report

Mumbai Ranked as the Most Favoured Development Market in Asia Pacific Region

by Paul Joseph July 8, 2011

Mumbai is ranked third as the most promising investment market, and the first as the most favoured development market, in the recent Emerging Trends in Real Estate Asia Pacific 2011, a real estate forecast jointly published by the Urban Land Institute (ULI) and Pricewaterhouse-Coopers (PwC). “Projections for Mumbai in 2011 look good, as the city’s investment ranking rises five spots to third,” the report states, adding that this city is “clearly the best performing and most active real estate market” . Development in Mumbai continues to be an area of interest, with the city ranking first in the 2011 results, up from sec ond in 2010. Oversupply continues to be a serious risk for the area, but respondents “don’t think many people are worried about real estate turning into a bubble again” . “In terms of investment, buying opportunities ‘ring out’ in the retail, apartment and industrial sectors,” the report adds. The report also notes that India’s GDP continues to grow and shows “no real signs of declining anytime soon” . Over the past 30 years, it says, the country has managed to sustain a GDP growth rate average of 10%. Projections for 2011 are 8.5%, and forecasts are for growth of between 9% and 10% by 2015. This is a significant move from the mid-6 % range found in the early 2000s. To support this economic expansion, there has been a large amount of growth in the working population of India. Also, the government continues to make progress in introducing reforms that have helped the country introduce new private equity to capital markets, create a new platform of employment, and inject capital into infrastructure programmes. Exports of both goods and services from this region continue to increase, marking more business interest abroad. Speaking of the region as a whole, the ULI/ PwC report also states that the “cloud has been lifted” from Asia Pacific real estate markets , with the fiscal outlook for most of the Asian countries more promising than that for Europe or the United States. “Many , if not most, Asian economies have rebounded to pre-crisis levels, and real estate markets, although mostly slower, are headed towards some semblance of normalcy,” said ULI Asia Pacific chairman C Y Leung.

Tagged as: asian, banking and finance, city, country, delhi, europe, government, pune, real estate, real estate developers, report, retail

0 comments Read the full article →

Bangalore to Witness Robust Commercial&Retail Space Demand

by Paul Joseph April 26, 2011 Uncategorized

Bangalore is likely to witness a robust demand in commercial and retail space in the present calender year on the back of higher economic activity. According to a study of real estate research firm Jones Lang LaSalle India, the city is likely to absorb about 7.1 million sq ft of office space by 2011 against a supply of 7 million sq ft in this period. “A majority of the expected absorption is likely to take place in the secondary and Whitefield micro-markets,” Abishek Kiran Gupta, head-research and REIS, JLLM said. In the meantime, the office market has witnessed a total transaction of 2.77 million sq ft in the first quarter of CY10, which is 7.36 per cent higher than the previous quarter. The total net absorption in the city was 958,091 sq ft, of which the central business district (CBD) and others accounted for 18 per cent of the absorption during this period. Some of the key transactions during this period are Math Works leasing a 10,076 sq ft on Ulsoor Road, Impetus Leasing 20,000 sq ft on the Outer Ring Road among others. In the rental space, the average rent for office space in the CBD increased to Rs 78 per sq ft from Rs 76 sq ft in the first quarter of CY10. Similarly, the retail space is expected to see a momentum during the present calender year. “Demand is expected to gain momentum and the total absorption in 2011 is likely to be about 2.31 million sq ft against a supply of 3.3 million sq ft,” the report said. However, the report said vacancy rate was expected to rise from 5.8 per cent in 2010 to 16.4 per cent in 2011. According to JLLM, the retail market absorbed 200,000 sq ft of retail mall space during the first quarter of CY11. ‘The high streets of Indiranagar, Koramangala, Whitefield, BEL Road and Old Madras Road accounted for 277,995 sq ft of the leasing activity indicating a surge in demand in retail space,” the report said. Vacancy has also fallen to 5.5 per cent in the first quarter from 5.8 per cent in the last quarter. Some of the deals during this period are Pantaloons leasing 20,000 sq ft, Costa Coffee leasing 3,000 sq ft among others. Referring to retail rentals, the report said rental and capital values across micro-markets of Bangalore were expected to rise in 2011. “We forecast rental values in the prime city area to reach Rs 184 per sq ft per month by the end of 2011,” the report said. The appreciation in rental and capital values is anticipated in the prime city due to the lack of supply in the pipeline to meet growing demand, he added.

