The last seven days were eventful in real estate, global affairs and science & technology. The following five are stories I highly recommend you to read:

• Home prices in India’s top six cities show resilience – developers expecting high sales growth – A healthy economic growth clubbed with the hybrid work model have been largely responsible for this healthy growth in the residential property market of the six cities. Read more
• Townships: the new frontiers of real estate in India – With the development of tier 2 and tier 3 cities on the rise, government has doubled down on the infrastructure expansion as well in these cities. With surging home prices in tier 1 cities, chunks of Indians now look to settle in the tier 2 and 3 cities, resulting a meteoric rise in the development of townships here. Read more
• Warehousing emerges as second-highest equity investment in Indian real estate – According to a report by Knight Frank, the warehouse segment in India has become a top choice for equity investment in the real estate industry, surpassing residential and retail properties. With investments already reaching $216 million in the first quarter of 2023, the warehousing sector is poised for continued growth, fueled by factors such as rising consumption, e-commerce penetration, and supportive government initiatives. Read more
• The future is AI: America and India – Last week, this phrase was making rounds on social media, as our PM visited the United States. But, this phrase is much more than a slogan. The future is indeed AI, this time Artificial Intelligence. Following the meet of the leaders of the two nations, the Indo-U.S. Quantum Coordination Mechanism has been established to facilitate joint research in quantum technology between the public and private sectors of both countries. There has also been a $2 million grant to jointly develop and commercialize AI and quantum tech. Read more
• How a human smell receptor works is finally revealed For the first time, researchers have determined how a human olfactory receptor captures an airborne scent molecule, the pivotal chemical event that triggers our sense of smell. Read more

Real estate is not just a pile of brick and mortar placed on a piece of land, it is an embodiment of human creativity and vision. Beyond its functional purpose, real estate holds the power to inspire, evoke emotions, and transform communities. In this sense, real estate is undeniably intertwined with the realm of art.

Art, at its core, is the expression of the human spirit. It is the manifestation of ideas, emotions, and cultural identity. Similarly, real estate is a medium through which architects, designers, and developers can translate their artistic vision into tangible spaces that shape the fabric of our cities and neighbourhoods.

From my perspective, every building is a work of art, with the architecture serving as its artist.

Consider the awe-inspiring architecture of iconic landmarks in every Indian city. These architectural marvels not only serve their intended purposes but also captivate our imagination, leaving a lasting impact on our collective consciousness. They become symbols of cultural identity and human ingenuity.

Art in real estate extends beyond the physical structures themselves. Interior design, landscaping, and public art installations can transform a space and elevate the human experience. From thoughtfully curated galleries in lobbies to sculptures adorning public parks, these artistic elements enrich our everyday lives and create a sense of place.

Real estate projects have the potential to serve as catalysts for artistic and cultural communities. They can provide platforms for artists to thrive and create, nurturing a vibrant ecosystem of creativity. These creative hubs not only foster artistic expression but also contribute to the revitalization of neighbourhoods.

There are some remarkable real estate projects around the world that nurture these art communities.

1. Brewery Art Colony / Brewery Art Complex (LA, USA)

• Spread over 16 acres of land, which is 21 former warehouses
• The Brewery acts as the home and office of individuals from diverse artistic backgrounds including photography, architecture, painting, industrial design, music, and more
• Regarded as the largest live-and-work artists’ colony in the world

2. Raghurajpur Art Village (Odisha, India)

• An entire village indeed, dedicated to the rich artistic traditions of the Indian state
• Located in Puri district, this village is home to some phenomenal artists from diverse backgrounds including sculptors and Pattachitra painters
• And the best part is you can visit this art village to witness the cultural events and workshops they often organize

3. La Friche Belle de Mai (Marseille, France)

• The French have always been well-known for their art, and La Friche proves this point stronger than ever before
• Over 400 artists are believed to have their workstations here
• Also home to multiple concert venues, gardens, restaurants, and sports areas; indeed, everything is art!

4. Tabakalera (San Sebastian, Spain)

• Here is an interesting background story - Tabakalera was earlier a tobacco factory, but is now remodelled as a contemporary cultural centre.
• This piece of real estate today comprises multiple exhibition halls, a cinema theatre, as well as a creation library
• Moreover, since its renovation, it has hosted exhibitions such as Summer by Julian Schnabel.

As time has passed by, people around the world have embraced the work of artists from all sectors, more and more. To support this upward trajectory, real estate projects have spawned across the globe, to provide a safe space for these artists to thrive, and I feel proud to say that India has not lacked behind.

The link between art and real estate runs deep. Real estate transcends its functional purpose and becomes a medium for artistic expression, cultural preservation, and community building. By recognizing and celebrating this connection, we can develop a more profound appreciation for the transformative power of real estate and its ability to shape our world in ways that are not only functional but also beautiful and inspiring.

I'm planning to buy a house this year but will need to finance the purchase with a loan. How can I increase my chances of loan approval?
- Tarini

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Disclaimer: This newsletter is intended for informational purposes only and should not be construed as professional advice. Please conduct your own due diligence prior to making any decisions.