Real estate rising in Southern India

Cities like Bangalore, Hyderabad and Chennai together they account for about 45 per cent of office stock of our country. Nearly 56 per cent of mall supply of the country is represented by southern cities between year 2012 and 2016. In the area of residential estate nearly one third of the country’s new launches are been recorded by these cities on an average in the past 5 quarters. In estate south 2012, report by the Jones Lang LaSalle, it emphasised on the real estate analyses of South India. 

It was observed that southern India has been a silent campaigner of strengthening and building real estate development in south India as most sought destination. The report also cites Bangalore’s commercial advantage, residential and industrial highlights of Chennai and infrastructural development in Hyderabad. It also puts light on the potential of upcoming cities in Mysore, Kochi and Coimbatore. Last year across 20 major cities, Tamil Nadu, Andhra Pradesh and Karnataka featured in top ten rankers in terms of transparency. The parameters of research included reforms in urban bodies, market information, protection of property rights and sustainable development. The major cities here have total stock of 140 million square feet. It was expected that by end of 2016 the vacancy rate will be 16 per cent lower than pan-India vacancy rate.