Tagged as: absorption, impetus-leasing, india, present, real estate, real estate trends, report, retail market in india, the-report, whitefield

0 comments Read the full article →

new launches in the premium residential segment in 2011

by Paul Joseph January 13, 2011 Uncategorized

The real estate industry will witness new launches in the premium residential segment in 2011, on the back of demand revival and good prospects in the economy, albeit at a slower pace. “We see demand in the premium segment coming back with revival in the real estate market. High net worth individuals (HNIs), NRIs (Indians residing abroad) and top executives of public and private sectors are showing interest in these kind of properties,” said L S Vaidyanathan, executive director of Nitesh Estates. He said, though, that real estate companies would be slow in new launches in this segment. Nitesh Estates recently launched a premium housing project in Goa and has planned two others in Bangalore in 2011. Usually, operating margin in the high-end projects, in a Rs 1-10 crore price range, are at 25-30 per cent. Shama Sunder, chief financial officer of Brigade Enterprises said there was never a let-up in the demand for such projects, except during recession. “Premium projects fetch a 10-15 per cent higher operating margin than a mid-segment residential project. However, it all depends upon the development approach, such as whether a property is developed on the developer’s own land or in a joint development arrangement.” Experts say the margin is higher if the project is developed on the outskirts of the city and lower in the case of a central business district. Sunder said Brigade Enterprises had planned to launch four new projects in 2011. According to real estate consultancy firm Jones Lang LaSalle India, launch of high-end residential projects will continue but at a lower pace. “The activity in the high-end residential segment dropped sharply during the slowdown. However, banking on the sound response to residential sales, several developers began launching premium residential projects by the end of 2009 and this was accompanied by a rise in property rates across cities, with a fall in absorption rate,” said Himadri Mayank, its manager (research and real estate intelligence service). He said a resurgence in activity had been recorded by the end of 2010, wherein a number of premium projects had been launched. About new launches in 2011, Mayank said though select developers would still launch premium projects, the rate of new supply was expected to remain range-bound. The firm says around 2,800 units were launched in the October-December quarter of 2009, rising to 3,700 units during January-March of 2010, then to a high of 4,500 in the second quarter of the calender year. Then, a fall to 2,500 units over July-September, the report added. Across cities, the report said Mumbai led in activity in the high-end residential segment. Market value of theseunits under construction in South Mumbai at the prevailing property rates is about Rs 65,000 crore. According to another real estate consultancy, Cushman & Wakefield, developers have planned to launch about 9,000 homes in the super-luxury segment across all major cities in India over the next two to four years

Tagged as: city, project, property in india., real, report

0 comments Read the full article →

Housing loans grow 20% to Rs 3.15 lakh cr last fiscal: RBI

by Paul Joseph November 9, 2010 Uncategorized

MUMBAI: The Reserve Bank of India on Monday said that home loan disbursals rose by 20 per cent to Rs 3.15 lakh crore in 2009-10 compared to the year-ago period, primarily helped by lower interest rate. In its report ‘Trend and Progress of Banking in India 2009-10′, RBI said that while home advances rose, loans for other retail segments such as auto, consumer durables and personal purposes dropped in the last fiscal. “The pick up in housing loan growth was partly on account of low interest rates that prevailed during most part of 2009-10 despite the fact that property prices, which had experienced a correction in 2008-09 immediately following the crisis, showed a spurt during 2009-10,” the report said. The housing loans in the 2008-09 fiscal stood at Rs 2.63 lakh crore, which marked a growth of just 4.1 per cent as against the 2007-08 financial year. In 2009-10 fiscal, consumer durables’ loan fell 44.2 per cent to Rs 3,032 crore while auto loans declined 6.6 per cent to Rs 78,346 crore as compared to the year-ago period, the report said. Other personal loans decreased 3.5 per cent to Rs 2.03 lakh crore last fiscal. The credit card receivables also slipped during the last fiscal to Rs 21,565 crore from Rs 29,941 crore in 2008-09 financial year. “Given that most retail sectors are rate-sensitive, credit to these sectors in future would be impacted by the emerging interest rate environment,” the report said. The apex bank is currently tightening the screws on housing loans to rein in spiralling inflation and stave off the possibility of realty bubble in the fast growing economy. In its quarterly monetary policy this month, RBI made the norms for housing loans more stringent to curb excessive borrowing, against the backdrop of rising real estate prices. Going by estimates, property prices in most metros have touched levels that were seen before the global financial meltdown in 2008-09. Among the steps mandated by RBI is an increase in the risk weight of high-value loans, an increase in the funds to be kept aside by banks as a cushion in case of defaults on loans made at teaser rates and bringing down the ceiling limit on housing loans to 80 per cent of the property value. The RBI also asked banks to set aside a higher amount for controversial teaser home loans rates to act as a cushion in case of defaults. Teaser home loans are offered at low interest rates during the initial years

