East India Mid Year 2012 Real Estate Market Report Values, Trends & Opportunities
Office Retail Residential Land Warehouse
Where trust comes first Research Desk From the as USisthestrongestbusiness may brightenIndianeconomicscenario partial recoveryofUSeconomyin2013 transparency. Moreover,anticipated which promisestoincorporate may furtherinducebuyers'confidence awaited 'TheRealEstateRegulatoryBill' reduce thedebtburden.Passingoflong great dealofdiscountstobuyers regain itsshapeasdevelopersmayoffer grow innearfuture.Demandmay market inIndiahasgoodpotentialto Despite alladversaries,realestate liberalization reformaspect. government's finalstandontheretail space isheavilydependingonthe favorable coststructure.Futureofretail at specialeconomiczones(SEZs) their interestinpre-leaseofficespaces Technology (IT)giantsarestillnurturing some resilienceasInformation commercial spacesegmentmightshow solution tothesituation.However, correction measuremaybeapossible due tohighprice.Therefore,aprice market isexpectedtoremaintroubled supply remainedunaltered.Residential catalyzed thedemandsidethough rate andpriceshavenegatively downturn. DeclineinFDI,highinterest the ongoingoveralleconomic inevitable turbulenceasanimpactof Indian economy,hasalsosufferedthe contributing sectorstowardGDPof Real estate,oneofthemajor
CONTENTS An IntrospectiveOverview Indian Economy Retail Kolkata Land andWarehouse Kolkata Residential Kolkata Landscape The Changing Guwahati Bhubaneswar Jamshedpur Ranchi Asansol Durgapur Bardhaman Office Kolkata 7 6 4 3 19 17 16 14 12 11 10 9 8 INDIAN ECONOMY the bottom.Cloudofambiguitygeneratedin business confidenceofinvestorshasreached to thepain.Thefutureisalsonotverybrightas global economicmeltdownhasaddedmuch Q4 2011)ofthecountry,externalfactorlike growth (5.3%inQ12012ascomparedto6.1% stones toreduceGrossDomesticProduct(GDP) reform implementationhavelaidthemajor factors likesternpolicybottlenecks,lackof growth inIndiaduring2009-2011.Ifinternal demon afteraCinderellastoryofeconomic Year 2012hasbeenwitnessingtheredeyesof 1,000.00 1,200.00 1,400.00 1,600.00 1,800.00 2,000.00 200.00 400.00 600.00 800.00 0.00 E a s 2008 t
I n d i a
R India GrossDomesticProduct(GDP) 2009 e a GDP (US$billions) l
E s t a t O An Introspective nations), whichshallfurtherexpectedtomake to 'BBB-'negative(thelowestamongtheBRIC India's sovereigncreditratingfrom'BBB-'stable in itsmidyearreviewhasrecentlydeclined Standard &Poor's,aUSbasedcreditratingfirm, multi-brand retailto49.0%).Inadditionthat, decision aboutraisingthebarof26.0%FDIin in thestateoflimboduetoonholdreform to inducetransformationinIndianretailsectoris decisions (e.g.–ForeignDirectInvestment(FDI) has adverselyaffectedlargeinvestment government, itscoalitionandoppositionparties major reformareasduetoconflictsinsidethe e 2010
M v a r e k e t r 2011
R v e p o i
Mir d Year 2012 e t
2012 w 3 Where trust comes
KOLKATA first Residential • Latest trendsataglance: end usersareoptimisticaboutfuturereturn. place, therefore,demandremainsstableas since nopricecorrectionmeasurehastaken development. However,onthedemandside, investment confidencehasreducedproperty national levelplayersduetodearthof 2012. Onthesupplyside,lackofentry still mainlyenduserdriveninthefirstquarterof The natureoftheresidentialmarketinKolkatais is directlyaffected. any economicmayhemlikethiswhereindustry to othermetros.Thusthecityislesssensitive resulting inpoorindustrialgrowthascompared destination intheeyesofoutsideinvestors, Kolkata remainedasthebottomchoice its economichistory.Overalongtenure, such areversephenomenonisdeeplyrootedin property marketofKolkata.Thereasonbehind make muchofanimpactontheresidential The currenteconomicslowdowncouldnot Introduction Magnolia City Dream Exotica Chitrakut Dham BCT SonarSansar Siddha Sphere Arihant Garden Urban Greens P Emerging areas: Upcoming Projects roject Madhyamgram, Sonarpur,BT Barasat Madhyamgram kestopur Sonarpur Rajarhat Rajarhat Rajarhat L ocation Magnolia InfrastructuresDevelopmentLtd. Jain Group NNPL andMeridianGroup BCT Infrastructure&PurtiGroup Siddha Group Arihant group Loharuka Group&BaghbanDevelopers Developer • • Latest trendsataglance: and risingincomestandardofpeople. (NRIs) duetodomesticcurrencydevaluation increasing interestofNonResidentIndians be contributedtoriseinbusinessclass, same asabovebutdemandescalationcould driven. Although,thesupplysidefactorsare Residential highendmarketisalsouser High EndMarket • • • • Road, JessoreOldRajarhat,Behala Major projects(firsthalf2012): Emerging areas: P Major projects(firsthalf2012): Development atR Price hasbeenescalatedbyapproximately Tower, UnimarkGrandandothers. South CityGalaxy,ManiImperial,Unimark Sansar Magnolia City,DreamExotica,BCTSonar Rajarhat 20.0% inthemetroconnectedarea referred budgetsize: EasternBypass ajarhat area: 35-45lacs(approx.) L and Area(Cottah NewTown,Old QueensTower, 400.2 Emami City, 480 101 141 92 78 45
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North Kolkata South-Central Kolkata
Location Rate (Rs./Sq.Ft.) Location Rate (Rs./Sq.Ft.)
