CII in association with their Knowledge Partner, JLL India released a report titled “Rowing the New Wave: Game-Changing Rules for Indian Real Estate” against the backdrop of the CII Real Estate Conclave 2014 organized by CII on 27 June, 2014 at Mumbai.
The study seeks to provide a graphic view of the sector's current and future opportunities, and the issues that need to be addressed to provide the needed impetus. Anticipating the changing trends at this juncture of political change in India, the CII-JLL report provides fresh insights on the real estate scenario in India today:
- Game Changers: Real Estate policies such as Real Estate (Regulation and Development) Bill, 2013 and Goods and Services Tax.
- Introduction of REITs: The opportunity potential for the real estate industry in a mature, adequately funded and more transparent market.
- The IT/ITES Sector: FY 2013–2014 to be relatively more positive.
- Office Supply: About 34.3 million sq. ft. of office space will be supplied in 2014.
- Office Absorption: Expected to be about 27.8 million sq. ft. in 2014 - a 4% increase over last year.
- Retail Real Estate: 6 million sq. ft. of mall space to be supplied in India in 2014.
- Residential Real Estate: Residential absorption rate to pick up to 15% in 2014, though the sector continues to struggle with piling inventory and slow absorption rate in most cities.