Real estate sees spurt in demand, fresh flow of funds in 2022: CBRE-CII Report

photo 1460317442991 0ec209397118?ixlib=rb 1.2 — Real estate sees spurt in demand, fresh flow of funds in 2022: CBRE-CII Report 2

This upward growth was primarily caused due to rising demand from office, retail and residential spaces, as the government reforms continued to encourage the overall Real Estate sector.

The real estate sector has witnessed a steady upward momentum through the year 2022, stated the CBRE-CII joint report named ‘Indian Realty – Charting the growth roadmap for 2022′.

This upward growth was primarily on the back of rising demand from office, retail and residential spaces as the government reforms continued to encourage the overall realty sector.

A few key highlights of this growth has been recorded as follows:

1. With the opening up of markets in the country, the demand for office spaces picked up pace. This buoyancy was majorly witnessed in Q2 2022 which witnessed record leasing activity – space take-up grew by 220% Y-o-Y in Q2 2022 to 18.2 million sq. ft. Overall, in H1 2022, 29.5 million sq. ft. of leasing activity was recorded, up 157% Y-o-Y. Despite this, the hybrid mode of work remains the most favored workplace policy.

2. The real estate investments went through a robust recovery in India with its space growing by 4% Y-o-Y in H1 2022 to USD 3.4 billion. The office sector dominated the investment activity during this phase where they occupied a share of 48%, followed by developmental land/sites that occupied 33% of the same. There was a significant improvement within the retail sector which held 13% of the total inflow s in H1 2022 compared with 1% in the entire 2021

3. Retail, as mentioned is going through vigorous recovery due to the unleashing of the so-long bottled-up demand and the ever-increasing demand for e-commerce. Y-o-Y growth of 166% caused leasing activity to touch 1.54 million sq. ft. in H1 2022. This includes the blend of the industry with retail by many stores, and the need for spaces by many home-grown D2C brands for a physical presence, among many others.

4. Multiple property prices are seen rising in H1 2022, due to the unprecedented launch momentum in the residential sector. This rise in prices is prevalent across most micro-markets and segments due to record sales and developers’ decision to pass on rising construction costs to buyers. But, going forward, this appreciation of prices could be selective and the sale of new launches may reach a decadal peak in 2022 and cross the 200,000-mark.

5. The industrial and logistics sector expects an overall leasing activity in 2022 to remain range-bound at about 28-32 million sq. ft., a growth of up to 12% on an annual basis. This may be a result of the continued expansion of 3PL and FMCG and other manufacturing players taking up space, ones that are the backdrop of every macroeconomic recovery. Given that supply chain firms have started to mellow in the recent past, supply addition is expected to improve in H2 2022 and about 25-28 million sq. ft. of new warehouses to become operational during the entire year – a growth of up to 12% on an annual basis.

Mr. Anshuman Magazine, Chairman & CEO, India, South-East Asia, Middle East & Africa, CBRE, spoke on the changing dynamics. “The real estate sector in India performed well in H1 2022 amid the evolving market dynamics. As the economic recovery continues to gain momentum, we expect a further boost to the leasing activity across the sectors. We estimate alternative segments such as flexible space will pave the way for innovative new-age RE solutions and supplement economic growth. Robust policy and regulatory environment will encourage overall infrastructure growth in the long term.”

Read the Article on Money Control : https://www.moneycontrol.com/news/business/markets/real-estate-demand-investments-pick-up-in-2022-cbre-cii-report-9176291.html

Elan Group buys 7.65 acre land in Gurugram from Ambience group for over Rs 200 cr

Gurgaon-based Elan Group has acquired a 7.65 acre land parcel from Ambience Group for about Rs 200 crore, three people aware of the deal said. The land is located at Sector 82, Gurgaon and the builder will develop one million sq ft of commercial project comprising of retail, office, service apartments and a hotel.
“Ambience group is looking to dispose off land in order to raise fund. Lenders have already put its flagship Vasant Kunj mall on auction and the group is trying to raise money from wherever it can,” said one of the person quoted above.

The total value of the transaction is over Rs 200 crore which also include departmental dues, which will be cleared by Elan group. The land was part of a company and share of that company has been transferred to the Elan group.
Recently, Elan Group has also acquired 40 acres from Indiabulls Real Estate for Rs 580 crore in Sector 106, Dwarka Expressway, Gurgaon, in one of the biggest land deals in the country in recent times.

Acquiring land in the NCR is becoming increasingly difficult for real estate developers with the involvement of lenders, growing legal issues, and high fee levied by some state authorities in the micro markets.
Experts at international property consultants said absence of clean title was also making it hard for big developers to buy land.

