SNIPPETS

Whitefield emerges asmost searched locality

Whitefield in East Bangalore emerges first in the rank of the most searched localities of 2012 for buying property, according to a survey conducted by a property website.

Improved infrastructure, new project launches and increased connectivity has resulted in the growing popularity of the area. 

This data has been derived by analysing the search trends of users on the website in the year 2012.

The second most searched locality by users looking for property purchase in Bangalore is JP Nagar. Marathahalli, Sarjapur Road and Bannerghatta Road are other popularly searched localities in the City. 

The real estate in Bangalore seems to be on track for a steady growth and is probably one of the best stable performing markets in Southern India. There have been a whole lot of new project launches and infrastructure development adding to the growth of the City.

Detailed analysis of the search trends for renting property shows that localities of East and South Bangalore have been most searched for by people looking to stay on rent. Marathahalli takes the first rank, Koramangala, JP Nagar and BTM Layout have also emerged as the popular localities for renting purposes.

DHNS

Gaping at a huge labour shortage

In India, labour shortage is pegged to go up by 65 per cent by the next decade with more workforce moving from traditional brick and mortar industry like the construction and real estate sectors to more lucrative industries such as IT, ITeS, banking, telecom and others. 

The acute labour shortage in the construction sector is going to drive the industry to go in for large-scale mechanisation and also project management, according to a report titled ‘Indian Construction Sector – The Great Leap Forward’, by a global project management consulting and turnkey solution company.

The comprehensive report has clearly indicated that the future of the construction sector will hinge on project management, mechanisation and pre-cast or prefabricated technology, to meet the challenges of cost, quality and time.

The report highlights the industry’s constant struggle to manage cost, quality and time in construction projects.  

It has pointed out that with the cost of material expected to double in the near future, the sector in India has no other option but to adopt and blend in global best practices. In order to survive and sustain, the sector has to go in for large scale mechanisation and outsourcing of project management services.

It said that the rate of mechanisation in India at 20 per cent was low compared to the developed countries where it was between 60 and 70 per cent. 

With India at the cusp of rapid urbanisation and development, there was ever-increasing demand for commercial and residential space and it could be met only through adoption of mechanisation and project management practices.

With rapid development across Tier II & III cities, India will witness acute labour shortage in the coming years. It is here that project management services will provide the customer with a one-stop professionally trained and proven solution that will enable integrated and supervised project implementation, from design to delivery. The report there was distinct labour trend.

In 2002, the number of labourers required to build half a million sq. feet was about 700-800 construction workers and in 2012 with gradual mechanisation it had come down to about 200 workers and by 2022, it would reduce further to 150 workers.

Time’s ripe for your dream home

The report said that the present times were appropriate for those wanting to invest in either their dream house or commercial property, as there are indications of increase in prices by nearly 50 per cent, based on RBI projections.

Additionally, without proper project management practices that involve design, construction related activities, management of work schedules etc, there could be time overruns in the delivery of the project. 

This is likely to increase the overall cost of construction. 

Therefore, the RBI projections notwithstanding, the overall project implementation practices also impact on the cost, quality and time of projects, particularly the residential and commercial ones. 

DHNS

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