Commercial Office Space - Best Performing Real Estate Segment

The 2019year was the best performing year for the Commercial Office Space segment, reported by Knight Frank India in its 10th edition half-yearly report. It gave a comprehensive analysis for a period July-December 2019 on India's commercial real estate market performance across its major cities - Mumbai, NCR-Delhi, Hyderabad, Bengaluru, Chennai, Ahmedabad, and Pune.

It reported that the market grew by a record high of 12% y-o-y for the full 2018 year and has achieved the transaction volumes of 46.8 million sq ft, which is the highest in the Indian office space market of this decade.

Bengaluru is the leading the office space market, with a record 7.6 million sq ft leasing in a full 2018 year. Hyderabad too, saw the highest percentage increase in space transacted i.e. at 30%. This has been close to large markets like as Pune, Mumbai and NCR.

The major contributor to this growth has been the Co-working Spaces. The leasing activity by co-working spaces saw a significant rise of 52% y-o-y in 2018(June-December) as compared to the same period in 2017.

Hyderabad Office Absorption: An Insight

Strong traction in Hyderabad’s commercial space is specifically witnessed in the office space segment. By the end of the 2018 year, Hyderabad saw the absorption of 6.40 million sq. ft office space across the city, which is around 18% higher than last year.

Deals greater than 10,00,000 sq. ft constituted 70% of total leasing activity in Q3 2018, which was 30% higher than Q2 2018, this indicates the rising occupier confidence in Hyderabad’s flourishing market.

This has been majorly contributed by tech giants like Facebook, Accenture, CoWrks among many other companies.

The IT/ITeS sector is expected to stay dominant over the next three years (2019-2021). The pharmaceutical and biotechnology sectors are also likely to perform well with the kind of positive initiatives taken by the government.

Hyderabad is expected to deliver office space of about 70 million sq. ft in the city's western part, in the next 5 years.

A leading global investment consultancy asserted that there has been a surge in the demand for office as well as residential spaces in the city. Various new project launches have been seen in the October-December period of last year.

Growth Factors for Office Segment:

1. Co-working Spaces

Apart from the IT/ITes sector and manufacturing companies, considerable demand for office spaces also came from co-working space operators. With this huge demand for offices, areas like Madhapur and Gachibowli, it has seen an upward trend in rentals by nearly 5-7% on a y-o-y basis.

2. Favourable Investment Climate

The rise in property and rental rates is due to the expansion taken-up by several companies and the favourable investment climate seen in the west zone of the city. Out of the total new launches in the city, over 70% share belonged to the western region of the city.

A majority of the new real estate project launches were in the locations such as Manikonda and Kondapur flats, which have gained prominence as a residential neighborhood because of proximity to various employment hubs.

Similar new launches were also seen in north-western peripheral locations of city - Kukatpally, and Bachupally.

3. Better Employment Prospects

Vacancy levels as low as 4% in Hyderabad city, is pushing the rentals higher in this strategically located micro-market comprising - Hitech City, Madhapur, Financial District Raidurg and its surrounding areas.

4. New Market Areas are Rising

The peripheral business district micro-market, comprising of Pocharam, Uppaland, and Shamshabad, is catering to occupiers looking for new Grade A facilities and IT parks. The low supply and high demand in this micro-market resulted in a y-o-y rental increase of 9.1% in Q4 2018.

Plan to Meet the Needs of Future

Real estate experts assert that in the future, the western part of the city will be more populous and expected to add over 60% of the existing population. To avoid more chaotic situation more infrastructure, both physical (roads, water supply, drainage, etc.) and social (education, health, shopping, security, etc.), will be required to develop to balance the population explosion.  

With the announcement of the formulation of a Comprehensive Plan by the Telangana state government, to convert Hyderabad city into a truly global.

This Comprehensive Plan will be designed to meet the future needs of the growing city - population explosion, congestion, traffic issues, drainage, transportation and reducing green cover.

