Occupiers across cities prefer taking up office spaces in SBDs and PBDs. The transition is driven by occupiers demand for affordable rents, Grade A offices, expansion space and transit-served markets. Propstack analysed > 25,000 sf deals in 2017. SBDs outshine CBDs. > 25000 sf Deals total area – 2017 (in msf) *Grade A… Read More »
The top 3 cities in South India will witness cumulative lease expiries of 9.7 msf. Bangalore will contribute to more than 2/3rd of these lease expiries. Since these cities are dominated by IT-ITeS occupiers, predominantly occupying large spaces, deals above 1 lakh sf will form 43.5% of the total lease expiry volume. *Grade A office… Read More »
Top 7 CRE markets in India recorded leasing activity of 26 msf in the first half of 2017 compared to 24.5 msf during the same time last year. Gross Absorption for Chennai and Noida more than doubled in H1 2017 compared to H1 2016. Hyderabad also witnessed a sizeable growth in leasing activity in H1… Read More »
Lets re-look at our past ten infographic highlights for the Indian CRE Market. IT Parks and Offices led leasing activity last year in Pune with 65% contribution in absorption. Furnished spaces seemed to be Occupiers choice last year in Pune. 60% of the total deals in 2016 were furnished with average rentals between INR 60-70/sf/month. The… Read More »
India has seen a surge in Private Equity investments in the recent years. Leading global private equity funds have invested in trophy commercial real estate assets across top cities of India to reap benefits of attractive yields. We, at Propstack, looked at the historical performance of some of the micromarkets where the properties acquired by these institutional… Read More »
Small variations in rentals per square foot make a huge difference in monthly rental outflows for a Corporate Occupier. This quarter at Propstack, we observed such a trend within the primary NCR occupier markets of Gurgaon and Noida. Contrary to expectation, the lowest and the highest warmshell rentals for deals signed in Q2 2017 were… Read More »
IT/ITeS sector deals above 100,000 sf added 3.5 msf to leasing activity till date in 2017. 100,000+ sf deals by IT-ITeS sector comprised 55% of the total space leased by such large deals this year. Also, these large IT deals contributed to 40% of total leasing volume in Q1 2017. IT-ITeS companies leased these large… Read More »
The Peripheral Business Districts (PBDs) have always been a choice for companies looking for large affordable spaces. Central Business District (CBD) locations – which have been the hub of business activity have mostly been touted as the costliest locations for commercial leasing. We tried to compare the rental difference between CBD and PBD micromarkets for… Read More »
Nine micromarkets across top 7 Indian cities recorded leasing activity more than 0.5 msf in the first quarter this year. OMR-I and OMR -II micromarkets in Chennai together contributed to more than 2 msf absorption in a single quarter. Apart from Chennai, both Mumbai and Pune had two micromarkets driving the demand higher than half… Read More »
In Q1 2017, all major southern cities of India – Bangalore, Hyderabad and Chennai, along with Pune had low vacancies. So, all these CRE markets were mostly Landlord Favourable. Noida and Gurgaon were more Occupier Favourable due to high vacancies and more options available to occupiers. Mumbai maintained neutral stance during the quarter with median vacancy… Read More »
