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$361 mn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-72% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Alternate assets </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$21 mn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$158 mn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-87% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Industrial &amp; Warehousing </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$177.7 mn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$216 mn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-18% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mixed use </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$130.8 mn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$15 mn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">766% </td></tr></tbody></table>Source: Colliers Tech-cities rule office investments Office sector continues to receive a lion’s share of investments – at $600 million. Within this segment, two cities — Bengaluru and <keyword id="19900176" type="General" weightage="20" keywordseo="hyderabad" source="keywords">Hyderabad</keyword> lead investments, with an 81% of share. This trend mirrors robust office demand seen in these cities this quarter. These cities have been frontrunners for demand for Grade A office space in the quarter and saw more than half of the India leasing activity. Overall office demand across the top six cities also remained robust, at 13.6 million sq ft, marking a remarkable 35% increase compared to the same period last year. “Foreign investments remained predominant, driving over two-thirds of the sector's inflows, reinforcing the confidence of global funds in the fundamentals of commercial office real estate in India. Institutional investors continued their preference for completed and pre-leased income-yielding office assets as compared to greenfield developments,” says Colliers. Industrial &amp; warehousing as well as residential segments also drew inflows to the tune of $200 million and $100 million respectively. Investments in Industrial and warehousing assets were concentrated around Pune, Chennai, and Delhi-NCR. “As the industrial and warehousing segment evolves, and micro-fulfillment centers, dark stores and AI-driven supply chains become more prevalent, consolidation and institutionalization will pick up pace, further driving global capital in the coming years,” says Colliers. In the March quarter, the APAC region contributed to over 82% of foreign inflows in India's real estate sector. “The surge in investments by APAC countries such as Singapore can be attributed to a combination of factors including favourable investment climate, strong demand fundamentals across core &amp; non-core segments within real estate, and strategic alliances in the form joint venture platforms,” said <keyword id="20454099" type="General" weightage="20" keywordseo="vimal-nadar" source="keywords">Vimal Nadar</keyword>, senior director and head of research, Colliers India.

Institutions shy away from real estate investments which dip by 40% in Q4 of FY24

<ul><li><keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>’s top IT sector companies have reduced their headcount by 75,000 in the last one year.</li><li>New GCCs setting-up operations in India might have hired a similar number of <keyword id="19913553" type="General" weightage="20" keywordseo="tech" source="keywords">tech</keyword> talent, say experts.</li><li>Even with renewed hiring, IT sector hiring as a whole suffered even as software product company hiring went down in the last 12 months.</li><li>In 2024, hiring intent in the IT sector increased only 3%, even as overall hiring intent is at 19%, says Taggd. </li></ul>Headcount in the top IT services firms in India is down by 75,000 in the last one year. However, experts say that there is no large-scale furore over joblessness in the system due to the extensive hiring undertaken by global capability centers (GCCs). Many new GCCs are setting-up shop in India, which is giving a much-needed push to sluggish tech talent intake by IT services companies. Six out of eight IT bellwethers like TCS, Infosys, Wipro, LTI Mindtree, Cognizant and Tech Mahindra saw their headcount go down in the last 12 months, as per Xpheno, a staffing services company. HCL and LTTS however moderately added 2,400 and 1,600 people to their rolls. (See Table below). Top 8 IT cos headcount &amp; net additions as of Q3 FY24 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Headcount </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12-month net additions </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,40,234 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-21,875 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,22,663 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-24,182 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6,03,305 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-10,669 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,24,756 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,486 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LTI Mindtree </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">82,471 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3,991 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LTTS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,46,250 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-10,812 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cognizant </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,47,700 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7,600 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19,90,677 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-75,000 </td></tr></tbody></table> Source: Xpheno With this degrowth, collective headcount of the cohort has dropped to nearly the levels seen in early 2022. “The calendar year of 2024 too has begun with a rollback of headcounts to a pre-two year level, in what is clearly a cycle of sustained adversities the IT services cohort is dealing with,” said Kamal <keyword id="20519296" type="General" weightage="20" keywordseo="karanth" source="keywords">Karanth</keyword>, co-founder of Xpheno. GCCs: The bright spot It’s not just IT services companies are cutting down hiring, job demand in software companies saw massive drop along with startups. But there is one bright spot in the tech market which is GCCs. “GCCs had recruited similar numbers (around 60,000) in the last one year, and that’s why we do not see a bloodbath on the streets. Around 100-110 GCCs set-up shop in India in the last two years, and 60 of them came in the last one year itself,” Karanth tells Business Insider India. GCCs are international companies which set-up shop in India, which takes care of activities like business support functions, back-office tasks, IT infrastructure and more. Since they kick-off operations, most of them hire anywhere between 500-2,000 people. GCCs have now become one of the six top sectors which hire tech talent that includes IT services companies, software product companies, startups, consulting firms and non-tech sectors which hire tech talent. GCCs, IT services and software product companies are the three sectors which hire techies in large numbers “Among the three, only GCCs will continue to hire in 2024, while IT services and software product companies will see at least two muted quarters ahead,” says Karanth. Going by their enthusiastic uptake of office spaces, they seem to be intent on hiring in large numbers. As per a Colliers report, office space uptake of around 30 mn square feet with large deals (of over 100,000 sq ft) have shown an impressive 24% annual growth in 2023. Almost 40% of the large deals in the top six cities have come from GCCs, particularly from technology and BFSI sectors. “More than half of the large GCC deals achieved closure in the last quarter of 2023, indicating renewed momentum in GCC activity in the country. Large pool of talent, cost-effective rentals, adequate Grade A developments and favorable office market ecosystem will continue to uphold India’s vantage positioning from a capability centre perspective,” said <keyword id="20454099" type="General" weightage="20" keywordseo="vimal-nadar" source="keywords">Vimal Nadar</keyword>, senior director and head of research, Colliers India. Tech hiring to remain sluggish With only one of its sub-sectors keen on hiring, the IT sector’s recruitment outlook as a whole has come down. As per a report by Taggd, the IT sector’s hiring intent for 2024 increased by 3%. The overall hiring intent across all the sectors however increased 19% for the current calendar year. Job demand in the last 2 years <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sector </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jan 2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jan 2023 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jan 2024 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2-year change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IT services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,29,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">65,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-35% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Software Product </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,00,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">32,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-61% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Startups </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">44,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-73% </td></tr></tbody></table>Source: Xpheno The slowdown in IT hiring is pronounced in the earnings reports of recruitment firms as well. Info Edge which houses many internet-related businesses like <keyword id="20577913" type="General" weightage="20" keywordseo="naukri" source="keywords">Naukri</keyword>, 99acres.com etc saw its revenues from the recruitment grow only by 3.1% year-on-year in Q3 FY24 due to sluggishness in IT sector hiring. “While the non-IT hiring sector remained robust, the continued slowdown in IT hiring impacted Naukri's growth,” Hitesh Oberoi, managing director and CEO of Info Edge said in the press release. Most large IT sector companies are only expected to do replacement hiring for the next few quarters, with a dull outlook for most. The sector’s sluggish hiring will impact engineering graduates the most as fresher hiring will be impacted. “As many as 9 lakh engineering graduates pass out every year. They will see a major impact and see the biggest hit,” Karanth adds.

