In the past, the RoI on housing assets had been quite satisfactory and in some cases even spectacular, depending on the aptness of choice in terms of specific location, configuration, amenities and builder's brand. While rental yields for residential assets in India have historically been low, capital appreciation alone was a sufficiently dynamic prospect for most real estate investors.
Smart City Kochi, a flagship IT township project originally conceived as a JV between the Kerala Government and Dubai-based Tecom Investments, has got a new boost as the CEO of Smart City Kochi has planned for an additional three phases for the project.
The Nagpur-Mumbai Super-Communication Expressway, popularly known as the Maharashtra Samruddhi Corridor (MSC), will assure sustainable development and is expected to buoy employment generation, agricultural growth, robust infrastructure and reverse migration.
Duville Estates has launched a residential township project ‘Riverdale’, its first project in Kharadi, Pune. The project comprises of three premium offerings – Riverdale Heights, Riverdale Grand and Riverdale Residences – spread over 31 acre.
DLF will invest about Rs 500 crore to develop an IT Park in Chennai as the commercial real estate market has picked up in major cities. The realty firm has exhausted its commercial space stock by leasing out over 32 million sq ft. It expects to earn about Rs 2,700 crore rental income in the current fiscal from its portfolio.
Bangalore's builders are facing stiff competition from the big IT park developers. Embassy Group and DivyaSree Developers, better known for their office buildings, together garnered more than 5.5 per cent share of the residential market last fiscal, intensifying top-tier competition in probably the only Indian metro to report double-digit growth in home sales.
In Bangalore's Hebbal, Bhartiya City, an integrated city spanning 125-acres and envisioned as the largest development of its kind within metro limits in India, has announced the appointment of Pratibha Industries and BL Kashyap & Sons as their construction contractors for Nikoo Homes and IT Park respectively.