Nearly 4–5 lakh Employment Opportunities Expected in Next Two Years

Employment opportunities to the tune of approximately four to five lakh are expected to be generated within the next two years across the country’s leading cities. In case India’s economic growth accerelates to above 6% in 2015, more such opportunities may be expected. The IT/ITeS and allied services sectors are likely to account for a substantial chunk of this opportunity, followed by the banking, financial services and insurance (BFSI) sectors; and distantly followed by research and consulting, pharmaceuticals, engineering and manufacturing, and telecommunications. According to CBRE Research, more than 70–80 million sq. ft. of fresh commercial office space is anticipated to become ready for possession by 2015, most of which are planned and under-construction IT/ITeS spaces. Assuming about 60–65% absorption levels for this upcoming office space, approximately four to five lakh employment opportunities may be realistically anticipated within the next two years.

Affordable housing, REITs, increased foreign investment and sustained economic reforms expected to upturn sentiments in the real estate sector in 2014

The year 2013 was characterized by persistently high inflationary trends, declining investment flows, rising borrowing costs, and a steep devaluation of the Indian Rupee. Demand in the realty sector remained subdued throughout the year—particularly in the housing segment, resulting in sales slowdown and pressure on asset pricing across leading cities.

Pune sees highest office space addition in Q4, 2013

Close to 7.3 million sq. ft. of office space supply entered the market in Q4 2013, as compared to less than 3 million sq. ft. in Q3 2013. This was led largely by a number of commercial and SEZ developments that had been delayed over the previous two quarters, and were finally completed in Q4 2013. Pune led these project completions, followed by Bangalore and Hyderabad—together contributing to about 71% of the total new supply in India’s top office markets in the last quarter of 2013.

BANGALORE: Top Office Market of 2013 – Registers 32% y-o-y office space absorption growth

The total office space absorption across the country’s major cities stood at approximately 28 million sq. ft. by end-2013—a y-o-y growth of nearly 9%. Bangalore came out as the leading Indian city for office markets in 2013 with a total space absorption of about 8.3 million sq. ft., witnessing y-o-y growth of nearly 32%, followed by Mumbai and Delhi NCR.