Conclusion:

Keeping these developments in mind, it is expected that the office space occupancy demand to remain strong, along with the support of the upcoming supply over the next three years. This will also help in pushing the average city rents by 2.3% over 2018-2021. This concludes that the future prospects of Hyderabad city are looking bright and the present time can be considered as the best time for investment in this segment - Commercial and Office space.Proppick is one of Best Property Portal in Hyderabad

The main entrance door is the foremost passage which creates life in a home. It is the transition zone through which people enter the home from the outer world. It's placed from where positive energy, happiness, and good luck enters the home.

Due to this reason the main entrance door should be positioned in such a way where it can activate the most beneficial cosmic energy that promotes health, wealth and harmony for the inhabitants.

There are various aspects that you have to keep in mind before the placement of the main door for your house during the construction phase. We are presenting you some important tips that can help you to position your main entrance door as per Vastu Shastra for your house.

1. The direction of the Main Door

The main door should always be placed in the North, North-East, East or West directions of the home as they are considered auspicious. The door should be placed in the center of the wall, away from the corners of the wall.

If the door is placed in the North East or East directions of the house, it will allow an ample amount of sunlight in the morning which is good for health. Avoid placing the main door in the south-west corner touching sides, as it allows harmful UV rays to enter your home.

2. Mind Main Door of Opposite home

Do not place your main door to the opposite home's main door. This is to avoid unnecessary show up of your house when both doors are open.

3. Watch for Abandoned house location

Avoid placing your main door towards an abandoned/ deserted house or building as this can create negative energy flowing into your house. Also, you will feel scary sometimes or negative thoughts will come into your mind whenever you open your main door.

4. Size of the Door

Size of the main door should always be bigger than any other door in the house. The bigger size allows easy movement of furniture or electronic items through the door. Avoid having three doors in a line, parallel to the main door as it is considered as a serious Vastu defect and can affect the happiness in the home.

5. Main Door Material     

Wood material is considered as most auspicious material for the main door. It is believed that wood absorbs negative vibes and allows only positive energy to pass through it. The door should be strong and sturdy without any cracks or damages.

You can use some combination of metal materials with the wood depending on the direction of the main door viz.

• Northern main door: You can use more of silver color.

• Eastern main door: The wooden door can be adorned with limited metal accessories.

• Western main door: It should possess metal work.

• Southern main door: A combination of wood and metal is good.

6. Main Entrance Gate Location

Keep the main entrance gate and main entrance door on the same side of the independent house. Vastu Shastra does not consider it auspicious to have both in the opposite direction as it causes inconvenience to the guests.

7. Location of Underground Tanks

Do not have an underground water tank and septic tanks under the main entrance door, especially in independent houses. The reason behind this is during cleaning of these tanks, it will be of great inconvenience to the family members, as all things will be done right in front of the main door.

8. Look of the Main Door

A clean main entrance attracts positive energy. Avoid keeping broken furniture, dustbins or unused items near the main door. The surroundings of the main door should be clean and have adequate light. Try to have an artistically designed main door. You can decorate it with divine symbols like Swastik, Om, cross, etc. depending on your choice. The main entrance should exude warm welcome to everybody entering your home. Place beautiful green plants at the entrance, if there's a place.

9. The opening of the Main door

The main entrance door must open at 90 degrees, without any obstacle in the way. It should be opened inside in a clockwise direction without making any creaking noise (while opening or closing the door). Ensure that all hinges are oiled regularly, screws are not missing, accessories are polished and extra nails are removed.

10. Put a Name Plate

Put a nice nameplate at the entrance. If the door is in the North or West direction - Metal nameplate is recommended. And if the main door is in the East or South direction - Wooden nameplate is recommended.

11. Corner main doors

Avoid the corners of the wall while placing the main doors of the house. The main door should be placed a few feet away from any corners. It is best in the interest of the inhabitants.