IT bellwethers slash headcount in FY24 but Indian techies find a home with GCCs

Realtors' apex body <keyword id="6393312" type="General" weightage="80" keywordseo="credai" source="Orion">Credai</keyword> on Thursday requested the <keyword id="30067" type="General" weightage="100" keywordseo="rbi" source="Orion">RBI</keyword> not to increase the repo rate in the upcoming monetary policy as this would raise the borrowing cost of builders and customers, impacting housing sales. With retail inflation remaining above the comfort level of 6 per cent and most global peers, including the <keyword id="117388" type="General" weightage="50" keywordseo="us-fed" source="Orion">US Fed</keyword>, continuing their hawkish stance, industry experts feel the Reserve Bank of India may go in for a 25 basis points hike in the bi-monthly monetary policy to be announced on April 6. Confederation of Real Estate Developers' Association of India (Credai), having more than 13,000 developers as members, has "urged the RBI to not to increase the repo rate any further, citing the financial challenges faced by developers and the potential impact on housing sales due to the consequential rise in prices and home loan rates". In the last one year, the body said, the repo rate has increased from 4 to 6.5 per cent and another hike would lead to even higher borrowing costs for developers. Credai National President Harsh Vardhan Patodia said, "In the last 1 year, the cost of construction has risen rapidly due to the gradual increase in repo rates by the RBI, which has adversely impacted many developers as they struggle to cope financially. Another repo rate hike would not only make certain projects financially unfeasible, but it would also deter homebuyers as home loan rates will be at an all-time high". The association said housing prices rose by 5-6 per cent in the last one year and any hike in the repo rate would lead to even higher project costs and housing prices. It argued that the profit margins of builders would reduce. Interest rates on home loans would touch almost double-digit home loan rates, deterring customers from purchasing properties, especially in tier 1 cities, Credai said. "This could lead to a slowdown in the real estate market and result in homebuyers postponing their purchase plans, reversing a trend in the post-CODVID era wherein homebuying was on the rise," it cautioned. Property consultants and developers also feel that sales could be hit in case of a further rise in mortgage rates. Housing.com CEO Dhruv <keyword id="274894" type="General" weightage="80" keywordseo="agarwala" source="Orion">Agarwala</keyword> said the RBI would probably stick to a moderate increase in its benchmark lending rate in the upcoming policy announcement, before hitting a pause button on hikes later in 2023. "The move is likely to have limited impact on real estate demand as home purchase decisions are driven and determined by several factors other than just home loan rates. That said, borrowers would feel the pinch of this increase in rates as home loan EMIs for existing and new loans would go up," Agarwala added. Realty firm Signature Global Chairman Pradeep Aggarwal said any further increase in policy rates could push the home loan interest rate beyond the psychological barrier of 10 per cent, "which could have a substantial impact on buyer sentiments and affordability". <keyword id="12503468" type="General" weightage="50" keywordseo="vimal-nadar" source="Orion">Vimal Nadar</keyword>, Head of Research at Colliers India, said home loan interest rates are already at an alarmingly higher level of 9.5 per cent and above. "With homebuyers already stretched on EMIs and loan tenures, a further hike in interest rate will hit them hard. The impact will be compounded in the current environment where the industry expects a lesser increase in income levels with housing prices remaining firm," Nadar said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/small-stocks-lag-behind-in-fy23-take-bigger-hit-than-bluechip-firms/articleshow/99117250.cms">Small stocks lag behind in FY23; take bigger hit than bluechip firms</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/tamil-nadu-says-nahi-to-dahi-over-hindi-name-on-curd-packets/articleshow/99116854.cms">Tamil Nadu says 'nahi to dahi' over Hindi name on curd packets</a>

