Friday, July 4, 2014

CURRENT REAL ESTATE SCENARIO with regard to IT COMPANIES

 
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India has seen dramatic growth in the IT and ITES sector in the past decade. A plethora of real estate destinations have been set up to keep pace with the demand for quality hi-tech business space throughout the country. But there are just a few business space providers who combine a pan Indian presence with obsessive quality. There are just a few who have the expertise of creating work environments, which boost the productivity of people. There are just some who have a mission to create business and technology lifestyle spaces with the core focus of inspiring people to excel.

There is a burgeoning demand for commercial spaces in cities like Bangalore and other cities with the increasing number of multinational businesses and IT companies coming here. As of now the demand is greater than the supply. 

Most of the companies that set up their offices prefer to rent or lease out commercial spaces. All leading multinational companies viz. TCS, Motorola, Sapient, Sap Technologies, Intel, Nortel, Ocwen, Honeywell, Lucent Technologies, Intel, Accenture, IBM, DELL, Oracle, Sun Microsystems, CISCO, Siemens,   etc., look for fully fit out, fully equipped spaces as per international standards in independent facilities or pre-built for them.

Though the international businesses are setting up shop in the mega cities of India, they are still wary of the political climate changes that can occur. Even though India is a green pasture, most companies prefer to wait and watch while they set up shop here. Meanwhile, most companies prefer joint venture business arrangements and that is the reason why there are more rentals than outright purchases of property for commercial use.

The new trends in the IT Park management include Stringent quality standards with international norms that include- state of the art infrastructure, professional facilities management, Indoor air quality, High Security, High and ready connectivity, Uninterrupted power supply, Advanced telecommunications and other value added services, environment management- International business expect high standards and high precision levels.

The commercial construction boom has definitely given the support industries the right impetus- this includes infrastructure support services as well as other services. There is a great demand for UPS services, Elevators, AC’s and other logistics. A host of good companies having a good track record are reaping the harvest. 

Pune, Hyderabad, Kolkata, Chennai and Mysore are attracting IT companies in a big way. The real estate is booming all the way here and mega IT projects are on in these cities. IT parks, huge commercial buildings, shopping malls etc are coming up in all these cities in a big way. The rush has only just begun. The enthusiasm and interest by state governments reflect the kind of investments that are happening in these places. The bottom line is the need for consistent support from governments of each state. 

One of the leading or rather the torchbearers of the IT parks is Ascendas, Asia's leading provider of total business space solutions. Beyond providing science, business, high-tech and industrial parks, its seamless solutions cover the entire real estate value chain to include e-infrastructure and business networking.  A trusted partner in business space with a pan-Indian spread, Ascendas' reputation of delivering   on the business promise of taking care every client 's business space needs while they focus on their own business success, is well known. Ascendas well established reputation ensures complete peace of mind to its clientele so that they can concentrate on their business without having to contend with infrastructure hassle thus enabling customers to enjoy complete "plug-and-play" business environments in key markets in Asia. 

Established in the year 2000 and headquartered in Chennai, Ascendas (India) develops IT Parks and hi-tech buildings, as well as Built-To-Suit and Ready-Built office space facilities. The widely acclaimed International Tech Park, Bangalore, developed in partnership with the renowned TATA Group, is India's first "work-live-play" environment. It has been lauded as an icon for IT Parks in India. The flagship project has since been followed by Cyber Pearl in Hyderabad, and the International Tech Park at Chennai, which will be ready in June, 2005.
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