Jessore Road 2000 - 4600 Queens Park & 18000 - 22000 VIP Road 2800 - 5040 Sunny Park Madhyamgram 2055 - 2800 Gurusaday Road 15000 - 18000 B. T. Road 2761 - 2861 Ballygunge 15000 - 20000 Central Kolkata Circular Road Ballygunge 15000 - 18000 Rate (Rs./Sq.Ft.) Location Park Road Mayfair Road 10000 - 15000 Park Street 12000 - 15000 Ballygunge Place 7000 - 10000 Loudon Street 12000 - 18000 Gariahat & Golpark 8000 - 12000 Theatre Road & 12000 - 18000 Camac Street Rashbehari 7000 - 9000
South Kolkata
Location Rate (Rs./Sq.Ft.)
Lansdown Road 10000 - 15000 Bhawanipur 8000 - 12000 P. A. Shah Road 8000 - 13000 Tollygunge 4000 - 6500
South-West Kolkata
Location Rate (Rs./Sq.Ft.)
Alipur 12000 - 18000 Behala 2500 - 3000 Batanagar & 1800 - 2550 Maheshtala
South-East Kolkata
Location Rate (Rs./Sq.Ft.)
Garia 3700 - 4000 Narendrapur 2800 - 3700 R. B. Connector 5000 - 6000
East Kolkata
Location Rate (Rs./Sq.Ft.)
E. M. Bypass (Central) 4600 - 10500 New Town 3300 - 4000 Arihant Cavetto, Jodhpur Park Where trust comes
KOLKATA first Land Lease Rate(Warehouse) lands properties aremajorsourcesoflion'sshare horizon. Principally,farmers'landsandancestral 24 ParganasandJokatoDiamondHarbour beneficially infasterdevelopmentoftheSouth clearance. Thesefactorscontributed land israreduetohitchofgovernment picture butavailabilityofclear,consolidated and B.T.Roadsurroundingportraysanopposite Town area.OnthecontrarythoughRajarhat demand hasdecreasedalarminglyatNew price hikeduringthesecondhalfof2012.Land elevation whichlikelytobeget10.0%15.0% and suburbshavealsowitnesseddemand District (CBD)areasalthoughgreaterKolkata escalation isquiteevidentatCentralBusiness commercial andretailrequirement.Price on accountofaccretionresidential, growth. InKolkata,landdemandisonasurge Land demandiscomplimentarytoindustrial Land In responsetogrowinglevelofindustrialization, Warehouse Company/Brand Hindustan Uniliver Significant Transaction NH6 NH2 Taratala, HideRoad Budge TrunkRoad BT Road Barasat, Madhyamgram L ocation in Kolkata. and Dankuni L ocation W R ate (Rs./Sq.Ft.) arehouse 12 16 20 16 18 14 Area (Sq.Ft.) ------1.5 Lacs 24 18 25 20 28 18 improved transportation,zerotimerestriction, due towidearrayofadvantagesincluding the favouritedestinationformajorindustries decrease infuture.Tilldate,NationalHighwayis overall vacancyratesareexpectedto little newsupplyofwarehousesinpipeline,the during thesecondhalfof2012.However,with rental ratesofwarehousesby5.0%to10.0% substantially. Suchdemandisexpectedtouplift have raiseddemandfororganizedwarehouses engineering, telecom,power,steelandothers large scaleindustriessuchasfood,automobile, increasing investmentsinvariousmediumto years, emergenceofmodernretailalongwith warehouses. InKolkata,duringthelasttwo warehousing) introducedbyemerging floor loadwearingfacilities,multilevel bay, heightofplatform,scientificconstruction, change offacilities(loadingandunloading undergoing atransitionalphasewithsea arresting example.Traditionalwarehousesare appearance ofwhichwarehouseisan experienced revolutionarychangesin other industryalliedservices/facilitieshavealso Lease Rate(Land) Madhyam Gram BT Road Poilan Joka Jessore Road Kona Narendrapur Garia Behala Tollygunge Jadavpur Jodhpur Park Alipore (PrimeAreas) Salt Lake Ballygunge(Prime Areas) VIP Road Park Street Ballygunge (OtherAreas) Shyambazar Gariahat L ocation 125 170 150 R 10 10 15 10 10 25 40 60 45 25 90 45 80 ate (Rs./Cottah) 5 4 5 5 ------200Lacs 150Lacs 250Lacs 100Lacs 175Lacs 10Lacs 20Lacs 15Lacs 10Lacs 20Lacs 15Lacs 25Lacs 40Lacs 60Lacs 80Lacs 55Lacs 50Lacs 50Lacs 5Lacs 7Lacs 2 1 0 2
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T The city of joy has been gradually molding its construction has taken place in Kolkata.
