Union Budget 2020-21 was a ‘make or break’ Budget for the Indian government with most sectors (including real estate) seeking concessions.
Luxury housing sales are still in the doldrums with unsold luxury stock increased by 10% y-o-y in the top 7 cities by 2019-end, reveals ANAROCK data.
PRESS RELEASE
ANAROCK Commercial Launched to Tap INR 63,000 Cr Office Strata Sale Market
- To focus on sales of office assets to corporates, HNI investors & end-users
- ~ INR 2.5 Lakh Cr worth of Grade A office space under construction in top 7 cities to be completed over the next 4 years; 25% (worth INR 63,000 Cr) up for strata sale
- ANAROCK Commercial already secures mandate marketing of 3 mn sq. ft. of office space in NCR & MMR; to capture 10% market share in 1st year of its operations
Mumbai, 28 January 2020: Close on the success of its residential services vertical, ANAROCK Group today announced its expansion into office real estate.
ANAROCK Commercial will focus exclusively on strata sale office assets. Industry veteran Bappaditya Basu has been appointed as Chief Business Officer – ANAROCK Commercial.
Anuj Puri, Chairman – ANAROCK Group says, “ANAROCK Commercial was a part of our expansion plan, and its launch is a natural next step after our resounding success in the residential sales market,
Select malls, eateries, multiplexes and retail establishments can remain operational 24/7 in Mumbai as it joins the ranks of cities which operate 24/7.
100 new malls spanning over 49 mn sq. ft. are scheduled to come up across the country by 2022-end, reveals the latest ANAROCK research.
ANAROCK data indicates that of a total 1,816 residential projects launched across the top 7 cities in 2019, over 52% were high-rises.
In times of continuing low residential sales, strata sale of commercial real estate presents a huge opportunity to local as well as national developers.
The coworking culture in coffee bars or cafes is leading to a rise in the number of coffee chains and also concept cafes or bistros across cities.
Despite the relatively low rental yields, residential property investors increasingly prefer to earn a steady rental income over selling the property.
SBI’s latest and highly differentiated home loan scheme is an extremely good move and positive for the residential real estate sector as a whole.