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 »
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 »
The year started on a high-note for CRE industry in Mumbai. More than 2.5 msf of space was leased in Q1 2017. Western and Eastern Suburban locations together contributed to nearly 50% of the leasing in first quarter. *Grade A data only and Includes renewals To get more CRE market insights login to www.propstack.com
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 »
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.
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.
Total volume of Lease expiries in Bangalore is expected to cross 9 msf in 2017. Witnessing quarterly increase since beginning of year, total area of lease expiries in Q4 2017 is expected to be above 3 msf. The 200+ leases expiring in 2017 have average monthly rent of INR 57/sf/month and add upto nearly 56 crores… Read More »