A taste of shopping experience from old edge Analytically the problem lays in the fact that, retail rents have gone up in the city at a neck K bazaar to modern urban retail platform. Rent to neck level of the other metros but growth of L value of high street stores has risen by 10.0% to business volume remained low, resulting in 15.0% during the first half of 2012 as compared O supply side reluctance in market penetration. to last year. On the other side, mall leasing rate K However, flow of continuous enquiries about remained unchanged (only exception is retail spaces from leading retailers establishes forum and the change is also due to renewal glimpse of hope that the city is still under of agreement). On delving deeper, the scanner for future retail prospects. Adding fuel situation provokes more cautionary attention to the positive wind, small retailers are as during last 6 months no new mall expanding and forming their own brands. construction or planning for future They are also foraying more and more into organized retail format and increasing the pie of the same of the city.
Lease Rate (High Street) Significant Transactions (High Street) Location Rate (Rs./Sq.Ft.) Brand Size (Sq.Ft.) Location
CBD 200 - 350 Maruti 8000 New Alipore North Kolkata 70 - 170 Café Coffee Day 1300 Park Street South Kolkata 80 - 180 Prapti 1850 Lindsay Street East Kolkata 150 - 200 Mom N Me 3000 Camac Street New Town 50 - 90
Lease Rate (Mall) Significant Transactions (Mall)
Location Rate (Rs./Sq.Ft.) Company/Brand Size (Sq.Ft.) Location
South 130 - 350 Tommy Hilfiger 2000 South City North 80 - 100 Peter England 1000 South City Central (CBD) 250 - 450 Reliance Trends 16000 North City Salt Lake 120 - 300 Turtle 1200 City Centre New Town 60 - 150 Gesture 600 Avani E. M. Bypass 80 - 200
Upcoming Projects
Projects Location Developer Total Size(Sq.Ft.) No. of levels
Junction Mall Barasat Badrinath Infrastructure 1.5 Lacs B+G+5 Globe Lindsay Street Seven Star Enterprises 0.5 Lacs G+4 Megh Raj & Associates Konsortia Construction Where trust comes first Office A The office market in Kolkata has not seen much of CBD of Kolkata is end user driven. A number of T prosperity in terms of growth during recent times. office units like Woodburn Centre, PS Arcadia are
A Investment level during the first half of 2012 has coming up where local investors are taking possession. Supply scenario is slightly higher as shrunk approximately by 20.0% as compared to K compared to demand at Ruby/Topsia connector last quarter of 2011. Several global and national as it is still an under construction market. Rajarhat is L factors (economic slowdown, share market fall, another area which was expected to grow to lack of policy reforms) coupled with local open face of the city toward industrialization but O bottlenecks (land bill ambiguity, poor laid dormant. Though existing office spaces are nearly rented or occupied (also a significant K infrastructure) have jointly curtailed room for fresh amount of office spaces are still remaining as investment. IT/ITES, which is heart of the Kolkata inventory in hand of the investors due to lack of service sector, also witnessed sluggish growth entrance of new corporate bodies) but future during the same half. Adding to more concern, demand is gloomy. Supply is nearly stagnant as only the existing IT giants may increase their vicinity developers are reluctant due to no change in prevailing rate. Fundamentally, the industrial through expansion (TCS has invested at structure of Kolkata is service driven. The major end Eurospace) but chance of new entries is faint till users of office spaces constitutes of IT/ITES, BPO, 2013. Sector V is the preferred destination for office engineering consulting and other segments. As space to the companies due to improved service sector requires limited space to set up, a infrastructure, cluster of organizations, metro favorable policy roadmap and support at govt. level might create investors' interest. accessibility and 24*7 operational conveniences. Lease Rate Capital Value Location Rate (Rs./Sq.Ft.) Location Rate (Rs./Sq.Ft.)
