Decoding real estate beyond noise.
Earth
Joined August 2023
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If Delhi NCR represents North India's love affair with real estate, Hyderabad seems to be doing the same for South India.
Both cities are making headlines for record-breaking real estate deals. Real estate remains one of the most visible ways to signal wealth and status in these two cities which are miles apart, yet remarkably similar in their fascination with "trophy" real estate.
The problem with real estate isn't necessarily real estate itself.
Real problem is buying without being well-informed, relying blindly on a commission-driven ecosystem rather than understanding what you are actually buying into.
As housing prices in Gurgaon start catching up with Mumbai, perhaps Gurgaon residents might also start saying the same thing...
"Gurgaon is now too expensive to build a life in..." and then start looking at Hyd, Pune, Blr or other cities instead with similar job opportunities.
That's also a maybe, no guarantee of surrounded by high performers in office setting... but yes you can still experience this also. Also don't think you need to extrapolate the "(work) setting" to know your greatest failure or success, if the way you have worked has actually worked for you :)
The way H1Bs are increasingly being sent back, many such talented dancers might end up in Bandra fort/ lands end area with the similar backdrop of bridge (bandra-worli sea link) to show their talent... India mein platform ready hain inke swagat mein 😂
Don't know if there is a need for more engineering campuses, but instead govt. should build more T-hub like incubation hubs in all these cities first to retain the talent graduating from existing institutes to start companies there itself... otherwise what will be the purpose of opening these campuses, when students graduating from them have to go to other cities/states for employment or setting up new businesses? Because if you notice, there is no dearth of good engineering colleges in the state or its cities, but the ecosystem to retain the talent is quite negative.
India's Grade A office leasing picks up 📈 again.
According to Colliers, gross leasing across 7 major cities reached 18.7 million sqft, up 9% YoY and 7% QoQ.
- Bengaluru remained the largest market, with 5.2 million sq. ft. leased, broadly flat QoQ and YoY.
- Delhi NCR recorded the sharpest increase (⏫106%) among the major markets, more than doubling its leasing volume YoY.
- Hyderabad continued to grow (🔼47%) YoY strongly, although leasing fell (🔻42%) QoQ.
- Mumbai and Chennai saw YoY declines of 🔻20% and 🔻23%, respectively.
We continue to see more and more reports about housing prices rising 📈 YoY across our major cities.
But rarely do we get to hear how our basic civic infra is crumbling and weather conditions are worsening 📉DoD (decade on decade), making our cities increasingly unlivable with time.
This decoupling can't continue forever.
Or can it?
While Mumbai folks are dreaming of seeing Gurgaon real estate finally getting humbled, but Gurugram seems to be winning the battle against the "erstwhile" king of Indian real estate, Mumbai.
Because Gurugram property prices has now already surpassed Mumbai, with staggering 450% 📈 growth since 2020.
So now Mumbai real estate has a new challenge... to now compete with Gurugram!
After all, Gurugram is already on its way to beat New York, Singapore, Monaco and every other expensive real estate market on the planet.
Ab Manhattan door nahi hai... bas NCR ke builders aur unke brokers ko lage rehna hain... continue the bombardments of reels/shorts/posts... with thumbnail "Gurgaon property prices will keep going up".
Decade long price stagnancy has humbled us in MMR.
Gurgaon's turn will come.
@PropertyDecoder
Whether you believe it or not, many/most builders in India seem determined to extract as much as they can from homebuyers, first through hidden/random charges, years of delay, then through secondary-sale/transfer charges, and later even through maintenance charges for years like their fixed rental income, often while delivering only the bare minimum.
So, until the builder is finally out of the picture, homebuyers find themselves facing one layer of extraction after another.
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I don't know if Gurgaon or NCR developers will ever get humbled, but absolutely sure they'd never say something like this publicly, despite knowing the game.
