Anuj Puri is Chairman, ANAROCK Property Consultants. He has over 30 years of experience in multi-disciplinary advisory and transactions ranging from real estate to social development projects. Expertise in planning, undertaking demand assessment studies and transaction services including marketing strategies based on technical real estate market analysis, feasibility studies, program requirement derivation and fund and investor sourcing.
Today, a city’s real estate success formula depends on quite a few other industries than just housing. Housing demand is a natural by-product of the success of businesses and industries that drive consumption and create jobs.
Chennai’s strengths as an automobile hub have already earned it the tag of ‘the Detroit of the East’, but it has also emerged as one of the leading IT/ITeS destinations of the country.
Both these industries drive job growth, which in turn drives housing demand, but there are at least two other industries that share a deep symbiotic relationship with Chennai’s overall real estate viability – the organized retail and warehousing & logistics sectors.
Shopping Malls
An economic downturn or no economic downturn, Indians love to shop.
Some consumer items like cosmetics (the fabled ‘lipstick effect’), fast fashion and electronics like Smartphones are actually beating the current trends, with the growth figures in these industries still firmly in the green.
Malls are the best places to shop for these – and to enjoy a few hours in clean,
In another positive and a bold step to help revive the economy from its slumber, the FM has slashed the corporate tax rates to 25.75% from earlier 30%.
According to ANAROCK research, nearly 2.5 lakh units across top 7 cities can get relief from the government’s aid for last-mile funding of distressed homes.
Chennai’s diversified economy pushes the city’s real estate growth, according to ANAROCK's latest report, Chennai: Driven by Diversified Economic Base.
The Indian government will contribute INR 10,000 crore to provide last-mile funding requirements for stalled housing projects that are non-NPA and non-NCLT.
Mumbai is in desperate need of public transport solutions, but as the Aarey Metro Debacle shows, should development come at the cost of the environment?
South Mumbai's Tardeo is India’s most expensive luxury residential location in the primary (first sale by the developer) residential real estate market.
If the hope of a price correction keeps you from buying a home, it may be a pointless wait. Prices are already increasing on the back of improving sales.
In a major boost to the slowing economy, the Indian FM gave a slew of benefits to the banking and financial sector including NBFCs, HFCs and even MSMEs.
