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A SHIFT IN REAL ESTATE EXPECTED IN 2019 – TOPROPMART

The developers are likely to use the existing inventory rather than launch new projects as they tussle with RERA Act and GST. Due to the NBFC crisis, there will be a liquidity problem to continue. But there are some new trend to be expected in this year. The affordable housing segment is expected to grow both from supply and demand side due to Government incentives for both developers and buyers. The Government has expanded the benefits of a subsidy scheme on home loans under the Pradhan Mantri Awas Yojana till March 2020. A subsidy of upto Rs 2.67 lakhs can be availed on home loans by buyers. This year will turn out be another push towards the development of housing segment.

Co-living is the concept which has been emerging due to people preferring to stay with someone, especially students and professionals. Co-living area includes private rooms with a shared kitchen and a living area. But this option is majorly available in metro cities like Mumbai, Bengaluru, Pune, Delhi. This concept has however expanded to tier II cities like Jaipur and Lucknow. There are many startups operating in this space like Oyo living, Ziffy homes, StayAbode, SimplyGuest, RentMyStay, Zolo and many more. According to some experts, Real Estate Investment Trust will be launched in this year. The Government removed many hurdles after it was first launched in 2008. Government is thinking to bring some modifications for the ease of investors in the REIT policy.

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HOW TO INVEST IN REAL ESTATE WITHOUT BUYING PROPERTIES

The trend in real estate has evolved with time. To fetch high returns on investment people are investing in commercial properties. Earlier people used to invest only in residential spaces but now it has changed. To get assured rental income people are not investing in just one commercial project but in several small budget projects. Virtual space is the talk of town now. Virtual space investment means the space being registered in investor’s name but he does not have its physical ownership. The biggest benefit here is that the investor does not have to think about maintenance of the owned space. After completion of its construction, the owner starts getting its rent. Virtual space is actually an office space which is rented out to different buyers. At any point of time the investor is free to sell the property. It offers varied use of commercial development like restaurants,food courts, offices, rentals, spa. There is a better growth of return in such investment.

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PERKS OF INVESTING IN LUCKNOW

PERKS OF INVESTING IN THE CITY OF NAWABS

The city of Nawabs, Lucknow has developed tremendously in all areas especially in real estate sector. There are various reasons why one should one invest in this city. The Town and Country Planning has estimated that approximately 197 villages will be brought under the Master Plan 2021. So it is speculated that many residential properties will be developed in these locations. Faizabad road, Sultanpur, Raebareli road will not be far behind when it comes to commercial properties. An approval has been done by LDA for the construction of 150 metre wide ring road to popularise private projects in the city. There will also be a development of Knowledge park between Mohan road and Jail road having higher education and coaching institutions in its vicinity. The development of metro in the city will be an impetus for the growth of real estate corridor. This will surely prove to be beneficial for the public. Various townships and IT city spread over an area of 100 acres is being developed by ACL technologies. Lucknow comes second in the list of Smart cities given by the Centre. Assistance and funds will be provided by the Centre. Multi speciality hospitals are being set up in the city which makes it a medical tourism spot. These were some of the perks to invest in the city.

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CO-WORKING SPACES: A NEW TREND IN THE INDIAN MARKET

A joint report by JLL and Confederation of Indian Industry said that net absorption in commercial segment is expected to exceed 39 mn sq ft by 2020. There has been a huge demand for co-working spaces in the recent times and few reports highlights that absorption by service providers is tripled to 3.44 mn sq ft in the period January-September 2018. In the year 2017, the co-working space was 1.1 mn sq ft. The co-working sector has doubled to 10%. According to the report vacancy declined to 13.7% in the period July- September 2018. The office sector will gradually come down in the mid term (2018-2020). Companies in the industrial segment in the cities like Bengaluru, Delhi-NCR, Chennai have been showing keen interest in office spaces. Mumbai and Pune are no far behind. But interest has been shown more for the co-working spaces. The share of co-working sector went up from 4% to 10% from last year. According to Ramesh Nair, CEO and Country Head, JLL India, the preference for co-working spaces will rise substantially in the coming years, especially in the cities Bengaluru, Mumbai due to availability of infrastructure and a startup culture. Tier II and tier III markets will also catch up soon.

The report states that large demands for co-working comes from big corporates(40-45%), then comes small-medium enterprises(35-40%), the last being start-ups(15-25%). The co-working spaces helps in cost reduction by 25% in cities like Delhi-NCR, Bengaluru, Mumbai and Pune. According to Sandeep Sethi, MD, Integrated Facilities Management- West Asia, JLL India, the commercial real estate will have to buckle up to match the technology disruptions affecting the way companies are conducting their businesses globally. FinTech startups have promoted low cost office spaces with modern technology infrastructure. E-commerce players are also considering co-working spaces now for cost savings. The new standard of holistic Wellness for office buildings is gaining momentum. The concept aims to address the wellness of employees at workplace.

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