Park Street 90 - 150 Park Street 15000 - 21000 Camac Street 80 - 150 Camac Street 15000 - 21000 A. J. C. Bose Rd. 90 - 130 A. J. C. Bose Rd. 12000 - 18000 Topsia 70 - 90 Topsia 8000 - 10000 Salt Lake 45 - 55 Salt Lake 4300 - 6000 Rajarhat 30 - 45 Rajarhat 3600 - 5000
Upcoming Projects Project Location Developer Total Size (Sq.Ft.) No. of levels
Biowonder Ruby Pasari Group 400000 G+19 South City Ruby SouthCity Project 275000 G+10 Infrastructure Tower Ideal Unique Science City Ideal Group 700000 B+G+27 Centre INIA Avior Realty Topsia 50366 2B+G+7
Significant Transactions Project Location Client Lease/Outright Size (Sq.Ft.)
Ecospace Rajarhat TCS 700000 Synthesis Rajarhat ISB&M 29352 INIA Topsia - 19500 Synthesis Rajarhat Coast Guard 45605 Synthesis Rajarhat Genius Consultants 11787 Infinity Benchmark Sector V Reacon 31907 Rene Kasba TATA Motors 33000 2 1 0 2
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N Residential | Retail | Office | Land A Residential showing keen interest in further penetration
M here at present. Bardhaman is leveraging as the closest A substitute to deal with the mounting population Office
H pressure of Kolkata. A considerable number of The city development authority of Bardhaman housing projects are either already D is engaged in the process of upgradation of accomplished or have been taking places here
R infrastructural facilities to create room for within a very short span of time. Future prospect entrance of industries. Setting up of Panagarh A of the city is also very bright with many new industrial park (over 1458 acres) at Panagarh is B projects in queue. expected to raise the bar of office space Retail demand. Presently there is only one shopping mall cum Land multiplex operational in Bardhaman. Apart Land is available at Bardhaman for potential from this there does not exist any fresh industry influx. The main challenge for the local development. Major retailers responsible for authority is to construct an effective policy emergence of cluster of organized retail are not
Residential Retail (High Street) Location Rate (Rs./Sq.Ft.) Location Rate (Rs./Sq.Ft.)
Ulhas More – East Zone 2700 Badamtala More 5200 Tikorhat – Central Zone 2300 Police Line Bazar 2400 Radhanagar Para – Central Zone 2900 Baro Bazar 3400 Police line More – East Zone 2500 Jail Khana More 3500 Renaissance – North Zone 1875 Land Location Rate (Rs./Cottah)
Office (Capital Values) Renaissance – Burdwan / Z PLOT 5.0 Lacs Location Rate (Rs./Sq.Ft.) Renaissance – commercial land 6.0 Lacs Ulhas More 6.0 Lacs Police Line 3000 Radhanagar Para 7.0 Lacs Jail Khana More 6200 Khosbagan 7.0 Lacs Badamtala More 5000 Bajepratappur 3.5 Lacs Parbirhata 3200 Policeline 4.0 Lacs Nilpur 4.0 Lacs Indrakanan 5.0 Lacs Upcoming Projects (Residential)
Project Location Developer Units
Ullhas Nandini Ullhas Kanai Panja - Ghar Biswanath Ghar St. Xaviers Road 85 Ramkrishna Burdwan Developers Telmarui 24
Significant Transaction (Commercial) Name of the Client Location Name of Project Lease/Outright Size (/Sq.Ft.)
Kidzee NH2-Nawabhat Renaissance (Lease)12427 Where trust comes
DURGAPUR first R Upcoming Projects(Residential) Office (CapitalValues) Upcoming Project(Retail) Residential witnessing unprecedenteddevelopmentof to attractorganizedretailinthecity.Durgapuris Growing populationisthemajordrivingfactor Retail across Residential projectshasbeendeveloping steep urbanizationandrapidmigration. aggressively penetratingthemarketdueto Local andnationalleveldevelopersare city asthehotspotforresidentialdestination. d Durgapur isfacingthebuzzofindustrial Residential e Eco Heights Link City P Benacity Bengal Sristi City Centre, City Centre,Suhatta v Sobhapur Link Road Bamunara Ara Durgapur Sation Bidhan Nagar City Centre Crosspace P L e e roject ocation l o L the p rojects s ocation m i e city n d t
due which iseventuallyturningthe e to n City Centre L upsurge ocation t i Dhulna PlotLinkRoad a 5000 8000 8000 R R ate (Rs./Sq.Ft.) ate (Rs./Sq.Ft.) of l City Centre
L demand. - - - ocation |
10000 10000 2700 2500 1600 1800 2600 3200 6000 R Name oftheClient e t Dominos a i Reacon Group and DevelopersPvt.Ltd. Pansas Builders l
Land Retail (HighStreet) Land pricehikeisanaturalphenomenonas Land locations. up pricebenchmarkofofficespacesatprime demand potentialisalsobrightenoughtopush begotten demandforofficespaces.Future manufacturing andserviceindustrieshave some agilepace.Concurrentdevelopmentsof Durgapur, BokaroandDhanbadhasshown The growthdynamicsofentireindustrialbelt Office entry and others)intherecenttimefollowedbybrisk malls (SuhattaMall,Dreamplex,Junction | CityCentre Bidhannagar LinkRoad
Bidhannagar Benacity City Centre O L Developer ocation of L ocation multi-national f f i L c ease /OutrightSize(/Sq.Ft.) e Rent (2240Sq.Ft.)
