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TOPIC: Demand for Retail Real Estate to Soar
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BunnyMoor (User)
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graphgraph
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Demand for Retail Real Estate to Soar 1 Month, 2 Weeks ago Karma: 0  
The developers are planning to develop a integrated township in cities. The proposed township will have 2, 3 and 4 bedroom Villa in Tripunithura and also in other parts of countries, a commercial-cum-retail centre and a health centre. The Pune Municipal Corporation (PMC) is to go online for approving building plans, a first in the country. The automation of the development control rules will lead to architects getting their approved plans in 24 days. The PMC has till now approved 3,600 building permission plans after the introduction of the system a year ago. The number of approvals in the comparable period in the previous 12 months was only 1,100. Maradu is a high potential part of Kochi City with a number of developments including five star hotels, shopping malls and IT parks coming up here. The draft of the MOU has already been approved by the Government of Kerala. The MOU seeks to reinforce the Public Private Partnership (PPP) initiative by the Government of Kerala, spearheaded by the Department of Industries and Commerce. The IT Park now offers over 32 lakh sq.ft of commercial space making it amongst the largest in the country.

Today, close to 95% of India's retail outlets are below 500 sq ft, as compared to the 2,000 to 5,000 sq ft Reliance Fresh stores and upcoming supermarkets of over 100,000 square feet. With over 1,000 hypermarkets and 3,000 supermarkets projected to come up by 2011, India will need additional retail space of 700 million sq ft as compared to today according to KSA Technopak. Current projections on construction point to a supply of just 200 million sq ft, leaving a gap of 500 million sq ft that needs to be filled, at a cost of US$15-18 billion. A number of real estate developers have announced projects in the retail mall segment. Developers are also integrating the mall concept into upcoming township plans.

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augtics (User)
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BULK DEAL FOR FLATS WITH AUGTICS 3 Weeks, 6 Days ago Karma: 0  
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