Tagged as: banking, crisis, during-the-last, home-loan, personal, report, reserve-bank, year

0 comments Read the full article →

Office Rental Shoots amidst High Demand

by Paul Joseph October 6, 2010 Uncategorized

Rentals for office space in top Indian cities are firming up due to increased demand, as per an industry study that suggests revival in one of the few real estate segments yet to come out of a slowdown. There has been moderate quarterly rise in office rentals across Grade A projects in the central business districts of Delhi (4%), Mumbai (3%), Bangalore (3%) and Pune (4%) with Kolkata clocking the highest increase (10%), according to a report by commercial real estate services firm CB Richard Ellis India. The study for the three months ended September that covered top office space rentals across Delhi NCR , Mumbai, Bangalore, Chennai, Hyderabad, Pune and Kolkata found rentals in Chennai and Hyderabad remained static compared with the quarter ended June. “A large number of companies are reviving their expansion plans, while demand is also increasing for SEZ office space. This is indicative enough of a revival of demand and substantial improvement in the market activity across the country,” stated the report. There has been considerable increase in the transaction volume in almost most metros, including Pune and Kolkata. Hyderabad is expected to witness higher rentals because of increased demand for commercial office space by year end, added the report. Anshuman Magazine, managing director at CB Richards Ellis said, “Rental increase will remain in check in the medium term due to the ongoing supply.” In the top cities, occupiers and companies look to shift to secondary markets and alternate locations for several reasons such as location advantage, metro connectivity, quality construction and infrastructure, more efficient buildings and competitive rentals. “It is imperative for developers to take a cautious approach towards rental expectations during this rising yet fragile market,” the report added.

Tagged as: bangalore, commercial-real, mumbai, real estate, real estate developers, report, richard-ellis, transaction

0 comments Read the full article →

India’s Organised Sector Expected to generate over 3 Lakh New Jobs

by Paul Joseph September 17, 2010 Uncategorized

India’s organised sector is expected to generate over 3 lakh new jobs across sectors in the September quarter, a survey said on Wednesday. The country’s organised sector is set to create about 3,20,400 jobs between July and September 2010, according to the findings study on the employment trend by staffing services firm Ma Foi Randstad. “There is optimism in the economic scenario across all sectors and services sector has created most of the new jobs in the country,” it noted. Around 650 companies across 13 industry segments were surveyed. According to the report, 4,18,564 new jobs were generated between January and June this year, with health care sector alone seeing over 121,000 jobs. Hospitality industry added 63,000 jobs during the same period. “The top five sectors leading the boom are health care, hospitality, real estate & construction, IT & ITeS and education, training & consulting,” it said. When it comes to cities, Ma Foi noted that New Delhi, Mumbai and Chennai were the leading job generators. The three cities, together, saw the creation of 1,12,987 jobs for the period of January to September 2010. “Kolkata, Bangalore and Hyderabad follow closely creating 30,000 plus jobs during the same period,” the report added. Ma Foi Randstad’s Managing Director and CEO K Pandia Rajan said that there is increased optimism in hiring spread across all sectors. “We see the service sectors like health care and hospitality spearheading the boom by adding significant number of jobs. “The buoyant economy has given a boost to real estate & construction sector, which has demonstrated the highest growth in employment figures,” he said. In the September quarter, real estate & construction segment is expected to see an average salary increase of four per cent. Pharmaceutical and health care industries are anticipated to witness an hike of 3.5 per cent and 3.4 per cent, respectively, during the same period. Among cities, Bangalore is projected to see an average salary jump of 4.9 per cent, followed by Delhi and Pune, with an increase of 3.5 per cent each.

