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Real Estate >> News
Commercial And The Residential Real Estate..Go Hand In Hand In India
By
siliconindia
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Tuesday, November 26, 2013
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The residential market in India has been moving towards a grip of prosperity and expansion while riding on few triggers of growth in the present day. This subsector of construction has been substantially aided by the upheld demand of premium and affordable residencies in the metro regions. Though, there have been few hiccups in other segments but with wait and watch trading and price corrections, other domains are also reviving from this natural shift in the market.
Lately, the office space market has been ridden with talks of reduced demands, cheaper rents, price corrections and rising vacancies. The tier two cities and outskirt locations in the metro regions have said to be undergoing a price correction. However, there have been updates of commercial properties at Nariman Point in Mumbai and Cyber City in Gurgaon which have been undergoing buyouts and increasing their rental and leases rates.
Along with the upheld appreciation of properties at upmarket and central locations in the Indian metros, yet another interesting trend in this market is in the making. As reported by the Bloomberg, the leading developers are considering, transforming their plans of commercial developments into the residential zones. The corporations are bearing in thought to come up with residential localities instead of the commercial properties, where ever it is feasible.
If one agrees to the trends in the commercial property markets as discussed above, then it comes across to be an instance of misjudgment of demands at the development front. However, a utilitarian way out of this situation has come to benefit the residential sector. The developers are encouraged to develop residential spaces which fetches them upfront revenues and has a better stance when compared to the commercial spaces, leaving aside the upmarket commercial zone which are still in high demand.
Looking at the broader perspective, it will be a partial truth if the commercial property market is totally seen in the light, sighted above. The locations like Bangalore and Pune have been thriving with upcoming office spaces at a bit distant locations from the central business districts.
In summation, the Indian property market is undergoing a bit of a shuffle during the present day. The growth and expansions have been maintained in certain domains of constructions and as discussed in this piece, there are signs of revival in other subsectors too.
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