Propsense Q4 2017 Released Gross Absorption was 15.7 msf spread across 444 msf of total stock across the top 7 Indian cities. Cumulative Vacancy for these cities was 12.2% during end of the quarter. To know more about major deals, transacted rates, net absorption and micromarket level statistics for the top 7 cities login to office.propstack.com *Grade A office data only
Massachusetts Institute of Technology (MIT) in collaboration with Propstack has built India’s office realty rent indices for top 6 cities. These indices depict the growth of office rents since 2010. Both MIT and Propstack believe that an indicator tracking the rental growth like Rent Index can be important for an emerging market like India, promoting better… Read More »
With the recent news, 20-acre IT Park to be built in Chennai by Hiranandani Group, the city is on its way of being the next IT hub of the country. Strong leasing activity has fueled the absorption in Chennai IT parks, contributing more than fifty percent of the total. Steady increase in annual average rent… 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 »
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 »
In one of the largest real estate transactions in Bengaluru, SAP Labs India is in the process of renting a 5,00,000 sq ft of office space in the city to consolidate and expand its business in India. “SAP Labs is looking for various growth corridors in Bengaluru. They are yet to take a decision on… Read More »
Is limited supply in the office market space leading to high rentals? Market seems to indicate that commercial rental market is likely to peak anywhere between 5 and 12 per cent due to limited supply. Developers who have invested in commercial projects also said that they are seeing significant enquiries from prospective tenants with some of… Read More »
Leasing during the 4th quarter was mainly led by Bengaluru and Delhi NCR, accounting for more than 50% of the total traction, followed by Pune and Mumbai. Quarterly leasing almost doubled, with Gurgaon continuing to lead leasing activity in the NCR, constituting a share of 61%. Rents across micro-markets remained stable with the exception of… Read More »
Demonetisation has not slowed down the commercial property market, at least in Bandra-Kurla Complex (BKC). Consider this fact: In the past one month, several office lease transactions have been concluded in the business district. Most of these deals have taken place in Maker Maxity, the 18-acre office complex which is a joint venture between Mukesh… Read More »
Growth momentum in office absorption, witnessed over the last two years, is expected to continue in 2017 too. India’s top 8 property markets are likely to witness 10% surge in office space net absorption in 2017 to 32.5 million sq ft, the highest level seen over the last six years, said a report. Strengthening business… Read More »
