On the Fast Track: India's New Road Developments
GRI Club India
High-level content and networking, shaping the present and future of the real estate market
Recent developments in the Yamuna Expressway region of Uttar Pradesh are reshaping the real estate landscape. In response to the increasing demand for land in the area, the Yamuna Expressway Industrial Development Authority (YEIDA) has opted to raise land allotment rates by 5.14%. This adjustment applies across all categories of plots, encompassing residential, commercial, and industrial sectors.
Anticipating the Noida airport project, Uttar Pradesh is planning a city near Agra to accommodate the growing population and support businesses. In support of these plans, the state government has acquired around 1,000 acres of land near the expressways, facilitating the execution of various infrastructure projects.
The recently inaugurated Mumbai Coastal Road is also anticipated to exert a noteworthy influence on real estate markets. DB Realty's leasing of 186 acres in Mira Road to the Brihanmumbai Municipal Corporation (BMC) for an annual rent of Rs 248 crore exemplifies the dynamic intersections between infrastructure development and real estate activities in the broader Indian context.
Investment Insights with Anshu Kapoor
“Our economy is close to $4 trillion, we will shortly be $5 trillion dollars,” says Anshu Kapoor, President and Head for Nuvama Asset Management, explaining his optimistic perspective for the next 12 months, “At $5 trillion dollars a country becomes an asset class, and you can not ignore it.”
Despite the challenges, Anshu sees India as an emerging alternative for global investors, stating that “we are in a very good place right now. Overall, capital flows into this country are very strong.”
Among the main asset classes mentioned by Anshu are offices, which will be the focus of our upcoming premiere CRE event. For its 5th edition, GRI Offices India 2024 will gather the biggest names in the industry to discuss the changing landscape of the Indian real estate office sector.?
Nihar Thanawala's Bullish Market Approach
“Combined with the latency in the demand, the focus from the government perspective, and the capital requirements, I would probably pick residential,” answered Nihar Thanawala, Managing Director of Motilal Oswal Financial Services, when questioned about his choice for the most promising asset class in India presently.
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Nihar also touched on the main challenge in the current bullish market and highlights the risk of making mistakes during positive cycles. “I think the biggest important factor for us is to make sure that we stay core to our strategy” he says, “and we do what we think is right without getting carried away”.
Explore the new dynamics by joining the “Catalyst for Residential Real Estate” Forum in Mumbai on May 14th. Led by experts, the event promises insightful discussions going from affordable housing to the exploration of innovative financing solutions.?
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