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 »
Noida is emerging as a hub for smartphone makers. While the city earlier housed assembly and manufacturing facilities, a number of mobile handset makers are setting up offices and research units there. Chinese handset manufacturer Vivo leased 250,000 sq ft in the World Trade Centre at Greater Noida for its office, R&D centre and manufacturing… 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 »
Realty firm Elan group has bought 7 acres of land in Gurgaon from Essel group’s Suncity Projects for about Rs 120 crore to develop a commercial project. The company will invest another about Rs 400 crore on construction of this mixed-use commercial project comprising a total developable area of 1.3 million sq ft. “We have purchased 7… 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 »
New Delhi’s Central Business District Connaught Place is seventh among the most expensive prime office markets in the world with an annual occupancy cost of $149.71 per sft, according to the latest edition of property consultancy CBRE Research’s Global Prime Office Occupancy Costs survey. Bandra Kurla Complex (BKC), Mumbai’s Alternative Business District, stood at 19th… Read More »
Ecommerce businesses have emerged as a major demand driver for warehousing in the national capital region, and demand from this segment is likely to rise 60% to 8 million by 2020, says a report by property consultancy Knight Frank India. At the end of April 2016, warehousing space requirement in the NCR was estimated to… Read More »
The Gurgaon administration has proposed to slash circle rates of properties by 15% this year to help revive a slumbering real estate market that is in the grip of a prolonged downturn. If the Haryana government approves the proposal, it will be the first time in recent history that Gurgaon, a premium real estate market, will… Read More »
A rise in demand for office spaces in the last one year coupled with shortage of new supply in key mi cro-markets has pushed up office rentals across top markets. Rentals in Gurgaon’s rose 13% in the last one ye Cyber City area rose 13% in the last one year while those in Bengaluru’s Whitefield and… Read More »
Investment in office space this year could surpass Rs 17,000 cr in 2015 in India. Delhi-NCR and Mumbai had attracted the major chunk of this investment. The study further said India’s relatively new and inexpensive office space should be attractive to corporate occupiers. Moreover, investors should also look at India if they are looking to buy… Read More »