Tagged as: chandigarh, chennai, faridabad, noida, real estate, real estate india, report

0 comments Read the full article →

Global Commercial Real Estate to Touch $300-bn Mark

by Paul Joseph August 27, 2010 Uncategorized

Reflecting improved investor confidence, investment in commercial real estate globally is expected to witness a “healthy” growth of 40-50 per cent to $300 billion in the current year, says a report. According to the report by global real estate services firm Jones Lang LaSalle, the first half of 2010 saw investment worth $130 billion in the commercial real estate globally and is likely to touch $300 billion in the full year, representing an increase of 40-50 per cent from 2009. “The first half of the year showed that confidence has improved and momentum has increased. While markets across the globe are strengthening, the last few weeks have shown that regional markets are moving with different dynamics,” the report noted. In the commercial real estate market, the quickest recovery was seen in the Asia Pacific. Europe lagged behind, where the investors still seem more hesitant, due to sovereign debt and austerity packages concerns, followed by the US, which had a slow start to 2010, but investment markets are picking up with the stabilised market fundamentals. While, the rental markets are still to catch up in Asia with the improved market sentiment, the rental growth is expected to make a comeback in few European markets over the second half of 2010 and 2011.

Tagged as: commercial-real, investors, real estate, real estate developers, report

0 comments Read the full article →

Commercial rental space in metros to have more supply than demand: CII, JLLM Report

