Category Archives: Blog

Chennai witness 92% growth in office space absorption

Bengaluru records highest absorption at 7.9 million square feet

Chennai witnessed a staggering 92 per cent increase in office space absorption at 2.3 million square feet, followed by Pune, which saw 50 per cent growth at 2.1 million square feet.

 

Bengaluru with 34 per cent growth saw record highest absorption at 7.9 million square feet amongst seven (Chennai, Pune, Mumbai, Delhi, Hyderabad and Kolkata) key markets. Delhi-NCR witnessed 25 per cent at 4 million square feet. Mumbai office space absorption grew marginally at 2 per cent with 4.2 million square feet. Hyderabad and Kolkata recorded absorption of 2.2 million square feet and 0.7 million square feet respectively.

 

On all India basis, the commercial office sector continued to witness strong growth momentum with an 18 per cent on year increase in net absorption at 23.4 million square feet during January–September 2018 period. “This double-digit growth is driven by strong economic fundamentals, demand for good quality grade A office space, institutional investments in commercial office assets along with the co-working office trend catching up in key markets,” said Ramesh Nair, CEO and Country Head, JLL India.

 

Source: thehindubusinessline.com

10 THINGS TO KNOW BEFORE BUYING A FARM LAND

 

1. Find a Quality Farm / Agricultural Land Real Estate Agent:

Many real estate agents are knowledgeable only about property and houses in cities. So find agent who knows about farming, farm house and other important details like soil types and water. A good real estate agent will guide you in all complicated issues. Rural real estate is complex, so finding a good agent / professional property management consultant experienced in land purchasing is a necessary investment.

2. Proximity to Local Markets:

Need to check on how close is the local market and distribution channels from farm? If you have to drive many miles before you reach your local farmers market, is it worth the cost, energy and time associated with the distance? Check for any stations or airport nearby for future advantage. Also check about other farms nearby that also have to make the commute.

3. Land History – Physical and Cultural:

Look for the stories associated with the land, what sort of people lived or how it has been formed or originated. See if you can find out about previous land management practices, about water usage, flood irrigation, cattle and hay ground, etc.

4. Infrastructure:

Is there a barn or houses or other building on the property? Does the farm have any fencing or any motors or equipment? It is important to know about your investment after you purchase the land. If your farm already has fencing, barn, irrigation pumps, wells, etc. it will be asset to your new property.

5. Site Evaluation:

Visit the farm a couple of times to evaluate the site for your farming purpose. Check on the farm has good sunlight exposure? Is the farm located in a high valley that has its own micro climate? Analyse whether the soil is suitable for cultivating crops, fruits or vegetables with good yield.

6. Legal rights / Encumbrances:

Make sure the entire title report and the full attachments that go along with the property. Hire a lawyer if need to review the documents. Typical easements include road, power and irrigation easements. Know who can come onto your property and to what extent.

7. Neighbours:

Neighbours are an important asset to our house we live. Make sure you try to meet your neighbours beforehand, if possible, and get on good footing before you buy. A neighbour who makes your living peaceful without hassle. A good neighbour is indispensable in the rural setting. There will be times when you need them.

8. Taxes and other levy:

Have clear idea about the taxes and other government levy’s to be paid every year. The electricity charges, servant wages in that locality and other charges related to the farm land. This might require for budget planning and expense management.

9. Land /Soils:

Examine the soils, water, land area and irrigation facilities is also a good idea. You can bring up a aerial view of the property. You can get idea about the property locality, segments, animal units, houses, crops, etc. If you are interested in organic production, it is wise to test your soil for heavy metals and residues that may inhibit your ability to grow organically. This can be expensive but worth investment.

10. Water:

Water is most important resource for a farm land. Ensure sufficient water resources are available on your property. Check for irrigation method like centralised irrigation, etc.  Also check your drinking water sources, water treatment and power plant for water. How the current water sources are utilised. Check for the availability of ponds, creeks, wells or waterfalls. Most of all is willing to spend some extra time and money for peace of mind.

Knowledge is everything.

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Coming back home

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