brands. |
R L ate (Rs./Cottah) 5000 5000 8000 R T ate (Rs./Sq.Ft.) otal Size(Sq.Ft.) 12.0 a 4.0 3.0 298080 n ------10000 - 14.0 Lacs 10.0 Lacs d 6000 6000 5.0 Lacs 2 1 0 2
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L Residential Retail Office Land
O Residential at Asansol.
S In West Bengal, residential property index wise Office Asansol stands strong as it is the second largest The city is strategically located within the N populated city after Kolkata. Since the last two shadow of Jharkhand which is currently among years, it remained as a trendsetter in switching
A the most happening states in the country in from plot purchase to project driven residential terms of industrial insurgency. Moreover, close S accommodation. Furthermore, government proximity to Durgapur which is developing very policy wise status upgradation of Asansol to A fast likely to create added significance of 'megacity' is currently on progress which Asansol to industrialists. However, no significant ensures boom of residential market. change in office space demand was realized Retail during last six to seven months. Only small office Asansol is gradually emerging as a retail spaces have some demand from local business. destination as it resides in the vicinity of a large Land hinterland (Burnpur, Kulti, Raniganj, Niyamatpur, Land usage in Asansol is spread across following Rupnarayanpur). Two new malls namely, areas, namely, agriculture, industry, railways Galaxy and Sentrum are already operational. and mining, keeping agriculture at top. The Retail is gradually taking an organized format. region is steadily changing its face from agro Leading retailers engaged in Business to based economy to industry driven economy. Business (B2B) model are keen to start operation With rising industrialization, demand for land is
Residential Land
Location Rate (Rs./Sq.Ft.) Location Rate (Rs./Cottah)
North Zone 1950 Kalipahari 3.5 Lacs (Apcar Garden, NH-2 Highway 2.5 Lacs West Apcar Garden) Near Sen Raliegh South Zone 1700 Cycle Factory ( S.B. Gorai Road) Asansol Interior areas 1.0 Lacs West Zone 1950 Near Damodar (Burnpur Road, Kumarpur) & Damra Village East Zone 1800 G. T. Road 14.0 Lacs (Godhuli Area, Nurrudin Road, Rambandhu, Murgasol, Kalyanpur Area 4.0 Lacs Durgamandir, Mohisila) Mahosila Area 5.0 Lacs Asansol Bazar Area 1850
Retail (High Street) Office (Capital Values)
Location Rate (Rs./Sq.Ft.) Location Rate (Rs./Sq.Ft.)
G. T. Road 4000 - 8500 Burnpur Road 2000 - 2200
Upcoming Projects (Residential) Project Location Developer Total Size (Sq.Ft.)