Most of the recent land acquisitions have happened either through bank auctions or by taking over the debt of the developer.
Elan group has so far delivered three projects in Gurgaon and is constructing five more.

To read more visit The Economic Times

https://m.economictimes.com/industry/services/property-/-cstruction/elan-group-buys-7-65-acre-land-in-gurugram-from-ambience-group-for-over-rs-200-cr/amp_articleshow/93519166.cms

Things to keep in mind before purchasing property

Established budget

It is wise to have a budget set before you start looking out

Check for RERA registration of the project

Under RERA’s guidance, any grievances are quickly resolved

The property should have excellent connectivity

Real Estate experts believe having excellent connectivity to amenities could play a vital role in resale value that the investor will benefit from future, and also it increases the prospect of rental income

Be clear with what you want in a property

One has to be clear in thoughts as to what you want to do with the property. You wish to earn rental income, own use, or for investment resale value purpose

Understand the initiatives and the schemes

If you are a first-time buyer then there are plenty of attractive loan incentives offered by the Government of India

Open spaces, sports and recreational facilities

It is mandatory to understand the essence of having a property with amenities that are always the best choice

Gurugram’s Sohna Elevated Road open for traffic

ommuters can now travel seamlessly from Gurugram to Sohna as the entire 21.65km-long Sohna elevated road has now been made available to the public after the National Highways Authority of India (NHAI) opened the remaining 8.94km section between Rajiv Chowk and Badshahpur for traffic on a trial basis on Monday afternoon.

The elevated road has significantly reduced travel time between Gurugram and Sohna as now, commuters can easily avoid congested junctions, such as Vatika Chowk and Subhash Chowk, which fall on the stretch, and instead take the elevated road to reach their destinations. “Until earlier this year, it took at least an hour to cover the entire 21.65km stretch. Now, it will take commuters hardly 15-20 minutes to cover the entire stretch,” said an official spokesperson of the NHAI.

A 750m underpass at Subhash Chowk, which is also a part of the project, was also opened to vehicular traffic around 1pm on Monday. The 12.71km section of the project between Sohna and Badshahpur was opened for vehicular movement in April this year. “Keeping public convenience in mind, we opened the remaining section of the Sohna elevated road on the scheduled date of inauguration (Monday) on a trial basis. A formal inauguration of the project will happen very soon,” said P K Kaushik, project director of NHAI.

The inauguration of the project by Union minister for road transport and highways Nitin Gadkari was scheduled to take place on Monday but it was cancelled. According to a senior NHAI official overseeing the project, the minister on Sunday directed to open the remaining section without a formal inauguration. “The construction of the 8.94km finished around two weeks ago and all the requisite road quality and safety tests were completed in the interim,” said the official.

Gadkari took to his official Twitter account around 12:30pm on Monday informing the road will be opened for traffic. He stated that the elevated road is being developed as a six-lane stretch at an estimated cost of ₹2,000 crore and includes three service lanes on each side.

The minister also said that with an interchange at Alipur on the elevated road stretch, the project will serve as an important link for the Delhi-Mumbai Expressway. The elevated road also falls on the 130km route between Rajiv Chowk and Alwar in Rajasthan. It is expected to bring down the travel time to from three hours to just over two hours, said NHAI officials.

The NHAI spokesperson quoted above said the construction of the project commenced on January 1, 2019, and the original time period to complete the project was 30 months. “Due to interruptions in construction work arising from the Covid-19 pandemic, the deadline was later extended to June 30, 2022,” he said. Besides the pandemic, a 40m under-construction portion of the elevated road collapsed near Vipul Greens society in August 2020, which held up work for nearly two months.

Commuters were beyond elated to access the elevated road on the first day of its opening as it has reduced travel time to one-third of the time taken earlier to cover the distance.

“I took a drive on the newly opened elevated road…I reached Sohna from Rajiv Chowk in under 20 minutes. The same journey usually took an hour to complete, which sometimes crossed over 100 minutes during peak traffic hours,” said Harshit Shukla, a resident of Sector 70-A.

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Property buying Guide: 4 checks that will keep you safe

Often naive home buyers are tricked by scammers who take advantage of the former’s ignorance to dupe them of their hard-earned money. Buying a house is normally the biggest purchase a person makes in his lifetime. Therefore, any laxity in doing due diligence while buying the property could cost you your entire life savings. Read this Property buying guide for detailed information
Here are four common ways property is sold fraudulently which you should be aware of.

