Office space absorption
New Delhi- The year 2012 saw a dip in the office space absorption of about 23 percent with 29 million sq ft in all the major cities. With the flourishing global uncertainties and Indian economy slowdown, corporates in major cities were quite alert about expanding their business midst such market conditions. The 8 major cities, NCR, Mumbai, Bengaluru, [...] Continue Reading »
Bangalore- Bangalore’s office market which has witnessed an annual growth rate of 12% in the past four years, is expected to touch 100 million square feet by 2016, revealed a report by Jones Lang LaSalle. That is a doubling of the stock in just seven years from 2009, and a 50% expansion to the current [...] Continue Reading »
Chennai witnessed the highest absorption of office space at 1.32 million sq. ft in the third quarter of 2012 while Bangalore and Hyderabad witnessed an absorption of 1.25 million sq ft and 0.50 million sq ft respectively, according to a report by Cushman & Wakefield. The report said that this trend is due to the [...] Continue Reading »
After a slowdown in the first two quarters of 2012, India is witnessing a rise in demand for commercial rental spaces. Major cities such as Mumbai, Delhi-NCR, Bangalore, Chennai, Hyderabad, Pune, and Kolkata saw a total of 7.6 million sq ft office space absorption in the July to September as compared to 5.9 million in [...] 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 »
The office space market in Bangalore seems to have taken a hit as office space absorption has been dropping by about 12 percent quarter-on-quarter. According to Jones Lang LaSalle (JLL) India, the first quarter witnessed growth due to companies like Axis Aerospace & Technologies leasing space in Vaswani Centropolis, KPMG leasing space in Salarpuria Hallmark [...] Continue Reading »
While reports pointed out an increase in office rentals, a study by real estate consultancy Jones Lang LaSalle (JLL) shows that there has been a 35 per cent dip in office space absorption in seven major cities, as of June 30, 2012. The report states that the supply fell by 52 per cent during the [...] Continue Reading »
Indian realty market witnessed nosedive in the April-June quarter of 2012. Sales volume and absorption rates were low in the residential sector. High inventory and slow execution of projects, were the major concerns. The commercial real estate market experienced low office space absorption and a slight drop in rentals in the metros. Experts feel that [...] Continue Reading »
Although the real estate market remained sluggish, nearly seven million sq ft of office space were leased out during the April-June period, says a survey. Major cities like Delhi NCR, Mumbai and Bangalore have totalled over 75 per cent of the entire space absorbed during the three month period, according to a report by global [...] Continue Reading »
The first two quarters of the ongoing year 2012 have seen 21% decrease in office space absorption across key metro cities in India. The office space absorption in this year being 13.4 million square fee while it was 16.9 million square feet at the same period in 2011. According to the latest Cushman & Wakefield [...] Continue Reading »
