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 »
The demand for student housing is expected to see a rapid growth in India and real estate firms should tap opportunity in this segment to beat current slowdown in the residential market, according to JLL India. The consultant advised builders to convert their under- construction housing projects into student housing, which has immense scope to… Read More »
Delhi’s Connaught Place is the world’s 9th most expensive office location with annual prime rent of USD 105.71 per sq ft, says property consultant CBRE. Mumbai’s Bandra Kurla Complex (BKC) is at 19th position while the central business district (CBD) of Nariman Point is at 30th place in the CBRE’s Global Prime Office Rents report.… Read More »
Private equity funding in Indian office assets in 2017 will surge four-fold to $3.5 billion — beating the 2014 peak, said international property consultant Cushman & Wakefield, pointing to unabated interest of global and domestic institutional investors in commercial real estate. Buoyed by stability in the commercial sector as well as potential to list under… 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
In 2017, nearly 11.1 million sq. ft. of office supply will be completed in Bangalore, 50% of which will be concentrated in the ORR belt with the remainder of the supply to be spread across Whitefield, North Bengaluru and Electronic City, said a recent report by Colliers international. Although the future supply pipeline looks substantial… Read More »
According to the report, coworking operators leased only 1.2 million sq ft in 2016, which accounted for 3% of the overall leasing volume. “We also foresee that the concentration of coworking space will intensify further in Bengaluru, Mumbai, and Gurugram (Gurgaon) due to the availability of adequate infrastructure and opportunities for start-ups in those cities,”… Read More »
Property developer Nitesh Estates said it will move heavily into commercial real estate with plans to set up Grade A office space of about 5 million sqft in Bengaluru in the next three years. Nitesh, which has so far focused on residential projects for the middle and high income groups, will invest about Rs 1,500… Read More »
Real estate firm Godrej Properties has entered into an agreement with Shivam Realty to develop a housing project in Mumbai. The five-acre project will have a saleable area of one million square feet. “Godrej Properties Ltd has entered into a development management agreement with Shivam Realty to develop a residential group housing project off the… Read More »
Housing and commercial infrastructure project developers have now started developing sustainable habitats. Developers such as BESTECH India, Madhya Pradesh Housing and Infrastructure Development Board, Madhya Pradesh Police Housing and Infrastructure Development Corporation, Ireo Hospitality Company, Vatika Ltd and Conscient Infrastructure have tied up for a Green Rating for Integrated Habitat Assessment (GRIHA) for the same.… Read More »