When title deeds or revenue records are fabricated

It is imperative to check if the property you’re buying has a clear title and is in the name of the seller whether it’s an apartment, land or an independent house. Moreover, the original sale deed should have been registered. You should thoroughly cross-check the entire chain of documents. The chain starting with title deed which validates that the seller is the true owner of the property to sale deed, encumbrance certificate, property tax receipts, among other things.

“As one applies for the encumbrance certificate from the sub-registrar’s office, the document should reflect the name of the owner,” says lawyer Saravpreet Gurna, who practises in the Punjab and Haryana High Court. The encumbrance certificate certifies that the property has no dues. This means that the title of the property is clear and marketable. In addition, all the transactions related to the flat will be displayed on this certificate. A fake document quoting similar details as mentioned in

the original sale deed could also be prepared. “Without relying on photocopies, it’s advisable to check the original deed and get it examined by a lawyer,” says Noida-based lawyer Atulay Nehra, who specialises in real estate litigations. He says many times a conman gets into sale agreements with different people simultaneously, fraudulently pocketing earnest money from all the deals.

Many cases have emerged in big cities where even though the flat is registered in the name of the owner, the owner may have given a power of attorney to a third party to deal with the property. It is important to check if the power of attorney holder has entered into any arrangement with any third party. Also, it is advisable to cross-check revenue records, such as in the government land revenue department, in situations where the title documents to

support the ownership of an individual, is absent. “There have been cases where a property has been registered but mutation has not been done in the local municipal corporation office. It should be cross verified either online or in the revenue department office. Apart from that, making local enquries always come handy,” adds Gurna.
“In recent years, many state governments have digitally recorded the revenue

and land records, municipal records, and other records at the office of the sub-registrar. These digital documents are available online, at the websites of the relevant government departments. At the time of review of title documents, it is now a standard practice to also verify the records available online. If any mismatch is found between the documents physically available and the documents available online, then the possibility of fabrication cannot be ruled out,” says Srinivas BR, Partner,DSK Legal.

When power of attorney is forged
Legal eagles advise against buying properties through power of attorney because there are good chances that the property being bought by you on power of attorney is a fake one. A conman prepares a fake power of attorney, based on which the sale is executed in favour of unsuspecting buyers

The modus operandi of the fraudster is to fabricate the title deed of the real owner and the seller claims that the original documents were lost. “In this scenario, it’s important to get the power of attorney verified by the owner whose name

is mentioned in the property papers Also, obtain an affidavit from the present owner stating that the originals have been lost, and once traced, will be handed over to the purchaser,” says Gurna. He adds that a power of attorney is prone to frauds because the same property can be sold to different persons. “Many such cases have come to light where the real owner nominates more

than one person for the specific power of attorney and all of them end up selling the property to different people,” says Nehra. A registered PoA is considered safer than a simple notarized PoA. Adding a blanket indemnity clause in sale deed helps to protect buyer against future risk

Srinivas adds that online litigation search can be conducted at the e-court website, although in a limited way, to ascertain pending or past litigation in connection with the property. “If any litigation is identified, investigation into the same will disclose past or ongoing issues which may relate to authenticity or hidden mortgages,” he adds.
He adds that one must also obtain photocopies of the seller’s PAN card and voter ID and get them verified

When the mortgage is not cleared
Many cases have emerged where the seller has not cleared the mortgage before transferring the house. “The scam artiste avails of a home loan against the property, disposes of the property and vanishes into thin air. The person at the receiving end often has to fight a protracted legal battle to get his money back,” says Nehra. Therefore, it’s advisable to take a home loan to buy a property. “It’s a simple way to check if the property is ‘

clean’ as banks or financial institutions approve only legally cleared properties, which have the requisite documents. This helps buyers avoid getting trapped into a bad deal,” says Gurna.

When succession certificate if fake
Here properties are sold based on fake legal heirship certificates. These kinds of frauds usually happen due to unavailability of original documents. Fraudsters usually give an advertisement stating the loss of the original document in a lesser-known daily. “Buying a property whose original title deed

documents are not available is a very precarious situation. It’s important that along with the succession certificate, the death certificate is also cross-verified either online or with the records of the issuing authority,” says Gurna.
“It’s very important to do due diligence with regards to the title of the property. Apart from thoroughly checking the title documents, the seller must

give an advertisement in the newspaper inviting objections from the public regarding the transaction on the property. This will mitigate the possibility of fraud or concealment of issues,” says Srinivas.

Nehra adds that it is increasingly getting difficult for scam artistes to defraud people based on fake property papers because everything is online. “In earlier times, when everything was done manually it was easier to forge papers. These days photographs and thumb impression on documents have made the job of conmen much difficult,” he sums up.