Shristinagar Sen Raliegh Rd. Bengal Shristi Infrastructure Ltd. 3888000 Sugam Park Kalyanpur Sugam Griha Nirman Pvt. Ltd. 1209600 Argha Apt. Vidyasagar Sarani Argha Infra Pvt. Ltd. 36000 Ganshyam Apt. Godhuli Road Nirbhay Infra Dev. Pvt. Ltd. - Saraswati Apt. Sarada Pally Kumarpur Om Developers - Where trust comes
RANCHI first R Office (CapitalValues) Residential Retail leading retailershavebeenventuringinthe retail expansioninthecity.Bigbrandsand capacity oftheresidentshaveboostedup Future growthpotentialandincreasingbuying Retail Act. due toprevailingChotanagpurTenancy(CNT) However, thereexistsasupplydemandgap development besideprivatedevelopers. playing pivotalroleinresidentialproperty intervention. TheJharkhandHousingBoardis from otherplacesandstategovernmentlevel prime statusintheeyesofinvestors),migration (Being thecapitalofJharkhand,Ranchienjoys towering highduetoinfluxofinvestments The residentialmarketinRanchihasbeen Residential Hatia Mohrabadi Bariatu Kanke Road Lalpur 3000 Circular Road Main Road Circular Road Main Road Kanke Road Kanke Road L L L e ocation ocation ocation (High Street) s i d e n t i a R R R ate (Rs./Sq.Ft.) ate (Rs./Sq.Ft.) ate (Rs./Sq.Ft.) 1700 1800 2200 3000 3000 3500 6000 l
| 10000 - - - - - 6000 5000 - - -
R 2400 2600 3000 3500 4000 5000 5000 8000 e t a i l
Land Warehouse (LeaseRate) Expansion ofretailhasaugmentedimportance cautionary signalsforfuturelandbuyers. land transferandexistenceofCNTactare land ratesarehigh.However,illegalKoderma Lalpur arethemostprominentzoneswhere development inRanchi.KankeRoadand Demand forlandisinevitableduetoindustrial Land andwarehouse influx anddemandforofficespaces. Development ofSEZalsocatalyzesindustry demand forcommercialofficeplaces. industrialization furtherconstitutesaugmented industries inRanchi.Rippleeffectof infrastructure areinstrumentaltoattractmajor development ofpublicamenitiesand Educated andskilledhumanresources,sharp Office restaurants) isalsoonrise. stores andmalls.Hospitalitysector(hotels market viaopeningofhighstreetstandalone | Tata Road Bariatu Ratu Road Tupudana Kokar Namkum Morabadi Harmu Ratu Road Lalpur Kanke Road
L L ocation ocation O f f i c e
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L R R ate (Rs./Cottah) ate (Rs./Sq.Ft.) a n 12.0 Lacs 35.0 Lacs 27.0 Lacs d 5.0 Lacs 8.0 Lacs 8.0 Lacs 10 12 15 7 6 2 1 0 2
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Upcoming Projects (Residential) Project Location Developer Total Size (Sq.Ft.)
Arsh Heights Doranda Acme Constructions 140000 Twin Tower Ashok Nagar Global Developers 210000 Sriram Krishna Enclave Morabadi Sriram Constructions 180000 Ratan Heights Morabadi Vardaan Builders 140000 Green City Argora Jaishree Developers 550000
Upcoming Projects (Retail)
Project Location Developer Total Size (Sq.Ft.)
Mall Dcore Lalpur Vardaan Builders 350000 Shopping Mall Ashok Nagar Jaishree Developers 280000
Upcoming Projects (Office) Project Location Developer Total Size (Sq.Ft.)
Satya Ganga Main Road Satya Ganga Developers 38000 Vasundhara Business Park Doranda Vasundhara Developers 75000 Mega Mart Harmu By Pass Vasundhara Developers 20000
Spring City, Ranchi Where trust comes first
R Residential | Retail | Office | Land U
P Residential construction at Bistupur. Demand for high street D Essence of the residential market in shops also gaining momentum, thanks to entry E Jamshedpur clusters around demand for low to of major retailers and international brands. H middle valued properties. Such piquancy could Favorable destinations of them in this regard S be attributed to CNT act bottleneck, are prime zones of the city, namely, Sakchi and Bistupur.
M unavailability of bank loan due to leasing nature of land and preponderance of major A Office
J league end users are primarily TATA employees Few years back, Jamshedpur was at the zenith and subsequently accommodated by the of demand for office spaces as supply company itself. Demand is unfaltering in the city belt area of Adityapur, Mangoe, Purdy and remained minimal. However, in last six to seven other areas. However, profound land scarcity months, there exists little demand for office has reason to proliferate residential demand if spaces. Sale is mainly investor driven. Slow the government instigates change in land act. demand is ramification of uncertainty over future entry of industries. Retail Land It would be of no surprise if retail becomes a cornerstone benefactor towards growth of CNT bottleneck has curbed land demand of Jamshedpur. Two consecutive malls are under Jamshedpur. Organized warehouse is nonexistent and demand for warehouse is also limited. Industry growth might drive some Office (Capital values)
Location Rate (Rs./Sq.Ft.) Residential Bistupur Main Road 60 - 85 Location Rate (Rs./Sq.Ft.) Bistupur Market 35 - 60 Sakchi 38 - 70 Mango 1400 - 2191 Adityapur 30 - 45 Sonari 3000 - 3500 Adityapur 1700 - 2800 Baridih 2350 - 3200 Land Circuit House Area 8000 - 10000 Location Rate (Rs./Cottah)
Adityapur 1 6– 18 Lacs Sonari 26– 40 Lacs Retail (High Street) Bagbera 4-10 Lacs Location Rate (Rs./Sq.Ft.) Kadma 9-25 Lacs Golmuri/Agrico 11-28 Lacs Bistupur Main Road 150 - 240 Baridih 6–18 Lacs Bistupur Market 50 - 80 Sakchi 90 - 200 Adityapur 55 - 90 Retail (Mall) Golmuri 50 - 100 Location Rate (Rs./Sq.Ft.) Jugsalai & Station Road 80 - 120 Bistupur Main Road 100 - 160 Sakchi 80 - 120 Marine Drive Sonari 35 - 70
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Ongoing Projects (Residential)
Project Location Developer Total Size (Sq.Ft.)