Repo rate hike will slow down real estate, reverse post-Covid trends, says industry body to RBI

<ul><li>Investment inflows in the <keyword id="6543013" type="General" weightage="20" keywordseo="real-estate-sector" source="Orion">real estate sector</keyword> have registered a year-on-year growth of 18% during January-September this year. </li><li>The office sector accounted for 50% of the overall investment in the <keyword id="6354553" type="General" weightage="20" keywordseo="Real-estate" source="Orion">real estate</keyword> industry, followed by retail. </li><li>During January-September 2022, Delhi-NCR saw the highest share of inflows at 21%, followed by Mumbai and Bengaluru.</li></ul>Investment into the real estate sector grew by 18% in the January-September period as compared to last year, says a report by <keyword id="813133" type="General" weightage="100" keywordseo="colliers" source="Orion">Colliers</keyword>, a Canadian investment management company. The inflows touched $3.6 billion in 2022 year to date, as per the report. “The capital in Indian real estate is getting more broad-based with active participation also from domestic institutional and retail Investors. Domestic capital is seen to flow across asset acquisitions, with credit in multiple asset classes with varied pooled structures,” said Piyush Gupta, managing director, capital markets and investment services, Colliers India. The office sector accounted for 50% of the overall investment in the real estate industry, followed by the retail sector which saw some large deals. “While investors remain committed to the Indian market, the hovering global recessionary concerns can lead to some delay in fund deployment,” the report said. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asset Class </td><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investments YTD 2021 (in $ mn) </td><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investments YTD 2022 (in $ mn) </td><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% Change </td></tr><tr><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Office </td><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,178.5 </td><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,802.7 </td><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">53% </td></tr><tr><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">77.2 </td><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">491.8 </td><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">537% </td></tr><tr><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Alternatives </td><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">415.3 </td><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">398.8 </td><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4% </td></tr><tr><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mixed-use </td><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- </td><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">408.9 </td><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- </td></tr><tr><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Industrial &amp; Logistics </td><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">895.6 </td><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">199.8 </td><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-78% </td></tr><tr><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Residential </td><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">472.9 </td><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">276.5 </td><td style="border-left:solid #bfbfbf 0.99609pt;border-right:solid #bfbfbf 0.99609pt;border-bottom:solid #bfbfbf 0.99609pt;border-top:solid #bfbfbf 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-42% </td></tr></tbody></table>Source: Colliers <cmsannotation type="cmsannotation" annotationid="Metro cities saw the maximum surge" comment="subhead" text="Metro cities saw the maximum surge">Metro cities saw the maximum surge</cmsannotation> During January-September 2022, Delhi-NCR saw the highest share of inflows at 21%, followed by Mumbai and Bengaluru. Multi-city deals continue to be on the rise, with a 45% share in investments during YTD 2022. “Over the next few quarters, while there may be some slowdown in deployment of funds due to the recession, we believe that the Indian market is relatively well-insulated and investors continue to view it favourably,” <keyword id="12503468" type="General" weightage="50" keywordseo="vimal-nadar" source="Orion">Vimal Nadar</keyword>, senior director and head of research, Colliers India. Domestic investors have become more active in the market, with their investment inflows accounting for 18% share, compared to 14% share during the same period last year. Global investors continue to dominate funding activity with higher participation in entity-led deals, says the report. Foreign investors continue to remain bullish on India’s real estate sector. During 2017-2021, foreign capital flows into real estate jumped three times to $24 billion, compared to the preceding five-year period. Real Estate Investment Trusts (REITs) introduced in the year 2019, too have become an attractive alternate financial platform to raise funds for investors. Regulatory reforms undertaken by the government in the last few years – such as implementation of Real Estate Regulatory Authority (RERA) and GST too gave a fillip to foreign investments, the report says. “As developers and investors venture into new geographies and asset classes, there is an increased demand for investigations into a real estate project across facets. Understanding associated risks and potential upsides of any prospective project has become pivotal to all stakeholders,” says Colliers. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/it-cos-go-slow-on-hiring-despite-high-attrition-rates-hiring-down-57-in-q2/articleshow/94832706.cms">IT cos go slow on hiring despite high attrition rates, hiring down 57% in Q2</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/yeida-cancels-allotment-of-14-group-housing-projects-due-to-non-payment-of-dues/articleshow/94832924.cms">YEIDA cancels allotment of 14 group housing projects due to non-payment of dues</a>