Thus, it’s important to tread carefully as scam artistes are always looking for an opportunity to take you for a ride.

Visit: http://urbanplus.co.in

Want monthly income from your shop, office? Commercial real estate can turbocharge rental income – Here’s how

Traditionally, commercial leasing is a better investment option than residential markets as it can ensure recurrent rental income elan sector 106 Gurgaon.

Commercial leasing activities are once again picking up stemming from a robust economic outlook. Most large corporates are now implementing back-to-office programs. Pent-up demand in the market is also fuelling growth.

Traditionally commercial leasing is a better investment option than residential markets as it can ensure recurrent rental income. Consequently, the investor fraternity is once again aggressively betting big on the commercial market, which comprises a wide range of assets such as office premises, fractional ownerships, co-working spaces, retail stores, etc.

Tips that can turbocharge the rental outputs in commercial investments:

High demand locations

As on today Gurugram is in high demand that will give better returns.

2.Quality properties

A good quality project will always attract better clientele. As URBAN PLUS being an experienced advisors we recommend few best options Elan The Presidential, ELAN EMPIRE, M3M 65^TH AVENUE , M3M IFC and many more..

3 RERA certified projects

4 Lease terms

A better landlord-tenant relationship is the cornerstone of prudent commercial leasing business in Gurugram you can get 9 years lease guarantee at M3M 65TH AVENEUE M3M BROADWAY M3M IFC & many more…

5 Reputed tenants

If a tenant is a large-sized business with good cash flow then it will ensure a hassle-free business alongside a constant rental income without any hiccups

INVEST IN BRANDS LIKE : MAX ; LEVI’S ; PUMA ; BIG BAZAAR & MANY MORE….

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M3M acquires two land parcels in Gurgaon for Rs 670 crore from HSVP

Realty developer M3M has acquired two land parcels in prime areas of Gurgaon for Rs 670 crore in an auction held by Haryana Shahari Vikas Pradhikaran (HSVP), director Pankaj Bansal told ET.

One of the plots measuring 3 acres along golf course road will be developed into a 600,000 sq ft retail and office complex, while the 1.3-acre land parcel on MG Road will be developed as a retail complex spread over 180,000 sq. ft.

“We will start the project this year and are looking for more attractive land parcels in government auctions. We plan to have a number of retail destinations in the centre of Gurgaon,” Bansal said.

The company will invest close to Rs 400 crore in the construction of these projects.

“The top line of the Golf Course Road project is Rs 2,000 crore, while for MG Road it is Rs 650 crore. We are open to acquiring more prime land with a special focus on retail projects,” Bansal said.

Last year, the developer had acquired two land parcels in Gurgaon’s Sector 57, where it aims to develop 800,000 sq ft of retail space with an investment of Rs 530 crore.

The 1.5- and 3.5-acre plots in Sector 57 are on the main road and the company will develop high-streets as demand

demand for open markets has increased after the Covid-19 pandemic.

M3M India has, till date, delivered 3.9 million sq ft of retail space at Golf Course Road (extn.), making it the largest retail space developer elan the presidential dwarka expressway in sector 106 Gurgaon.

“More than 200 prominent brands have already been associated with M3M India,” Bansal said. “Timely delivery of our projects makes it easier for customers and investors to assess their investments and the

escalations.”

The real estate company has delivered 39 projects in a decade.

M3M reported Rs 6,100 crore in sales in FY22 and expects to reach Rs 10,000 crore this year.

“We have a mix of retail, residential and office space launching this year. The majority of them are in the centre of Gurgaon,” Bansal said. “In addition, we might acquire fresh land and launch the project within this financial year.”

escalations.”

The real estate company has delivered 39 projects in a decade.

M3M reported Rs 6,100 crore in sales in FY22 and expects to reach Rs 10,000 crore this year.

Gurugram: Tests begin, Sohna elevated road project in final lap now

GURUGRAM: The 21km-elevated Road, meant to provide seamless connectivity between Gurugram and Sohna, is expected to be fully operational by June 30, with officials saying they have begun tests on the 9km-portion for which construction has been completed.

Officials of the National Highways Authority of India (NHAI) said on Sunday they are carrying out “road testing” of the Rajiv Chowk to Badshapur part of the elevated road, and “load testing” on this section will begin this week. These tests will be used to assess whether the stretch meets the parameters that were planned.

The Sohna Elevated Road project was divided into two packages for construction — from Rajiv Chowk to Badshapur, and a 12km-section from Badshapur to Sohna. The second stretch was opened to commuters this April elan the presidential dwarka expressway in sector 106 Gurgaon.

