Thursday, 10 December 2015

11k crore AMRUT push to fuel realty growth

Earlier this year, the Government of India had announced development of 500 cities under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) plan for Smart India Mission. For the same, Center has finally begun with efforts by clearing proposals worth Rs 11,654 crore that are aimed towards improving basic infrastructure and facilities in 272 cities and towns, which include investments worth Rs 3,120 crore in 102 cities and towns.

The government has given a green signal for Rs 438 crore investment in 18 cities identified in Haryana during the next fiscal year. Likewise, 9 cities in Chhattisgarh would get Rs 573 crore and a sum of Rs 416 crore has been assigned for 12 cities in Telangana and Rs 588 crore for 9 cities in Kerala.

Net office space absorption at 31 million sq ft in 2015:
Net absorption of office space is expected to be about 31 million square feet this year in the country's seven major cities as sentiments have improved in commercial real estate market, a study has said. The study was conducted jointly by industry body ASSOCHAM and property advisory firm JLL India.“A total of about 34 million square feet of office space is expected to become operational in 2015 and India's office stock is likely to settle at 440 million square feet by end of 2015,“ the statement said. The study highlights there is a window of opportunity for the occupiers and investors as rents and capital values in most of the micro-markets are at their cyclical bottom.

Source: PropertyatNeoDevelopers.Wordpress.Com

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