Investments in real estate touched $3.6 billion in Jan-Sep period: Colliers

Earlier today, RBIs MPC (Monetary Policy Committee) decided to leave the <keyword id="20094323" type="General" weightage="100" keywordseo="repo-rate" source="keywords">repo rate</keyword> unchanged at 6.5%, while changing the policy stance toward neutral. The aim, as <keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords" meta.keywordsubtype="org" meta.entityname="RBI" meta.hostid="261" meta.entityid="RBI">RBI</keyword> maintained, was to strike a balance between taming domestic <keyword id="19895000" type="General" weightage="20" keywordseo="inflation" source="keywords">inflation</keyword> and maintaining target growth. A neutral stance gives the RBI the flexibility to adjust <keyword id="19950650" type="General" weightage="20" keywordseo="interest-rates" source="keywords">interest rates</keyword> based on the direction of inflation, as opposed to its previous stand of withdrawing accommodation, which eliminates any possibility of rate cuts. While a change of stance doesn’t necessarily mean a cut should follow, most experts view this as a prelude to a possible rate cut in December this year, or even February next year. Says Deepak Ramaraju, Senior Fund Manager, Shriram AMC, "The RBI stance has changed to neutral, indicating that its primary focus is to balance growth and inflation. Growth has been resilient and given the short-term pressure on inflation, RBI may continue to hold interest rates unchanged in Q3 FY 2025. Based on inflation moderating below 4.5% and course of geo-political concerns, the RBI may undertake a rate cut decision in Q4 FY 2025". So, what does this mean for your investments? How will this decision impact your existing funds? We take a look. <h2>Good time to invest in high-yield deposits</h2>This is a good time to invest in high-yield <keyword id="19975805" type="General" weightage="20" keywordseo="fixed-deposits" source="keywords">fixed deposits</keyword> and long-term bonds. That's because with rate cuts imminent in the upcoming quarters, you'd be able to lock-in your funds with the prevailing, relatively higher interest rate right now. As for the yellow metal or gold, it is generally considered a safe haven asset during turbulent market times. That's why you should consider making it a part of your investments, or increasing its weightage in your overall portfolio, depending on your needs. Vijay Kuppa, CEO, InCred Money highlights that with deposit rates at elevated levels, one has an ideal opportunity for locking in high-yield fixed deposits."At the same time, high borrowing costs also make a compelling case for increasing debt allocations in investment portfolios, which offer a buffer against potential equity market corrections, which might occur due to <keyword id="19955176" type="General" weightage="20" keywordseo="geopolitical-tensions" source="keywords">geopolitical tensions</keyword>", he continues. With the chronic crisis in Middle-East flaring up again, as Israel looks to target Lebanon and Iran, you can expect some volatility and downturns in the <keyword id="19949641" type="General" weightage="20" keywordseo="equity-markets" source="keywords">equity markets</keyword>, both in India and globally, in the times to come. Over the last 5 days, Sensex has dipped by over 1,900 points, or about 2.38%, and Nifty has also gone down by 2.23%. With this set to continue for some time, you can reconsider and evaluate your investments in debt. Mahendra Kumar Jajoo, CIO – Fixed Income, Mirae Asset Investment Managers (India) explains that the market is confident of a rate cut in the times to come, and that the <keyword id="20066775" type="General" weightage="20" keywordseo="bond-market" source="keywords">bond market</keyword> has already started pricing in the same. "We have already seen some of this already, with 10Y GOI yields at around 6.75%, having already eased significantly in last few months. So, if investors wait for rate cut to invest, it may be too late for them. Also, with corporate credit picking up, investing in corporate bond funds for a period of 3-5 years can also serve the investor well. Investors having a long term investment horizon and appropriate risk appetite can also invest in gilt funds", he continues. <h2>Dont exit the markets yet </h2>Though short-term biases of FII may continue towards Chinese markets keeping pressure on the equity markets, the resilient domestic flows can defy deep corrections in the equity markets despite high valuations. The markets may trend positive with subsequent rate cuts by the US Fed later this year. Hence, it wont be advisable to completely exit the equity markets during these times, notes Avnish Jain, Head - Fixed Income, Canara Robeco Mutual Fund Jain advises to take a buy on dips approach towards the stock markets i.e. adding quality stocks to your portfolio during times of market downturn. Shrikant Chouhan, Head Equity Research, Kotak Securities says that the current market texture is volatile, hence level based trading would be the ideal strategy for the day traders. "For the bulls now, 25,050/81,700 would be the key level to watch out. Above the same market could retest the level of 25,200-25,225/82,000-82,300. On the flip side, 24,900/81,200 would be the key support zone for the traders. Below the same, the selling pressure is likely to accelerate. Below the same, market could slip till 24,800-24,780/81,000-80,700", explains Chouhan. <h2>Time to buy a home? Maybe! </h2>No rate cut can spell some good news for homebuyers who are looking to get their hands on real estate during the festive season. Even as home loan rates remain steady as of now, homebuyers may have to wait until December or beyond to get any tangible relief in their home loan EMIs. Vimal Nadar, Head of Research, Colliers India explains that a change in stance from “withdrawal of accommodation” to “neutral” indicates its clear direction for a possible reduction in interest rates in the foreseeable future. This ongoing stability in repo rate should provide a significant thrust to residential real estate during these festive months as home loan interest rates are likely to remain steady. "Typically, Q4, marked by higher inclination of homebuyers to wrap-up property purchases during the auspicious period combined with instantaneous liquidity benefit aided by developers offering attractive discounts, has historically provided the final push to housing sales across the major markets in the country", he added.