The test on the Rajiv Chowk-Badshapur section involves checking infrastructural components that prove the road is safely motorable, officials said. Load testing includes processes to gauge how the road spans – sections between the pillars – will withstand heavy weights

“We have already started road testing of the elevated road, which includes checking many factors such as the roughness
index, undertaking visual inspection, or checking the length or width of the road to ensure it is as planned,” a senior NHAI official said. He added “load testing will also begin in the coming week and both processes will continue simultaneously”. To check strength, the official said, loads greater than the planned design will be filled up in trucks and placed on the road spans for up to 24 hours. “The weight can be increased or decreased to better understand exactly how much load the span
can withstand,” he said. The road will be opened once these tests are completed and the stretch is deemed fit for opening to commuters. “We will directly open the stretch once these tests confirm everything is according to plan on the ground as well. A trial run is not required. We expect to be able to open the stretch by June 30,” said the official quoted above.
The project, aimed at providing signal-free connectivity between Gurugram and Sohna, will enable commuters to avoid several congested junctions such as Vatika Chowk on the way.

GURUGRAM: The 21km-elevated Road.

This festive season will be a boon for people investing in real estate: Rahul Setia, MD Urban Plus

The economic outlook for the year is positive, and the real estate market is on the verge of a speedy revival. As property prices have stabilized now, income levels are rising, interest rates have dropped and property registrations are at an all-time high.

The upcoming festive season until Year end is going to be a great time for the real estate sector. The property rates are expected to rise as it will be a great opportunity for all property seekers & investors who have been looking at investing in real estate in Gurgaon.

While discussing the current scenario of the industry, a real estate expert and Managing Director of Urban Plus Infrabuild, Rahul Setia said, “The on-going scenario of Gurgaon real estate gives you an ample opportunity to grab your investment at best prices as all the developers will be running a festive season sales. What started as a slow year, will end on a wonderful note. The low interest rates that have been fixed pre-festivities will be a hallmark in the market and will certainly bring a boom in the market and sales have already zoomed better than pre covid levels.”

“This goes to show that despite the challenging macro environment there are consumers in the market, who remain interested in putting money in real estate. The COVID-19 pandemic has reinforced the importance of owning a bigger space and second income source was visible in the sales numbers during the festival season,” he said.

In Setia’s opinion, “Market has already seen the sudden boom in the real estate market since the past few months. We feel the festival season will witness a boost in the market’s sales. The festival season is considered an auspicious event to make investments and what better way to mark the occasion by investing in property.”

Urban Plus is a leading real estate developer and advisors in Delhi-NCR region. The team of experienced professionals from Urban Plus pride themselves on being a boutique real estate firm that focuses on the needs of specific clients. Urban Plus offers a premium service to organizations and individuals with whom they share common goals. Urban Plus is synonymous with the high-quality service offering and premium brands, takes an approach to real estate that is long term in nature and invests in strategic relationships.

In recent conversation, Setia quoted, “We have always said that our relations with customers are of utmost priority. We believe in building trust with our customers and going the extra mile to bring that spark in their eyes/a smile to their face. We feel our customers deserve an extraordinary experience. Because of this approach, we have been able to complete 500+ transactions post second wave.”

Led by a group of dynamic and visionary investors and a Managing Director having 15+ years of experience in the real estate industry, Urban Plus aims to help people who don’t have any prior experience in buying or selling properties.

Source : https://www.business-standard.com/content/press-releases-ani/this-festive-season-will-be-a-boon-for-people-investing-in-real-estate-rahul-setia-md-urban-plus-121103000842_1.html

COVID Pandemic ignited a boom in commercial real estate sector, Investment becomes a safer option for buyers.

Real Estate sector of Gurugram has shown an upward trend when everyone had thought dip but it is proving to be involatile even during this unprecedented time.

Pandemic has made people realise the value of second income in which Commercial Real Estate has emerged out as top choice of investment as it guarantees passive Income and Capital appreciation.

Opening up of the restrictions after the Covid second wave led to a V shape recovery again in the realty sector leading to upsurge in the demand for Commercial sector where sales have even gone past pre Covid levels now.

It’s just the start of boom in Commercial Real Estate and I see the trend catching up more with the high income group of youths with evolved mind set of owing a physical asset with guaranteed income than other sources of investments.

Source : https://www.aninews.in/news/business/business/covid-pandemic-ignited-a-boom-in-commercial-real-estate-sector-investment-becomes-a-safer-option-for-buyers20210830133226/