Correction and Recovery of Property Market - Jones Lang LaSalle Meghraj

We present to you the views of India's leading Realty Consultant - Jones Lang LaSalle Meghraj [JLLM] on the ongoing correction and Recovery of property market. JLLM study includes the cities of Delhi NCR, Mumbai, Bangalore, Pune, Hyderabad, Chennai and Kolkata. JLLM has divided the city into different areas depending on various factors and they are cateogrised as follows,

• Resistant - Despite low supply and lower historical rental appreciation, a sentiment-led correction of 10-20% is expected in these micro-markets. Recovery is expected in mid 2010 and expansion in mid 2011
  
• Fast Movers - Although micro-markets in this category are not looking at a huge supply
  pipeline, their rentals have reached unaffordable levels due to high historical appreciation. High price volatilities and negative sentiments are expected to push the rental envelope inwards. 20-25% Expected Correction. Recovery is expected in mid 2010 and expansion in mid 2011
• Followers - The followers are expected to witness a correction of 30-35% due to the huge supply that is under construction in these micro-markets. These are mostly the suburban
  micro-markets. Recovery is expected in mid 2011 and expansion in mid 2012.
• Aggresors - The aggressors are characterised by high supply as well as significant historical appreciation in rentals. Good infrastructure and proximity to the city led developers and occupiers to believe in the growth potential of these areas. 30-40% correction is expected. Recovery is expected in early 2011 and expansion in late 2011

Now we will see the areas that will fall under the above mentioned categories.

• Resistant - The suburban micro-markets of Bangalore - Whitefield and Electronic City. CV Raman Nagar, Bannerghatta Road, Inner Ring Road, Koramangala, Airport Road,
  Banashankari, Audgodi. CBD of Bangalore, Hyderabad [Begumpet, SP Road, Punjagutta, Raj Bhavan Road, Somajiguda] and Chennai.
• Fast Movers - Banjara Hills, Jubilee Hills, Ameerpet in Hyderabad. Nariman Point, Cuff Parade, Fort, Ballard Estate, Bandra Kurla Complex, Kurla, Kalina in Mumbai. Connaught Place and surrounding roads in Delhi. Park Street and surrounding roads in Kolkata
• Aggressors - Pune Cantt, Bund Garden Road, Shivaji Nagar, Deccan, Koregaon Park, Senapathi Bapat Road. Ghatkopar, Vikhroli, Kanjurmarg, Powai, Worli, Parel, Prabhadevi, Lower Parel, Dadar in Mumbai. Nehru Place, Jasola in Delhi. NH-8, MG Road, Golf Course Road, Sohna Road in Gurgaon.
• Followers - Old Mahabalipuram Road (OMR), GST Road in Chennai. Madhapur, Kondapur, Hitec City in Hyderabad. Salt lake and Rajarhat in Kolkata. Noida City, Noida – Gr Noida Expressway. Hinjewadi, Pimpri, Chichwad, Balewadi, Wakad, Pashan, Fursungi, NIBM in Pune and finally Navi Mumbai and Thane.

This is one of the best source os information based on intensive reasearch by JLLM on the Indian property market for its clients who are not just corporates but investors as well.