Sunderban Phase-1 NH -33, Jamshedpur Samay Construction Pvt. Ltd. 108000
Sunderban Phase-2 Near Chepa Pul , Samay Construction Pvt. Ltd. 43200 Mango Jamshedpur
Vasundhara Estate Near Irrigation Colony , Vasundhara Homes 604800 North of NH-33, Jamshedpur
Ashiana Brahmananda Ashiana Housing Tamolia, Jamshedpur 475200
Vijaya Garden Vijaya Homes Baridih, Jamshedpur 691200
Astha Twin City Baridih & Aastha Developers Pvt. Ltd. 2592000 Telco Jamshedpur
Ongoing Projects (Retail) Project Location Developer Total Size (Sq.Ft.) Centenary Mall Opposite Ginger Hotel, Bistupur Forum Projects Pvt. Ltd. 650000
Bindal Mall Marine Drive, Near CH Area Bindal Buildcon 160000
Marine Plaza Marine Drive, Near CH Area Ashiana Housing 80000
City Centre Bistupur-Kandra Road, P&M and Hitech 450000 Besides Centenary Mall projects Pvt. Ltd.
Ongoing Projects (Office) Project Location Developer Total Size (Sq.Ft.) Centenary Mall Beside Voltas House, Bistupur Forum Projects Pvt. Ltd. 250000
Bindal Mall Marine Drive, Near CH Area Bindal Buildcon 100000
City Centre Bistupur-Kandra Road, P&M and Hitech 45000 Besides Centenary Mall projects Pvt. Ltd.
Bindal Mall, Jamshedpur
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BHUBANESWAR first R Upcoming Projects(Office) Upcoming Projects(Residential) earlier butduetostagnancyinterestamong future ITgrowth,someretailerscamehere major retailzonesofthearea.Inassumption construction. ShahidNagarandJanpathare high streetasnonewmallsareunder Bhubaneswar. Focusareaofretailersarestillon Currently threemallsareoperationalin Retail very budgeted flatsaretherebutsupplywisenot is inthestateofoversupply.Demandfor end residentialmarketisalreadysaturatedand economic policyinlastmonthsof2012.High rejuvenated ondeclarationofgovernment seems tobeimprovingwhichmayfurtherget However, fromJune2012onwardsthesituation declined duringthelastsixtoeightmonths. The residentialmarketofBhubaneswar Residential Utkal Vatika P Forum Safari South GateAvenue Krishna Plaza Gati KrushnaGreen Z1 Yet tobenamed Spring City Neo City Heritage Urbana roject e promising. P s roject i d e n t i a Retail (HighStreet) Jayadev BihartoBaramundaRoad Rasulgarh toAcharyaBiharRoad Nadan KananRoad Chandra Shekharpur, Jayadev Bihar Janpath l L ocation
| Rasulgarh Square Jayadev Bihar L
ocation R Jharpada L Kantilo, Sundarpada IRC Village,Nayapalli Ranga Bazar Patia, Raghunathpur Kanatabada Cuttack N.H. Hirapur e ocation t a i l
R model. are thereunderPublicPrivatePartnership(PPP) on leasingtoinvestorsandsomedevelopments However, governmentisopentoprovideland hassle freelandfromrestoftheprivateproperty. state government.Itisdifficulttogetclear, approximately 80.0%landisinthehandof Land acquisitionisabigconcernas Land slow, whichmightaugmentfutureprospect. sharp demandincrease.Growthisgradualbut have yetnotinvadedtocreatethegroundfor few officespaces,however,majorindustries Unitech andupcomingForumareofferinga as ITbasedgrowthdidnottakesteeprise. Office spacedemandinBhubaneswarisslow Office retailers diminished. | ate (Rs./Sq.Ft.)
O f f 100 75 70 70 80 i c e T otal Size(Sq.Ft.)
|
585000 600000 L 1085 1560 3500 Units a 232 109 131 600 712 n d 2 1 0 2
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I Residential | Retail | Office | Land T
A Residential two important factors in its retail development. G. S. Road is the most sought after retail zone.
