KOCHI: Prestige Group, a leading property developer that owns IT complexes in major cities, has started piling work of its IT project, Prestige Cyber Green-I, at SmartCity Kochi. Prestige Cyber Green-I, the company's first project in SmartCity, is coming up in an area of 4.61 acres. It will have a total built up area of 8,77,630 sq. ft. and a leasable area of 5,39,800 sq. ft. "Prestige Cyber Green-I is our first IT project in Kerala. We look forward to attract some big names in the IT sector by offering world class facilities," said Thankachan Thomas V., senior vice-president, Prestige, Kerala. He added that the state in general and SmartCity in particular offers huge potential for growth in the IT sector.

The year 2017 saw a paradigm shift in how India invests its money. While still reeling under the impact of demonetisation, the year saw an introduction of major policy changes as well as the boom of newer and riskier investment avenues, including Bitcoin and other crypto- currencies. Coming to real estate, 2017 was a roller coaster ride, with policy changes leading to speculations regarding the investment scenario. However, with global real estate investment activity broadly tracking last year’s pace, we saw India’s investment market attract over $5.1 billion in 2017.

The Indian residential market is showing a "price crack" for the first time in many years. In other words, prices have fallen in the second half of 2017 by a weighted average of 3 per cent across cities versus the year-ago period, property consultancy Knight Frank said in a new report. Prices in Pune declined the maximum at 7.3 per cent, followed by Mumbai (5 per cent), Bangalore (5 per cent), Kolkata (5 per cent), Chennai (3 per cent), and NCR (2 per cent). Only markets that have ready to move inventory such as Hyderabad and Ahmedabad saw prices firming up 3 per cent and 2 per cent respectively. The prices of assets in most of the cities have dipped while consumer price inflation (CPI) has risen.

MUMBAI | BENGALURU: Homebuyers are increasingly showing a preference for buying ready-to-move-in apartments against under-construction homes as builder delays and defaults increase. The trend indicates that consumers are more interested in certainty related to such ready apartments than saving money by booking an under-construction apartment that offers deferred payment facility.