by Paul Joseph August 5, 2010

Mumbai: The commercial lease and rental space in India will witness a low occupancy rate till 2011, indicates the latest report by Confederation of Indian Industry (CII) and Jones Lang Lasalle Meghraj. The report, ‘The Seven Stars of India – India’s best performing micro markets for occupiers’ consist the trend and forecast on realty rental market in seven cities of India including, Delhi NCR, Mumbai, Pune, Chennai, Bangalore, Hyderabad and Kolkata. “Indeed, most cities in India have already witnessed an increase in the volume of lease transactions in 1Q 2010 with NCR-Delhi, Mumbai and Hyderabad having recorded more than a million sq ft of leases each. In 2009, occupiers showed a strong preference towards operational vacant stock rather than projects under construction, a departure from 2007-08,” states the report adding, “With the forecasted growth of net completions expected to outpace that of net absorption, a significant supply overhang is expected to remain over the next one year. This will lead vacancy level across India, which was at 17.2% at end-2009 to rise to mid 20% by end-2010.” The above graph suggests that net absorption will be less than new completions and hence increasing levels of vacant space. The report further states that, “Gurgaon (NCR), Thane and Navi Mumbai (Mumbai) have led all micro-markets in rental depreciation, thus proving very attractive for many occupiers. However, despite a low rental correction in micro-markets such as Salt Lake (Kolkata), SBD Bangalore, SBD Chennai, Whitefield (Bangalore) and Hinjewadi (Pune), they continue to remain attractive for occupiers primarily due to low rental base, quality future supply and existing tenant profile.” About the future trend, report states that the most micro-markets are expected to reach their rental lows within the next 2-3 quarters, if not reached as yet. This indicates that the window of opportunity for occupiers, where balance of power favors them, continues to shrink with every passing quarter. Mr Anuj Puri, Chairman CII Real Estate National Conclave and Chairman and Country Head, Jones Lang LaSalle Meghraj says, “Based on the recently released, Global Real Estate Transparency Report by Jones Lang LaSalle, The Indian real estate industry has its own challenges and opportunities. India was ranked 41st in an international survey on transparency in real estate transactions in Tier-II cities whereas, in 2008 we were ranked 50th. We are also ahead of China in the same manner which is due to increasing participation of international real estate companies’ participation and improvement in title recalls.” Abhishek Kiran Gupta, Head – Research & REIS, Jones Lang LaSalle Meghraj states, “With India’s economic recovery well under way, its commercial real estate market is beginning to stabilize. Apart from charting the today’s lucrative micro-markets in terms of commercial real estate, this report also affirms that the commercial property landscape will remain favourable for tenants in 2010, and that landlords will have greater influence towards the beginning of 2011.” Forecast Demand from global players, headquartered abroad, might catch up with domestic occupier demand by the year end. IT/ITeS sector will continue to lead, followed by sunshine sectors including Telecom, Pharma and BFSI. Industrial growth might spur office space demand from the manufacturing and engineering sector. Occupiers to remain flexible in option selection; focus on growth and remain operationally efficient. Uncertainty over headcount will remain a challenge for CREs as they ensure that corporate real estate strategies are in line with broader organizational objectives. Occupier focus will be on Special Economic Zones, due to the STPI sunset clause by March 2011. 7 Stars’ profile and Reasons for Success Delhi NCR: Gurgaon is a clear winner when it comes to occupier demand and availability of options due to sufficient quality supply, steep rental depreciation and flexible approach of developers (led by DLF). It also scores high on a fair mix of retail, residential and hospitality concentration, MRTS transportation and regional connectivity, aided by proximity to the international airport. NOIDA comes close as a second alternative, especially for IT occupiers, boasting of an excellent infrastructure and lower rentals. Moving ahead, both Gurgaon and Noida would compete for tapping occupier demand. However, we believe that Gurgaon will continue to maintain its leadership position in the future. Mumbai: SBD North (primarily Andheri), at the heart of Mumbai, is closer to the city airport, has an under-construction MRTS connectivity, and boasts of more than dozen 3-5 star hotels, malls, social, medical and recreational facilities. With more than 3 million sq ft of future supply expected in the next few months and a diverse mix of occupiers, SBD North has recorded one of the best absorption rates in Mumbai over the past two years. Thane, Navi Mumbai, Western and Eastern suburban micro-markets shall continue to attract IT/ITeS occupiers primarily due to affordability. Bangalore: Offering Grade A office space at the most affordable rental ranges (INR 38-40 psft pm) among the secondary districts in the country, SBD Bangalore has witnessed more than 5 million sq ft of average annual absorption from 2007-2009. With proximity to key residential areas and availability of large land parcels, connectivity to the international airport, elevated expressways, the SBD micro-market in Bangalore is currently the largest micro-market in the country in terms of operational grade A commercial stock with highest occupancy rate. We foresee the trend of single digit vacancy to continue in this micro-market due to controlled supply pipeline and robust occupier interest. Hyderabad: Having witnessed more than a million sq ft of leasing activity in 1Q 2010, Grade A office properties in Hitec City and Gachibowli have attracted a fair share of the resurging IT demand (TSI Waverock and K Raheja building 9 and 11). This micro-market offers good airport connectivity, well laid road and rail infrastructure, as well as solid IT infrastructure (Cyberabad). There are multiple spatial options available (particularly for IT companies), offering quality office space at affordable rentals. However, regional political sensitivity might discourage occupiers to consider Hyderabad city in the short-term. Still Hitec City and Gachibowli will clock good amount of leasing in the future primarily due to developed infrastructure, presence of quality tenants and affordable rentals. Pune: SBD Pune excels over Hinjewadi due to better infrastructure and proximity to residential locations, presence of support infrastructure such as hotels, malls, educational and medical facilities. The SBD witnessed an average annual absorption of 2.2 million sq ft from 2007-2009 (against less than a million sq ft in Hinjewadi over the same time span), due to relatively larger rental correction. Encompassing major city locations like Magarpatta, Kharadi and Kalyani Nagar, state of the art IT infrastructure, together with a well established transportation network, and quality LEED certified office space (amidst bottomed out rentals) makes SBD Pune attractive for occupiers; notably the IT and manufacturing sectors. Chennai: The SBD and the suburbs of Chennai (primarily OMR) are closer in real estate scoring, as indicator movement and demand influx has been comparable in the two micro-markets (average annual absorption from 2007 – 2009 was about 2 million sq ft each, with a similar rental drop of 25-30% from peak). SBD Chennai has a large supply base and offers occupiers multiple options for good quality, well-maintained properties with a focus on ‘Green’ and ‘Sustainability’. Affordable rents in a well sustained market further drive occupier interest. While SBD Chennai is currently far more attractive to occupiers as it offers strong regional connectivity, better social, institutional and residential infrastructure, suburbs are poised to give a strong competition in coming years. Kolkata: Salt Lake is an established office destination of Kolkata, offering excellent retail and residential catchments, hotels and regional connectivity to IT/ITeS occupiers. However, moving ahead, Rajharat will score high due to ongoing SEZ projects, quality office and residential properties, besides relative proximity to domestic and international airport. Source:http://www.orissadiary.com/ShowBussinessNews.asp?id=20327 Filed under: Bangalore , Chennai , Delhi , Hyderabad , Mumbai , Pune , Serviced apartments/offices Tagged: Bangalore , Chennai , Commercial rental space , Delhi NCR , Hyderabad , Jones Lang LaSalle Meghraj , Kolkata , Mumbai , pune

