Leasing of office space to start from 2015
Property consultant, CBRE stated that the leasing activity for official purposes is being expected to see any rise until next year however the sentiments of people involved in the real estate sector is seeing improvement. However the market representatives hope that by the start of next year the prospect in this market will improve in turn producing more benefits.
CBRE’s South Asia Chairman and Managing Director, Anshuman Magazine said that the market in Mumbai’s office space has experienced a slight rise within the April-June period than compared to the last couple of quarters and they also expect that the market will do better in the Q3 in the year 2014.
He further added that the ground realities about these segments are rarely to change by this year as far as the matter of real investments and the project funding are concerned. They however expect a recovery in the present market y 2015 when the office space leasing activity will start.
The micro markets in the Bandra, Kurla, Lower Parel and Andheri region are hopefully going to experience a high level of corporate market interest in the business. This is going to happen because of the surplus in the supply situation.
Source: The Economic Times
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