NCR, Hyderabad and Chennai have the highest reality space supply

By : Silky Malhotra

14 November, 2018

The key cities of India, including Chennai, Hyderabad and the NCR region, have been leading position, considering the supply of retail space. In the first half of 2018, as much as 1.9 million square feet of space has been added in the seven key cities of the country. These three cities have been leading the drive. People interested in buying real estate India can have a look into the leading portals dealing with property. In recent years, the demand for residential and commercial property in the key cities has increased manifold. As a result, the developers have come up with quality apartments and office spaces in these cities. This is a welcome news for the real estate sector, which had slowed down to a certain extent after the reforms introduced by the government after 2016.

According to a report, the first half of 2018 has witnessed the launch of the one million square feet VR mall in Chennai. Other important developments in these have been the L&T Next Galleria and L&T Hyderabad Next. These account for a total development of 0.65 million square feet in Hyderabad. In the Gurgaon-NCR region, developments have taken place in around 0.25 million square feet. The 32nd Avenue is one of the remarkable projects in this area. Visit the best property buying sites to check out the latest properties in these regions.

One of the important trends in these real estate developments has been the entry of global brands. Important companies that have purchased space in these new real estate projects are American Eagle, Daniel Wellington, Berluti, Molton Brown, Dyson, Bath & Body Works and Antony Morato, among others. Besides, other brands have continued expanding their business in various parts of the country. Prominent among these are Marks and Spencer, H&M, Starbucks, Taco Bell, Mango and others. In order to enter new markets in India, these international brands have continuously purchased real in the top cities. The overall appearance of the real estate sector in the big cities looks healthy. Urbanization has got a boost, with the entry for foreign players in the market.

According to experts, an additional 4 to 5 million square feet of space is likely to come up during the second half of 2018. The cities which are likely to witness most of this growth are Bengaluru, Hyderabad, Chennai, NCR and Mumbai.Experts have also revealed that the REITs are in the offering and most of the developments are focussed on investment grade properties. This is likely to boost up the real estate sector in India to a substantial extent.

The retail sector in India is also transforming rapidly. The retailers are on the hunt for prominent locations to open up their outlets. As a result, the sale of commercial real estate has shown a surge in recent years. Although eCommerce has expanded continuously, the traditional stores have not been left behind. In case you are looking for the best property investment in India, you may consult the experts. Have a look at the ongoing projects in the key cities in the online property portals.