Tagged as: bangalore, city-trends, hyderabad, indian, mumbai, pune, real estate, report

0 comments Read the full article →

India’s commercial space to face the problem of plenty

by Paul Joseph August 5, 2010

India’s realty sector is likely to face the problem of plenty with office rental space set to outstrip demand resulting in a further drop in rentals, according to a report released on Tuesday. “With the forecast growth of net completions expected to outpace that of net absorption, a significant supply overhang is expected to remain over the next one year,” Confederation of Indian Industry (CII) and global real estate services firm Jones Lang Lasalle Meghraj said in a joint report. “This will lead vacancy level across India, which was 17.2 percent in 2009 to rise to 20 percent by 2010 end,” it added. It said the commercial lease and rental space in India would witness a low occupancy rate till 2011. The report, however, added that most Indian cities have witnessed an increase in the volume of lease transactions in the first quarter of 2010 with Delhi, including the national capital region, Mumbai and Hyderabad having recorded more than a million square feet of leases each. In 2009, occupiers showed a strong preference towards operational vacant stock rather than projects under construction, a departure from 2007-08, the report pointed out. On the future trend, report said the most micro markets were expected to reach their rental lows within the next 2 3 quarters, if not reached as yet. This indicates that the window of opportunity for occupiers, where balance of power favours them, continues to shrink with every passing quarter. “With India’s economic recovery well under way, its commercial real estate market is beginning to stabilise. Apart from charting the today’s lucrative micro-markets in terms of commercial real estate, this report also affirms that the commercial property landscape will remain favourable for tenants in 2010, and that landlords will have greater influence towards the beginning of 2011,” said Abhishek Kiran Gupta, Head Research and REIS, Jones Lang LaSalle Meghraj. The report titled “The Seven Stars of India India’s best performing micro markets for occupiers” highlights the trend and forecast on realty rental market in seven cities of India Delhi, Mumbai, Pune, Chennai, Bangalore, Hyderabad and Kolkata. Source:http://www.hindustantimes.com/India-s-commercial-space-to-face-the-problem-of-plenty/Article1-581791.aspx Filed under: Builders/ Developers , Hyderabad , Mumbai , Serviced apartments/offices Tagged: Commercial Estate in India , Hyderabad , Jones Lang LaSalle Meghraj , Mumbai

Tagged as: abhishek-kiran, builders/ developers, city-trends, hyderabad, india, indian, lasalle-meghraj, mumbai, real estate, report, research

0 comments Read the full article →

Commercial Realty Market Beginning to Stabilise- Report

by Paul Joseph June 27, 2010

With India’s economic recovery well under way, its commercial real estate market is also beginning to stabilise, said a report released by the Real Estate Intelligence Services division of Jones Lang LaSalle Meghraj. The report titled, “The Seven Stars of India – India’’s best-performing micro markets for occupiers”, highlights the most favourable office micro-markets in India. The report said that while the landscape will remain favourable for tenants in 2010, landlords will have greater influence starting in 2011, which means they should proactively look at locking in attractive leases in the near-term, as office rents are beginning to bottom out. Office micro-markets were rated in the report on the basis of high real estate development, well-developed support infrastructure and sustainable social and business environments. “With India’s economic recovery well under way, its commercial real estate market is beginning to stabilise,” Jones Lang LaSalle Meghraj associate director (Real Estate Intelligence Services) Abhishek Kiran Gupta said in the report. It further states that most Indian cities witnessed an uptick in the volume of lease transactions during the last fiscal, with leases for more than a million square feet given out in Delhi and the NCR, Mumbai and Hyderabad. With the projected growth of net completions expected to outpace net absorption, a significant supply overhang is expected to remain over the next one year. This would lead to a rise in vacancy levels to mid-20 per cent by the end of 2010 against 17 per cent in 2009. The report also gives insights on the changing strategies for commercial occupiers in 2010, factoring in dynamic market movement.

Tagged as: abhishek-kiran, during-the-last, india, jones-lang, landscape, property prices, real estate developers, real estate india, report

0 comments Read the full article →