3 Oct, 2007, Economic times

Hinjewadi and Manesar are among the 17 corridors which are poised to emerge as new centres for real estate investment as limited land and high property prices in metros have driven developers to look for alternate locations, a report said.

"Hinjewadi (near Pune) and Manesar (near Gurgaon) emerge as the highest rankers on all parameters and are poised to be prominent locations with promising prospects due to relatively strengthened real estate dynamicas and favourable policies," Cushman and Wakefield- GRI Real Estate Investment Report said in a report which was released today.

These two locations would also receive a boost from the neighbouring mature markets, namely Pune and Gurgaon respectively, it added.

"Overburdened infrastructure, rising real estate and operational costs, limited availability of large land parcels - all have driven corporates and developers to seek alternate locations within their periphery," C&W India Deputy Managing Directors Sanjay Dutt and Anurag Mathur said.

According to the report, the other new destinations include GST, Sriperembudur, Shamshabad, Panvel, Virar, Greater Noida, Rajarhat, Devanhalli, Chakan, Khadadi (Pune), Kokapet (Hyderabad), Bidadi (Karnataka), Thane (Mumbai), Bantala and Tumkur Road.

The corridors are rated according to three broad parameters - sustainability, momentum and economic environment - on the basis of a multi variable analysis.

The grading of the locations depicts the scale of opportunities within these emerging corridors, which would allow the investors to gauge their location preference according to their risk appetite, the report said.

So friends, what are you waiting for....Make Hay while the sun shines.:)
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