Commercial real estate
The service sector is expected to revive demand for office space with an estimated absorption of 28-30 million sq ft by the year-end. Jones Lang LaSalle India says that the service sector is likely to drive demand for commercial real estate. An 8.5 percent growth in the services sector in FY12 is an indicator that [...] Continue Reading »
Mumbai has topped the office space absorption across cities in Q3 of calendar 2012. Real estate consultancy Cushman & Wakefield reported that the total office space off-take was 2.23 million sqft (msf) in Q3, which has increased by more than 50 per cent over the previous quarter. Chennai was second with 1.32 msf in office [...] Continue Reading »
Despite an increase in vacancies and low business and investor sentiment, the office rent in various micro markets in Mumbai are still increasing. The main reason for increase in office space rental is that there is a lack of quality supply in superior locations. However, there is a basic scarcity of available good-quality, right-sized Grade [...] Continue Reading »
The revenue-share model had been introduced by malls during 2008 downturn to lure in retailers. However, the model seems to become a noose as retailers have been suffered from fewer footfalls and tight consumer spending. Phoenix Marketcity in Kurla, the biggest mall in Mumbai, reportedly has still not been able to earn a single rupee [...] Continue Reading »
Faridabad‘s commercial real estate is all set to undergo significant change. A large number of business and IT Parks are coming up in the city, which will push the commercial scenario in the city. The commercial sector has already noted an average escalation of 8-10 per cent in past six months. Faridabad-Mathura Road is the [...] Continue Reading »
The finance ministry is to meet chief executives of leading banks to discuss credit flow to the real estate and housing sectors. D K Mittal, secretary of financial services, will chair the meeting of bankers, which will record stock of credit flow to the sensitive sectors. A committee of bankers had been set up to [...] Continue Reading »
Real estate consulting firm Knight Frank in their latest report entitled ‘Economy & Realty @ Glance’ for August 2012, has stated that banking institutions have cut down on their lending to the Indian real estate sector. The report says that the waning interest of the banking sector towards commercial real estate lending has been reflected [...] Continue Reading »
According to Cushman & Wakefield, Hyderabad is expected to witness a 48 per cent increase in demand for office space compared to last year. The demand for commercial office space in the city is expected to increase moderately from the next year onwards as the economic conditions improve 2.38 million sq ft of office space [...] Continue Reading »
Begumpet, located at the centre of Hyderabad, has witnessed a rise in commercial activity. Commercial development was triggered by shifting of the Begumpet airport to Shamshabad. Earlier Airport Authority of India had imposed restrictions on the number of floors that could be constructed for a commercial building and only two floors were allowed. However, these [...] Continue Reading »
Analysts said that demand for commercial real estate has dropped around 30 per cent in the past year, due to general economic slowdown. Office rentals witnessed 15 per cent decline in rentals across many locations. In some cases it has come down by as much as 50 per cent. Credit to the commercial real estate [...] Continue Reading »
