Announcement

Collapse
No announcement yet.

How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

Collapse
X
Collapse

How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

Last updated: 2 weeks ago
164 | Posts
  • Time
  • Show
Clear All
new posts

  • Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

    India's corporate real estate occupiers confident about COVID-19 recovery

    At least nine in ten leaders polled by JLL believe their organizations and employees will help successfully mitigate the impact of COVID-19 on their businesses.
    BENGALURU: Corporate real estate (CRE) leaders in the India are optimistic about their business and recovery plans despite impact from the ongoing pandemic.

    At least nine in ten leaders polled by JLL believe their organizations and employees will help successfully mitigate the impact of COVID-19 on their businesses.

    “As the corporate sector prepares for the next normal amidst the pandemic, the elevated confidence of the CRE leaders suggests immense opportunities as we redefine the future of the office. Approximately 70% of Indian CRE leaders surveyed have expressed optimism about the future of their business. Not just that, over 90% of Indian CRE leaders are confident of their own business / recovery plan to mitigate impact of COVID-19.” said Sandeep Sethi, Managing Director- Corporate Solutions (West Asia), JLL.

    CRE leaders are also (re)imagining the new modern office, with a focus on prioritizing the health and wellness of employees, as well as leveraging technology in their investment plans, said the report by JLL. Concurrently, most polled CRE leaders in India expect total footprint and number of sites that they maintain to remain the same or even increase.

    More than two-third of CRE leaders have shown optimism about the future state of their business. While 93% of APAC leaders stated that they own business recovery plan to mitigate impact of COVID-19, 91% of Indian leaders have expressed the same, the survey mentioned.

    “They have a clear view of what they must do next to make the next generation of workspaces healthy and safe and enable their on-site and remote teams to collaborate and be productive. We anticipate CRE leaders to factor these into the next phase of their decision making,” he added.

    Some de-densification of portfolio is expected by reducing the numbers of seats. While in APAC before the pandemic the number of desks per 100 staff stood at 91, post pandemic, it is will be at 82. In India, the number is expected to be 85 post-pandemic from 94 before the pandemic.

    ”Around 88% of Indian leaders are ready to cope with the current crisis and step into a new business reality compared to 90% in APAC. 70% of the Indian leaders are likely to adopt Proptech solutions to respond and adapt to new requirements arising out of COVID crisis, ” the survey said.

    Expansion of remote working policy is expected by both technology and banking sector CRE. Increase in virtual meetings and rotational staff arrangement is being adopted widely. In the future, CRE is set to actively invest in technologies that optimizes productivity and collaboration among on-site and remote workforces.













    https://realty.economictimes.indiati...overy/78234586


    Please read IREF rules | FAQ's

    Comment


    • Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

      Originally posted by Malvish View Post
      The government has proposed a Model Tenancy Law, which will be a bold move that will help change the perspectives of the rental housing industry, and help address several existing issues.
      Model tenancy law is good but what we need to change here is the mindset of people and that "landlord is above a tenant" mindset first. There is still a lot of exploitation of tenants happening at every level. The mindset is the problem.

      Comment


      • Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

        As per officials at the stamps and registration department, the daily transactions in the state have increased to 10,000 from the earlier figure of 6,000 to 7,000, owing to the reduction in stamp duty charges.
        Talk TRUE; Talk IREF

        Comment


        • Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

          To attract property buyers, the Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has requested the UP state government to reduce the stamp duty on property registration by 2%. Also, it has requested that the registration fee for agreement-to-sale documents, currently at 25% of the stamp duty charges, should be cut down to Rs 2,000.
          Talk TRUE; Talk IREF

          Comment


          • Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

            In a not so surprising revelation, CREDAI and the Indian Institute of Architects-Goa, shared that it was owing to the high amount of corruption and related delays in approvals, that the real estate sector was in doldrums in the state.
            Last edited September 28 2020, 04:12 PM.
            Talk TRUE; Talk IREF

            Comment


            • Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

              Gurugram: Covid restrictions derail upkeep of societies, residents go to DTCP

              Last year, DTCP had announced that it will hold monthly meetings and resolve complaints filed by hundreds of families living in licensed colonies and housing societies in the city.

              https://www.indianrealestateforum.co...78#post2685678
              Please read IREF rules | FAQ's

              Comment


              • Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

                As per JLL, the housing sales had been up by 34% in July-September and the percentage of unsold inventory had been marginally down. Also, Mumbai had accounted for 29 percent of the total sales in the quarter and Delhi-NCR for 22 percent.
                Talk TRUE; Talk IREF

                Comment


                • Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

                  Originally posted by Malvish View Post
                  As per JLL, the housing sales had been up by 34% in July-September and the percentage of unsold inventory had been marginally down. Also, Mumbai had accounted for 29 percent of the total sales in the quarter and Delhi-NCR for 22 percent.
                  I wonder where these orgaisations get their statistics from - they look like on desk reports (made while sitting inside their plush offices with a hot cup of tea or martini). On grassroot level, nobody is buying naything as far as I know. Real estate is in a bad condition. So, the 34% upward sales numbers looks like statistical glitch or deliberate news feeding to create a situation where reluctant home buyers are mad to think that the market is coming back in action and they might miss on some great buying opportunities if they wait for a longer period.

                  Real estate is not moving upward in the real sense and if someone says it is, it is just a fake sentiment booster.

                  Comment


                  • Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

                    Originally posted by movedin View Post

                    I wonder where these orgaisations get their statistics from - they look like on desk reports (made while sitting inside their plush offices with a hot cup of tea or martini). On grassroot level, nobody is buying naything as far as I know. Real estate is in a bad condition. So, the 34% upward sales numbers looks like statistical glitch or deliberate news feeding to create a situation where reluctant home buyers are mad to think that the market is coming back in action and they might miss on some great buying opportunities if they wait for a longer period.

                    Real estate is not moving upward in the real sense and if someone says it is, it is just a fake sentiment booster.
                    this is all in their Virtual world not reality... "Khaali Dimag Shaitaan ka Ghar" basically shaitaan are desperate builders who pay these companies like JLL to spread wrong awareness.

                    Comment


                    • Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

                      Surprisingly, while the world economy faces one of the worst periods, housing prices have been picking up at an annual rate of 5% in some middle-and high-income countries around the world.
                      Talk TRUE; Talk IREF

                      Comment

                      Tags: None
                      Have any questions or thoughts about this?
                      Working...
                      X