RBI leaves repo rate unchanged. What does this mean for you?

The demand for office spaces during the first quarter of 2024 has been strong, registering total leasing of 13.6 million square feet across the top six cities. It is a remarkable 35 per cent increase compared to the same period last year, according to professional services and investment management company Colliers. Although this is a significant drop from the record office space take-up in the last quarter of 2023, the remarkable annual increase is indicative of upbeat occupier sentiment, given the fact that the first quarter is typically slower, Colliers said in a report. Bengaluru and <keyword id="19900176" type="General" weightage="20" keywordseo="hyderabad" source="keywords">Hyderabad</keyword> emerged as frontrunners for demand of Grade A office space in the first quarter of 2024, cumulatively accounting for more than half of the <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> leasing activity. The office market of Hyderabad saw 2.2x space uptake in Q1 2024 as compared to the corresponding quarter last year. This demand was driven by healthcare and pharma and technology sectors. Amongst other major office markets, Mumbai too experienced a notable surge in leasing activity, an impressive 90 per cent yearly rise in Q1 2024. "Hyderabad continues to strengthen its role as a prominent commercial office market in the country. The city offers occupiers including <keyword id="20942407" type="General" weightage="20" keywordseo="global-capability-centers" source="keywords">Global Capability Centers</keyword> considerable price arbitrage compared to other markets. Furthermore, proactive government policies, continuous infrastructure upgrades and a favorable business ecosystem makes Hyderabad a compelling destination for investors, occupiers, and leading developers of commercial real estate in India," said Arpit Mehrotra, Managing Director, <keyword id="21062240" type="General" weightage="20" keywordseo="office-services" source="keywords">Office services</keyword>, India, Colliers. "Within Hyderabad, the trifecta of Hi-Tec City, Gachibowli and <keyword id="19948349" type="General" weightage="20" keywordseo="madhapur" source="keywords">Madhapur</keyword> continued to drive leasing activity in Q1 2024. Of the 2.9 million square feet of Grade A space uptake in the first quarter, over 80 per cent of the demand was concentrated in these three localities," said Mehrotra. During Q1 2024, new supply across top six cities remained steady, at 9.8 million square feet, almost at par with the level seen in Q1 2023. According to Colliers, Bengaluru witnessed significant new project completions, contributing to 45 per cent of the total new supply, followed by Hyderabad at 27 per cent share. With demand outpacing supply, average rentals saw up to 8 per cent uptick on a yearly basis across most of the major markets. "As business sentiments and economic outlook remains positive, domestic occupiers, especially will continue to drive the office market of the country," said Vimal Nadar, Senior Director and Head of Research, Colliers India. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/oneplus-12-review/articleshow/108723955.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-12-review/articleshow/108723955.cms" target="_blank">OnePlus 12 review: A feature-packed device with promising battery back-up</a><a href="https://www.businessinsider.in/business/auto/news/jsw-group-and-saic-motors-jv-jsw-mg-motor-india-set-to-up-production-to-3-lakh-vehicles-a-year-with-a-new-car-every-3-6-months/articleshow/108647799.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/jsw-group-and-saic-motors-jv-jsw-mg-motor-india-set-to-up-production-to-3-lakh-vehicles-a-year-with-a-new-car-every-3-6-months/articleshow/108647799.cms" target="_blank">JSW Group and SAIC Motor’s JV ‘JSW MG Motor India’ set to up production to 3 lakh vehicles a year with a new car every 3-6 months</a><a href="https://www.businessinsider.in/tech/news/asus-rog-strix-scar-16-review/articleshow/108514221.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/asus-rog-strix-scar-16-review/articleshow/108514221.cms" target="_blank">Asus ROG Strix Scar 16 review – powerful gaming laptop with a cool design</a>

