According to the latest City Momentum Index released by global real estate consultancy JLL six Indian cities are in the world’s top 30 in terms of speed of economic and real estate development, with Bangalore ranked at number one.
Based on JLL’s Global Capital Flows data, India was among the best-performing countries in Asia Pacific in Q3, as investor confidence remains buoyed by government initiatives.
“The Indian government has laid out policies and incorporated various modifications in the last two and a half years to improve transparency in real estate along with making it easier for foreign capital to enter the Indian real estate market,” says Shobhit Agarwal, Head of Capital Markets, JLL India.
Mumbai, NCR, and Bangalore are the top three cities for investors. “These cities have received more than two-thirds of total investments,” says Agarwal. “Sector-wise, capital is going into office – core and core plus – and residential assets under development.”
In addition, government initiatives such as the Goods and Services Tax increase the need for integrated logistics services and improve interstate transportation of goods, giving the sector a boost. India’s logistics market is expected to grow to US$307 billion by 2020 according to data from The Associated Chambers of Commerce and Industry of India.