In good times, these foreign investments not only helped the real estate market but also the economy. In fact, as per the report by Cushman & Wakefield, the Indian real estate market is expected to touch 180 billion dollars by 2020 with around 40 percent of the growth coming from the tier 1 cities like Delhi NCR, Pune etc.
Which area is on the top most growing markets in India? We will on the commercial and residential spaces that have gained popularity and generated promising returns.
Commercial/Office
The net absorption rate, which is simply the change in physically occupied space between the current measurement period and the last measurement period, was up 58% in 2014 Q1 compared to the same period last year. This is with regard to the top eight real estate markets in India. As per the report by Cushman & Wakefield, Ahmedabad and Delhi- NCR recorded a 300% increase in demand for office space over the last three years. Hence, if we talk about the change in net absorption by the top cities, Ahmedabad and Delhi- NCR come right at the top.
Residential
Similarly, this year, if we look at the major markets, Mumbai Delhi-NCR and Pune are the top three. However, during the early part of this year, Bangalore clocked an increase of 22% with regard to the number of units launched. Overall, the number of new launches in the residential segment during the first quarter of 2014 increased by 43%. Apart from Bangalore, Mumbai and Chennai are the next two markets with the maximum increase.
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