Office space leasing in India off to a strong start in Q1-2024

<ul><li>Opt for sustainable projects which offer discounts on the <keyword id="6397939" type="General" weightage="20" keywordseo="interest" source="Orion">interest</keyword> rate. </li><li>A woman co-borrower as the primary applicant can lead to savings on interest rate as well. </li><li>A <keyword id="6354730" type="General" weightage="20" keywordseo="home-loan" source="Orion">home loan</keyword> overdraft scheme can also lead to savings on interest payments. </li></ul>Buying a home is one of the biggest financial goals one has and since a home loan is a commitment for several years, a lower interest rate could lead to substantial savings. In other words, a difference of a few basis points can lead to savings of a few thousand every month. We look at some ways to reduce your home loan interest. <cmsannotation type="cmsannotation" annotationid="Sustainable project option" comment="Subhead" text="Sustainable project option">Sustainable project option</cmsannotation> Recently, Axis Bank tied up with real estate developer Mahindra Lifespaces to offer a 0.25% discount on the interest on green homes. In June this year, SBI announced that it has plans to incentivise green home buyers by offering them a 10-25 basis points discount on prevailing home loan rates. “Extending loans at concessional rates for green homes incentivizes home loan takers to buy and invest in sustainable residential buildings. It will have a long term and a positive domino effect to build, buy and sell environment-friendly buildings,” says Vimal Nadar, senior director, research head, Colliers India. Green housing in India faces affordability and awareness challenges, especially in affordable and mid-range segments. Collaborations between housing finance and real estate firms can boost green home popularity among Indian buyers. “Such a tie-up resulting in discounted interest rates for green homes could potentially kick-start a broader trend - especially if the interest rates are reduced enough to offset the 10-15% premium that green homes typically command to a significant extent,” says Santhosh Kumar, vice chairman, ANAROCK Group. This can attract more middle class customers to eco-friendly projects. <cmsannotation type="cmsannotation" annotationid="Women borrowers are offered lower interest rates" comment="Subhead" text="Women borrowers are offered lower interest rates">Women borrowers are offered lower interest rates</cmsannotation> Most banks offer a concessional rate to women borrowers. The usual discount provided is 5bps or 0.05%. If a woman with a good credit score is the primary borrower, it can mean a discount in the interest rate. <cmsannotation type="cmsannotation" annotationid="Subhead" text="Consider a home loan overdraft scheme">Consider a home loan overdraft scheme</cmsannotation> The home loan overdraft scheme works pretty much current accounts with an overdraft limit. “Under the scheme, you can deposit any surplus that you have into your home loan account. This surplus will be considered as prepayment against the <keyword id="25058" type="General" weightage="20" keywordseo="principal" source="Orion">principal</keyword>,” says Adhil Shetty, CEO, BankBazaar, a financial marketplace. The principal amount on which the loan interest is calculated is the outstanding principal minus the savings deposited in the home loan account over and above the monthly instalment or EMI. If you have been making regular deposits to the account, your outstanding principal would proportionally reduce. This brings down the overall loan liability. A benefit of the home loan overdraft scheme is the savings on interest. “If you keep making regular repayments, your principal, and therefore the interest you pay on it, keep reducing. This translates into substantial cost savings,” says Shetty. However, it is important to remember that the home loan overdraft scheme is typically suitable for double income families with regular surplus income or businesspersons who receive surplus funds regularly. Also Shetty says that home loan overdrafts usually tend to be more expensive by approximately 25 basis points. Therefore, if you do not have a chance to generate a regular surplus amount, the home loan overdrafts may not be the right choice. <cmsannotation type="cmsannotation" annotationid="Refinance your home loan" comment="Subhead" text="Refinance your home loan"><keyword id="59525" type="General" weightage="20" keywordseo="refinance" source="Orion">Refinance</keyword> your home loan</cmsannotation> In March 2020, the difference between the lowest home loan rates and the prevalent repo rate was 2.75, going up to 3.50 in many cases. This difference has fallen steadily. By March 2021, it had reduced to 2.65. A year later, it fell to 2.40. “If you have an ongoing loan, you may want to consider refinancing your loan. This is because the spread on the loan has fallen,” says Shetty. Currently, there are many lenders pricing themselves at 2.00 over the repo, with a few going as low as 1.95 with their special offers. So refinancing your loan may help you bring down the interest rate. So, while taking a new home loan or if you already have an existing home loan, there are ways you can look to save on interest.