H During the first half of 2012, the residential Retail space price is also very high in the city. property market in Guwahati has witnessed a A Major retailers in B2B model are seeking to enter stable price hike by 12.0%-15.0% while in its retail arena. Two projects are already in
W residential construction rose by 15.0%-20.0%. pipeline, which further broadens scope of However, on sustainability concern, Guwahati U retailing. requires to develop a steady set of end users G rather than flying buyers with short time profit Office objective. Moreover, if Floor Area Ratio (FAR) is Guwahati is an important metropolis as it is reduced by Guwahati Metropolitan considered as the gateway to North-East Development Authority (GMDA) through corridor. Under sustainable development plan, forthcoming change in by-law by end of July state government is engaged in process of 2012, already purchased land holders will suffer basic infrastructure development to disperse cost disadvantage ceteris paribus. industrial prosperity beyond agriculture and oil based economy. As a result, demand for office Retail spaces are expected to evolve in future. Although Guwahati is a Tier-III city, still it is in the top priority list of big retailers after Kolkata. Land Gateway of North-East corridor and city culture Inflow of commercial and residential projects is inclined towards western lifestyle, remained expected to catalyze land demand and price.
Residential Retail (High Street)
Location Rate (Rs./Sq.Ft.) Location Rate (Rs./Sq.Ft.)
G. S. Road 3500 - 4500 G. S. Road 8000 -10000 NH- 37 By pass 2500 - 3800 Zoo Road 7000 - 8000 VIP Road 2400 - 3800 Beltola road 5000 - 6000 Airport Road 2100 - 2500 R. G. Baruah Road 3500 - 4500 Kharguli, Uzanazar 3500 - 4000 Beltola Road 2600 - 3200 Office (Capital Values) Location Rate (Rs./Sq.Ft.)
Land G.S Road 5500 - 6500 Location Rate (Rs./Cottah) Zoo Road 4000 - 4500 Beltola Road 3500 - 4000 G. S. Road 100 - 200 Lacs Zoo Road 80 - 90 Lacs Beltola Road 40 - 50 Lacs VIP Road 35 - 40 Lacs NH-37 Bypass 30 - 40 Lacs Airport Road 12 - 15 Lacs Where trust comes first
Upcoming Projects (Residential)
Project Location Developer Total Size (Sq.Ft.)
Paramount Grandure NH-37(Bypass) Paramount Developers 2.90 Lacs Protect Heritage Zoo Narengi Road Protect Buildcon 0.95 Lacs Shine 7 sisters Azara, Rani Road Shine Realtors 4.65 Lacs Larica Green Valley Dharapur, Airport Road Larika Estates 5.22 Lacs Infinity Heigths Kalapahar Infinity infotech 4.35 Lacs
Upcoming Projects-Commercial
Project Location Developer Total Size (Sq.Ft.)
Rudraksh G. S. Road Royal Circle Graden & Resorts Pvt. Ltd. 1.72 Lacs Prithvi Planet G. S. Road Prithvi Nirman Pvt. Ltd. 0.60 Lacs Achyut Plaza G. S. Road - 0.30 Lacs J. K. Heritage G. S. Road - 0.40 Lacs
Ideal Hill View, Guwahati
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d East India Real Estate Market Report i M
The Changing Landscape "The darkest hour is just before the dawn" -Thomas Muller (1650)
Real estate industry in India is undergoing a significant transformation in the recent era. The salient feature of this underlying change is that the industry is gradually becoming more organized in nature due to mounting institutional capital inflow as against early convoluted structure of non- formal financing, dominance of a few regional players and low level of expertise. The changing scenario has also brought up some transparency in the system which has garnered interest of the consumers across different verticals. Economic liberalization has opened unprecedented scope in front of real estate developers as development of industries, utility services (schools, hospitals), retail, hospitality (resorts, restaurants, hotels), Information Technology/Information Technology Enabled Services (IT/ITES), entertainment (movie theatres) and residential (housing complexes) have created large scale demand for land and properties. However, room for complacency of the industry diminished considerably since beginning of 2012 as an aftermath of ominous economic downturn of the country. A sluggish GDP growth rate of merely 5.3% and cautionary investment situation siphoned off large FDI from Indian market. Sheer volume of liquidity crunch caused dismissal of many industrial and residential projects leading to predicament for real estate industry. Fortunately, reversal of the situation is heavily depended on the industry as in India real estate constitutes a cumbersome contribution toward GDP. Any exigency reform taken at the ministerial level shall either directly or indirectly benefit the industry. In addition to that, roadmap to overcome prevailing recession is only laying in future development
19 N.K. Realtors (P) Ltd. 9 Elgin Road (4th Floor), Kolkata - 700 020, India Tel: +91 33 40401030 REALTORS Fax: +91 33 40401040 Where trust comes first Web: www.nkrealtors.com
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