12. Count of Doors and Windows

The total numbers of doors and windows should always be even in the house.

Wrapping Up

Buy a flat, villa or independent house, keeping in mind with correct vastu for the main entrance door. If you need some guidance from vastu experts for your residential or commercial property, then you can avail our service, any time.

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We all work hard to have a comfortable and financially secured future. This has become absolutely important to think, in present times where everybody wants to live leisurely and independently.

Senior citizens are now discovering the joys of retirement in second homes also called as Retirement Homes that offer several comforts and facilities, required at that age.

Earlier, Retirement Homes - a foreign concept, was looked upon with disdain but with time, this concept is gaining greater acceptance in India, too. The reason is obvious, small families, children working in distant places or living away from parents.

Children of elderly alone parents, look for safer living locations for their parents, where all daily needs, specific amenities (old age related) and basic medical care are perfectly taken care of.

Indian Market for Senior Citizen Homes

According to JLL analysis, there are 135 towns and urban cities in India, with a total of 52 million households, there exists a total of 12.8 million households with senior citizens. Presently, there is a large gap between potential customers and customers who are aware of their requirement.

Although there is a nationwide requirement for senior citizen housing projects, south India seems to be the largest market. Among all states, Tamil Nadu has the largest percentage of senior citizens with high per capita income.

Major realty developers are providing completely secured and quality retirement residential properties, farther from noisy urban cities to give a quiet and serene atmosphere to old age people. Cities like Hyderabad, Bengaluru, Chennai, Kanchipuram are popular locations for retirement housing in south India.

Investment in Retirement Homes can be

A post-retirement second home is no longer ‘just a nice place to live’, but it place where same age group people can lead their quality lives – respectfully without depending on others.

Guide for Retirement Homes Investment

The best age to start investing in retirement homes in India is between 45 and 55 or couples should buy such type of second homes 10 to 15 years before their retirement.

Before investing to buy a retirement home, one should take due care about such type of properties. We have listed the things you need to know:

Location of the property

The retirement homes or senior citizen residential properties are usually located on the outskirts of the cities or in remote locations. As land developers get cheaper land there, they build vast tracts of land necessary for such projects.

Such areas are quiet, peaceful, an abundance of sunlight, have a pollution-free environment with lush green vast areas. They give complete resort like feeling to the occupants. However one has to make sure that the place is well connected to the city by good roads and have reliable public transport facility.

Accessibility

The project should have good accessibility from the airport, railway station, bus station and availability of medical services. This enables you to travel to the city easily, whenever required and also your relatives can easily visit you. The project should be situated within a few kilometer ranges of the hospital in case of medical emergencies.

Amenities and Maintenance Cost

The amenities required for senior citizen housing or retirement homes is different from other target age groups.

Senior citizen housing property buyers today want comfortable and fully-facilitated homes, which amplify their quality of life after retirement.

These residential projects should be self-sustaining so that the residents do not have to venture out of the locality for basic services. You must consider maintenance charges, security charges, nursing & healthcare facilities, clean water supply, food/canteen, laundry service, landscaped gardens, leisure activity areas and other amenities necessary for senior citizens before finalizing the deal. 

Life after retirement is meant to be enjoyable, so senior age people expect to find avenues of entertainment and relaxation within the housing project premises.

Payment Options

There are several financial assistance provided to buy residential properties now. Various schemes are provided by banks for easy loan payment options. Also, you can sell your old home to fund a new retirement home purchase.

Original house

You become more asset rich with two residential properties. Keeping the original old house offers the flexibility of returning back if you do not like to live in the retirement homes. You need to keep a balance in immovable and liquid assets to meet your day-to-day expenses.

Conclusion

The retirement home or housing projects for senior citizens is a relatively new segment in the Indian real estate property market and an investment can earn owners handsome returns. It is a growing trend now as more people want to spend their sunset years in homes that amplify their quality of life.

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