Lets re-look at our past ten infographic highlights for the Indian CRE Market. Bangalore to witness more than 9 msf of lease expiries in 2017 Demonetization impacts Mumbai office sales negatively 10,000+ sf deals dominate Gurgaon absorption in 2016 3,000 Crores (~ $ 0.5 Bn) annual rents expiring across India in 2017 2.6 msf lease… Read More »
10000+sf deals contributed to nearly 90% of the total leasing activity witnessed in Bangalore in 2016. Last quarter of the year contributed maximum volume of area leased- 35% for these large deals. Information Technology (IT) and BFSI sectors contibuted nearly 70% of the total 10,000 + sf deals volume for Bangalore last year. *Grade A data… Read More »
10000+ sf deals constituted 1/3rd of the total lease deals in Mumbai in 2016. Smallest deal size of up to 2,500 sf contributed to 26% of the deals last year. Largest deals of above 50,000 sf had the lowest average rental value of INR 102/sf/month, while 5,000 sf to 10,000 sf deals had highest average rental value… Read More »
Information Technology (IT) sector continued to dominate the leasing activity in India in 2016. Together, IT and BFSI contributed to nearly 69% of the leasing volume last year. Bangalore dominated the city-wise contribution to IT sector leasing with 36.7% share, followed by Pune. *2016 Grade A lease data only
Chennai recorded leasing volume of 1.5 msf in the first quarter of 2017 – highest for the same period in the last five years. This increase was driven mainly by renewals and expansion of existing tenants such as: Average rentals in Chennai were between INR 55-60/sf/month. Average deal size for Q1 2016 was 48,000 sf.
In one of the biggest front office transactions so far this year, consumer durable major Samsung India Electronics has leased 1.10 lakh sq ft office space in Oberoi Realty’s commercial complex Commerz II in Goregaon suburb of Mumbai, said two persons familiar with the development. The company will be paying rentals of Rs 145 per… Read More »
Pune recorded increase in leasing and no. of deals in Jan-Feb’17 compared to Jan-Feb’16. Higher number of deals in suburban locations and increase in rates for furnished spaces drove average transacted rentals upwards. Vacancy levels declined during the same period.
Singapore’s sovereign wealth fund GIC Pte. Ltd and private equity firm Blackstone Group Lp have emerged as the two top global investors in India’s real estate sector after almost a decade of investing in the country. Canada’s Brookfield Asset Management Inc. is fast moving into the big league. GIC and Blackstone, which have different investment… Read More »
Microsoft is close to signing a nine-year lease deal with Prestige Group for a 600,000 sq ft office space in Bengaluru, three people aware of the development said. “The deal is in the final stage of closure,“ they said, adding that the lease is renewable every three years. The Redmond-based technology company , which currently… Read More »
US-based fintech company FIS Solutions has renewed its lease of over 2.28 lakh sq ft office space at Westend Center One in Pune’s Aundh locality, two persons familiar with the development said. The Jacksonville, Florida-based company, earlier known as Sunguard Solutions, will pay monthly rental of Rs 54 per sq ft, taking the total lease… Read More »