Office space absorption in Delhi-NCR declined by over 8 per cent last year due to sharp fall in supply but the situation is expected to improve in 2017 with completion of several commercial projects, according to a property consultant. According to the data, office space leasing stood at 8.6 million sq ft during 2016 compared to 9.4… Read More »
Office space inventory at peripheral locations such as Manesar, Greater Noida and the extended parts of NH-8 has lead to nearly one-third, or about 32%, of quality office space in Delhi NCR remaining vacant, according to a property consultancy. However, the picture isn’t that bad if these locations are excluded. Delhi NCR’s office vacancy rate significantly drops… Read More »
The Real Estate Regulatory Act (RERA) cleared by the Cabinet this year seeks to bring in much-needed transparency in real estate transactions to improve home buyer confidence. Interestingly, while the ministry of housing and urban poverty alleviation has notified certain sections of the Act (states have to establish a real estate regulatory authority and appellate… Read More »
Delhi-NCR has recorded 39 per cent increase in net office space absorption at 2.4 million sq ft in the first half of this year on the back of a few large-sized leasing transactions, according to a property consultant.Net leasing of office space stood at 1.7 million sq ft in January-June of 2015. The increase in… Read More »
DLF, the country’s largest real estate developer, is planning to bring its mall assets under separate special purpose vehicles (SPVs) so that it can sell stakes in them and convert them into real estate investment trusts (REITs) in the future. The company could raise as much as $1 billion through this route, a executive aware of… Read More »
As per a recent trend, lot of corporates are finding their new offices in Delhi’s Aerocity. The 45 acres modernization plan proposed by the GMR Group led by Delhi International Airport Ltd (DIAL) for the IGI airport has brought forward Aerocity as a new commercial space for offices to be in the national capital. Read… Read More »
Net absorption of office space fell by 11 per cent in Delhi-NCR to over 7 lakh sq ft during January-March with corporates focusing on consolidation and relocation, according to a report. The net leasing of office space stood at nearly 7.96 lakh sq ft in the year-ago period. The fall was steeper at 37 per cent compared… Read More »
American PE fund Blackstone is in talks to acquire two commercial office towers in central Delhi from Parsvnath Developers and PE fund Red Fort Capital for Rs 550 crore, said two people with knowledge of the development. The two towers on Bhai Veer Singh Marg, which is near Connaught Place, have around 300,000 sq ft of… Read More »
In 2015, IT/ ITes contribution to office absorption was reported to be 57% for Bangalore, 64% for Gurgaon and 74% for Pune. In India, Bangalore, Pune and Gurgaon are the preferred locations among tech occupiers, primarily because of the ability to attract talent and the ability to access grade A buildings at affordable rents. Generally,… Read More »