Four ways to reduce interest rate on your home loan

<ul><li>The demand for office space is likely to be up by 52% in 2022 as compared to 2021. </li><li>In fact, the demand for office space in Bengaluru, Delhi-NCR and Chennai in 2022 has already surpassed 2019 levels. </li><li>As per the report, flex operators are likely to lease 7 million square feet by the end of 2022, touching the highest ever in the country, after 2019.</li></ul>With most companies adopting work-from-home during the Covid-19 pandemic, the demand for commercial office spaces slowed down in the last two years. However, with more and more offices adopting a hybrid work mode and asking employees to return to office the demand for office spaces went up in 2022. It is now likely to touch 50 million sq.ft., according to a report by <keyword id="813133" type="General" weightage="100" keywordseo="colliers" source="Orion">Colliers</keyword>, a professional services and investment management company. This demand is also likely to be up by 52% this year as compared to the previous year. “Occupiers have been optimistic about their future workplace needs, after a gap of two years, and were snapping up office space across the top Indian cities,” the report says. <cmsannotation type="cmsannotation" annotationid="Flex space sees an upward trend" comment="subhead" text="Flex space sees an upward trend">Flex space sees an upward trend</cmsannotation> The report projects that flex operators are likely to lease 7 million sq. feet by the end of 2022, touching the highest ever in the country, after 2019. “This represents a 2-fold increase from 2021 as flex space has seen immense demand from medium and large enterprises this year. Occupiers approaching their lease expiry are exploring flex spaces as their relocation option, for the flexibility it offers them,” the report said. According to Vimal Nadar, senior director and head of research, Colliers <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>, new supply of the flex space is expected to increase by about 25%-30% on a year-on-year (YoY) basis during 2022, at about 44 million sq.ft. However, in 2023, developers are likely to step ahead with caution. “Developers are likely to align new supply with the demand momentum. This will ensure the market equilibrium is not disturbed and vacancy levels remain range bound,” Nadar said. <cmsannotation type="cmsannotation" annotationid="Demand for office spaces already surpassing 2019 levels" comment="subhead" text="Demand for office spaces already surpassing 2019 levels">Demand for office spaces already surpassing 2019 levels</cmsannotation> As per the report, Bengaluru will account for at least 33% of the gross absorption of the office spaces. This is likely to be followed by Delhi-NCR and Hyderabad among other cities in India. “The year 2022 is likely to be a landmark year in commercial office <keyword id="6354553" type="General" weightage="20" keywordseo="Real-estate" source="Orion">real estate</keyword>. Collaborating, brainstorming and creating a dynamic culture are the three pillars of any workplace post-pandemic,” said Ramesh <keyword id="6357049" type="General" weightage="80" keywordseo="nair" source="Orion">Nair</keyword>, CEO, India and managing director, Market Development, Asia, Colliers. Nair further said that slow decision-making could result in leasing activity of about 35-38 million sq. feet next year. In 2023, Bengaluru followed by Hyderabad are expected to see most of the new supply across the top six cities. The demand for office spaces in 2022 has already surpassed 2019 levels in Bengaluru, Delhi-NCR and Chennai. Pune is also expected to witness a similar traction by the end of this year, according to the report. “We see a slight dent in enquiries and demand in the near term amidst global economic headwinds. Provided the demand remains stable and consistent in the first half of 2023, rentals are likely to pick up from the second half of the year,” Nair added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/15-of-indian-households-have-had-severe-allergic-reaction-due-to-cosmetic-products-localcircles/articleshow/96370524.cms">15% of Indian households have had severe allergic reaction due to cosmetic products: LocalCircles</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/jobs-market-outlook-2023-specialised-it-telecom-and-service-oriented-sectors-to-drive-hiring/articleshow/96368438.cms">Jobs market outlook 2023: Specialised IT, telecom and service-oriented sectors to drive hiring</a>

Flex leasing to reach 7 million sq ft by end of 2022 on rising demand for office space, says Colliers

<ul><li>In India, investment in the office sector accounted for almost half of the total investments in the real estate sector. </li><li>The report predicts that the office leasing activity could remain muted in the fourth quarter. </li><li>A similar trend was seen in the residential sector and warehousing/logistics segments which witnessed a buoyant demand and a steady rise in absorption rates.</li></ul>Despite losing some momentum due to rising interest rates and high inflation, the Indian <keyword id="35288" type="General" weightage="20" keywordseo="real-estate-market" source="Orion">real estate market</keyword> has performed well in the third quarter, said a report by Colliers. For the nine month period between January-September 2022, investments in Indian real estate touched $3.6 billion, registering a hike of 18% y-o-y. “The capital inflows in Indian real estate continue to flow in, as long term sustainable growth story remains intact. Further, trend in residential sales is reflective of positive long term structural change in the sector. Investments in India are getting more broad based with increased participation from <keyword id="421656" type="General" weightage="20" keywordseo="domestic-investors" source="Orion">domestic investors</keyword>,” said Piyush Gupta, managing director, <keyword id="4235402" type="General" weightage="50" keywordseo="capital-markets-and-investment-services" source="Orion">Capital Markets and Investment Services</keyword>, <keyword id="3166898" type="General" weightage="80" keywordseo="colliers-india" source="Orion">Colliers India</keyword>. Gupta also said that newer avenues are evolving like fractional ownership, <keyword id="1064455" type="General" weightage="20" keywordseo="alternate-investment-funds" source="Orion">alternate investment funds</keyword> (AIFs), and pooled investment structures are providing depth to both investors and developers. As per the report, domestic investors accounted for about 18% of the investments between January-September 2022, rising from 14% share last year. “At the same time global investors continue to dominate funding activity with higher participation in entity-led deals. However, global investors are on a wait-and-watch mode until recessionary pressures persist,” said Vimal Nadar, senior director, Research, Colliers India. Investments in the commercial office sector saw a 53% year-on-year growth, according to the <keyword id="15577842" type="General" weightage="50" keywordseo="asia-pacific-market-snapshot" source="Orion">Asia Pacific Market Snapshot</keyword> | Q3 2022 report. Investment in the office sector accounted for almost half of the total investments in the real estate sector. In 2022, office leasing is likely to cross 50 million sq feet across the top six cities, surpassing the highs seen in 2019, said the report. However, the report predicts that the office leasing activity could remain muted in the fourth quarter (Q4) over apprehensions of a global recession but the adoption of technology in the workspace will drive innovation and demand in the future. Warehousing and logistics segments too witnessed a buoyant demand and a steady rise in absorption rates. In the residential sector, this was mostly seen due to lower interest rates and the offers during the festive season. Colliers believes that industrial and logistic spaces will likely remain in favour following the announcement of as much as $20 billion in investments in the country’s manufacturing sector. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/big-fat-indian-weddings-back-but-with-slimmer-guest-lists/articleshow/95657820.cms">Big fat Indian weddings back but with slimmer guest lists</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/essar-raises-2-05-bn-from-sale-of-ports-power-assets-clears-25-bn-debt-of-indian-banks/articleshow/95660290.cms">Essar raises $2.05 bn from sale of ports, power assets; clears $25 bn debt of Indian banks</a>

