On the supply side, close to 2 million sq. ft. of new supply entered the market during the second half of 2017 and majority of this was concentrated in Kolkata, Delhi National Capital Region (NCR), Chennai, Pune and Bangalore.

Retail assets in the country witnessed investments of over $800 million from private equity and wealth funds in 2017; a 15% increase over 2016. The steady capital inflow highlights the continued growth of the retail sector in India, showed a CBRE South Asia report.

On the supply side, close to 2 million sq. ft. of new supply entered the market during the second half of 2017 and majority of this was concentrated in Kolkata, Delhi National Capital Region (NCR), Chennai, Pune and Bangalore. While close to 3.4 million sq ft of supply entered the market, 15 new brands established their presence in the country during the year.

Between July and Dec 2017, demand for retail space remained strong, as international brands such as Tom Tailor, Miniso, Simon Carter, and Jo Malone opened their first outlets in the country. At the same time, other well-known brands including Starbucks, H&M, Mango, Westside, Pantaloons, and Hamleys continued to expand operations.

Madame Tussauds also made its debut in the country with its first museum opening in Connaught place, Delhi in October 2017. Swedish home furnishing brand IKEA opened an experience center, Hej Homes, in Hyderabad during the second half of 2017.

“The government’s continued focus towards making India a preferred investment destination is having a positive impact on the country’s economy as well as the retail landscape,” said Anshuman Magazine, Chairman, India & South East Asia, CBRE.

According to him, the recent announcement allowing 100% FDI in Single Brand Retail Trading under the automatic route is likely to further ease the entry of global retailers. Competitive rentals, availability of quality space, and with more brands coming in driven by a growing consumer base, the sector can expect significant growth in times to come.

A notable trend witnessed during the year was the adoption of omni-channel strategies by established players. Several e-commerce retailers such as Urban Ladder, Craftsvilla, Myntra, Jaypore, Pepperyfry and Nykaa opened their brick-and-mortar stores; whereas established retailers such as Zara launching their online portals.

“Thanks to increasing globalization, demand for international brands continues to influence the retail story in the country. Going forward, increasing investments coupled with availability of quality space in both tier 1 and tier 2 cities will propel the market,” said Vivek Kaul, Head, Retail Services, India for CBRE South Asia.

During the first half of 2018, CBRE expects quality supply to enter the market, led by the southern cities of Hyderabad and Bangalore. Both domestic and international retailers continue to lead the expansion across fashion and F&B categories. Despite a strong supply pipeline, demand for quality retail space will continue to exceed the supply in most leading markets.

Source: The Economic Times

Buying your First Home? It is evident that you will have several questions in mind as a first time home buyer. We have compiled 5 most important financial aspects to consider before you buy your new home.

Financial Planning

The first step towards a proper financial planning for your dream home would be to review your current financial obligations such as other loans, insurance amount etc. This will provide you the right picture of your true income. Your budget will be a factor of the EMI that you can pay off and what your monthly expenses are. Apart from this, you should also account for the hidden charges such as registration, stamp duty, maintenance etc, when finalizing your budget & loan amount.

Once you have decided the loan amount, move on to check how much would you be able to put as down payment. Typically, these range from 15 to 20% of the property value, and offer a confidence to the bank about your credibility. You can also choose to take a loan with zero down payment, but this will result in an increase in your monthly EMIs.

Improving Your Credit Score

This plays a critical role in your loan application. Once you have applied for the loan, the lender checks for your credit score, as this is a clear indication of the credit worthiness of the applicant. So it would be advised to check your score with any of the credit bureaus like CIBIL, TransUnion etc. before applying for a loan, and ensure that it is in the better range.

Choosing The Right Loan

It is important that you do your market research thoroughly, as it will help you select the most suited financing option. With a variety of options now available for loans, one always has the privilege of negotiating rightly with the bank, thus reducing your interest rate and save yourself a lot of money.

But before selecting the right loan, just keep few important parameters in mind: how much loan are you eligible for, what will be the interest rates, how can I get the loan processed with minimal fee, what should be by EMI, what other expenses do I have.

Additionally, you always have the option to choose between the floating interest rate and the fixed interest rate.

Selecting The Right Location & Builder

While choosing the location, keep softer aspects such as connectivity, safety, proximity to markets, schools, public transport in mind. You should also be aware of the future developments planning in that area.

Also, before finalizing a property, do a thorough background check of the builder, as to how many projects he has done, what has been the delivery record, quality of construction, rate of appreciation of previously developed projects etc.

Home Inspection & Legal Due Diligence

Do a thorough inspection of the property you are planning to buy to spot defects, if any. There are many professionals who would do this on your behalf and provide you a detailed report on the current defects as well as the potential damages, if any.

Additionally, there are a lot of legal documents that are required to be verified without which the sale of property is incomplete. Make sure that these are verified and signed. These include Sale agreement, registration, encumbrance certificate etc.

Source: Magicbricks