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 »
Robust demand from occupiers and limited supply of grade A offices have continued to push rentals in prime Indian office space markets including Mumbai’s Bandra-Kurla Complex, Connaught Place in New Delhi and Bengaluru’s MG Road. In terms of rental growth, Connaught Place with 10% year-on-year rise is second only to Hong Kong, followed by Tokyo… Read More »
The commercial real estate sector is witnessing increased interest from private equity funds, with several large institutions focusing on completed and leased commercial assets for investment. In 2015, private equity real estate firms deployed more than $5 billion in Indian real estate companies and projects -the highest since the financial crisis of 2008 -through 90 deals,… Read More »
If demand for office spaces for both consolidation and expansion of businesses is seeing consistent growth over the last few quarters, could a pickup in home sales be far behind? Office leasing saw a record level of 36 million sq ft in 2015 and leasing activity has remained strong in 2016 so far. While earlier we… 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 »
Bengaluru, which has a total stock of 96 million square feet of grade-A (non-captive) office space, is currently facing a shortfall in the supply of office space. In 2015, 14-15 million square feet got leased out. This includes a good volume of pre-committed space, which will be occupied over the next two-three years. Interestingly, the trend of… 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 »
For office sector, year 2016 kick started on a positive note with office absorption totaling over 8.8 million sq ft across nine major cities in the March quarter. This includes pre-commitments of about 0.8 million sq ft. This was about 11% up from the previous quarter. Strong positive absorption from technology firms helped further gains… Read More »
With rising growth of ecommerce and internet-based businesses in India, the country is logging a growth rate of 25-30% for third-party or co-location data centers, which is spurring demand for real estate space for setting up these hubs in cities such as Bengaluru, Mumbai, Delhi, Chennai, Hyderabad, Pune and Jaipur. But despite the demand, property… Read More »
Major office hubs in Chennai continues to attract corporate occupies, during the first quarter of 2016, most of the demand for prime office space was driven primarily by the IT/ITeS, BFSI and insurance, engineering and manufacturing sectors, according to a recent CBRE report – India Office marketview – Q1, 2016. Read more: Economic Times