Share of domestic investors in real estate market is rising: Colliers

PE inflows into Mumbai realty drop sharply, NCR emerges as top favourite in 9MFY23: Anarock

<ul><li>Institutional investments into alternate real estate assets grew four-fold as compared to 2019, says a report by Colliers. </li><li>Most of the inflows went into data centers, which accounted for 52% of the total alternate asset investments. </li><li><keyword id="68968" type="General" weightage="20" keywordseo="institutional-investors" source="Orion">Institutional investors</keyword> pumped in $4.9 billion into the real estate sector in 2022 and the office sector accounted for 41% of the inflows.</li></ul>Institutional investments in alternate real estate assets have been rising in the last few years but in 2022, it hit a new high of $867 million, says a report by Colliers. Data centers, life sciences, senior and student housing, holiday homes and more such constitute alternate assets in the real estate market. Even as inflows into these asset classes account for 18% of the total institutional investments in this vast sector, it grew by a massive 92% year-on-year. Moreover, as compared to 2019, it constituted a four-fold jump. “The growth of alternate sectors is led by investors looking to diversify their portfolio, given steady returns in some traditional asset classes,” the Colliers report said. Most of the inflows however went into data centers, which accounted for 52% of the total investments in alternate assets. This was followed by others such as life sciences, holiday homes, hospitals, etc. “However, the traction in investments was seen largely in data centers, with the other segments witnessing scattered deals,” the report added. Investors buy into the back-to-the office theme Across all asset classes, institutional investors pumped $4.9 billion into the real estate sector in 2022. Their favourite pick is office spaces which grew 50% year-on-year on account of large deals. In fact, the office sector with investments to the tune of $1.9 billion accounted for 41% of the total inflows in 2022. “As investors eye building a portfolio that they can bundle up as real estate investment trusts (REIT), they continue to see resilience in greenfield and ready-to-move assets. Majority of the deals in the office sector were driven by global investors, who are looking at income-yielding assets,” the report said, adding that the gross yields for Grade A completed office assets stands at 8-9%. However, institutional investments into the residential sector dropped 29% and this is the asset class with moderate gross yields to the tune of 2-2.5%, while investments in the industrial and warehousing sector declined 63%. Apart from alternate assets, retail and mixed-use assets exhibited massive growth. Interest rates, recession may have a short-term impact However, Colliers also believes that high interest rates coupled with high inflation, recessionary concerns and geopolitical tensions in some countries may dampen fund deployment on a short-term basis. “The investments in Indian real estate have been consistent for the past few years and hence have the potential to grow due to the structural change in demand for capital. During 2023, while we may see some postponement in deployment, there is ample dry powder in the market across core assets and alternate assets,” said Piyush Gupta, MD, Capital Markets and Investment Services, <keyword id="3166898" type="General" weightage="20" keywordseo="colliers-india" source="Orion">Colliers India</keyword>. Gupta says that there is a strong performance in the residential, retail, and hospitality sectors, where 2022 witnessed some large transactions. “These sectors are likely to see more traction in the next couple of years. Performance credit, special situations, portfolio acquisitions, asset reconstruction, and related structures have been growing and are likely to attract more investments,” he adds. Domestic investors turn active While most of the institutional investment into real estate tends to come from global investors, domestic investors also turned active in the last year. While global investors are attracted by the stable demand dynamics and tend to participate in entity-led deals, residential assets accounted for a chunk of the domestic investments. “The share of domestic investment inflows in 2022 has surpassed the share in 2021, accounting for 22% share in total inflows. Overall, though the total investment inflows are yet to outrun the pre-pandemic levels, investors remain vested in India’s real estate even in challenging times. Large global investors will continue to partner with domestic firms to set up investment platforms,” Vimal Nadar, senior director and head of research, Colliers India. SEE ALSO <a href="https://www.businessinsider.in/business/news/flatheads-shoes-founder-denies-shark-tank-offer-sells-his-entire-inventory-over-the-weekend/articleshow/96849132.cms">This IIT-IIM startup founder denies Shark Tank offer, sells his entire inventory over the weekend</a> <a href="https://www.businessinsider.in/business/corporates/news/why-mcdonalds-is-going-big-even-as-pizza-hut-and-other-rivals-slash-store-sizes/articleshow/96782982.cms">Delivery versus dine-in: Why McDonald's is going ‘big’ even as rivals slash store sizes</a>

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