Snippets from Cityscape India Day 2

KUALA LUMPUR: Day 2 at Cityscape India 2009 saw the release of two reports from Colliers, the “Investment Perception Survey” and the “Education -- Emerging Non Conventional Real Estate”.

Some highlights from the Colliers Investment Perception Survey:
1. More than 75% of the respondents indicated that they would prefer to invest in the property segment;
2. Respondents indicated that the ideal range for affordable housing is INR1.4 million (RM102,231) to INR2.2 million;
3. Respondents believe that the Kolkata, Chennai and Hyderabad office markets are yet to cross the trough on the property clock; and
4. Private Equity Funds & developers indicated US$37 million (RM126 million) and US$80 million as the average ticket size for their investments in Indian Real Estate projects.

The two reports are given free to delegates of Cityscape India. The first report, Cityscape Intelligence Focus on India was released on the first day of the conference.

“The Colliers Investment Perception Survey highlights the current optimism in the Real Estate market especially in the residential sector. Investors and developers alike have indicated that they believe we are past the trough in most asset classes across geographies in India,” said Amit Oberoi, national director, Consultancy & Valuation for Colliers.

On the conference front, Day 2 began with a presentation on “Slum Redevelopment”, in which Ashutosh Limaye, associate director, strategic consulting, Jones Lang LaSalle Meghraj spoke of how critical cities were for India’s overall development.

In the next few years, almost 50% of the country’s population will be living in cities, said Limaye. Steps have already been initiated by the Union Government to upgrade or redevelop slums, and the final objective for all parties concerned is to have equitable cities that are sustainable with a good infrastructure & clean environment, he added.

Jones Lang LaSalle Meghraj chairman and country head Anuj Puri said: “Affordable housing and integrated townships facilitate in building Tier II and Tier III cities which is the absolute need of the hour. This is going to help, ease the pressure from the metro cities and reduce slums.”

Cityscape India was held in Mumbai from Dec 9 to 11.
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