Property market in India on a rise
In RICS India Commercial Property Survey it is observed that the realty market is now witnessing improvement across the country.
The report has shown that the rental expectations are turning positive this quarter as opposed to being negative during the last three months of 2011.
Market activity indicates that rental value of retail properties, particularly high street has seen an increase in 2012, while supply of other retail space such as malls is also on the rise.
While demand for office space still remains relatively sluggish, there has been some increase in absorption this quarter as compared to previous months.
The commercial realty markets in India are reasonably buoyant as fairly good absorption of office space at attractive values is done by local companies and multinational companies.
Rate of absorptions of properties in Pune, Mumbai, Chennai have increased in the first quarter of the financial year 2012-13.
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Source: Constructionweekonline
demand for office space, Realty market, realty markets in India, rental value for retail properties, RICS India Commercial Property Survey
