Office space
After corporators demanding new age mobile phones and insurance cover, the recent demand from a corporator has asked the Brihanmumbai Municipal Corporation (BMC) to make office spaces for all city corporators available. Samita Naik, Maharashtra Navnirman Sena (MNS) corporator from ward 202 has suggested that the corporation provide space for members on civic plots in [...] 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 »
According to property consultancy firm Jones Lang LaSalle India (JLL), consolidated absorption of office space in the past six quarters has caused appreciation of rental growth across the country. Majority of gross rental appreciation during the period from Q4, 2010 to Q1, 2012 was witnessed in tier-I cities including Bangalore, Mumbai, Delhi and Gurgaon. Chennai, [...] Continue Reading »
The recent RICS Global Commercial Property Survey shows that the demand for office space in India has fallen in the April-June quarter of 2012. The report reflects the general growing concerns about the domestic economy, which has seen downward spiraling in growth predictions, as well as weakening global climate. The report states that demand from [...] Continue Reading »
Office sales and rentals have plunged by almost a third in the last two years in Mumbai’s alternative financial district of Lower Parel. The reason is a building boom that took place after various mill land sales 4-5 years ago. In the recent years, Lower Parel witnessed launches of nine major projects, creating office space [...] Continue Reading »
Mumbai, NCR and Bangalore alone took up 75 per cent of the total office space absorbed in India in the April-June quarter. Almost 96 per cent of the entire space was left unsold and got added to the present quarter. Other cities such as Chennai, Pune and Hyderabad experienced delays in project completions. But however, [...] 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 National Capital region (NCR) is expected to observe an additional supply of 48 million sq. ft. of office space over the next three years which may lead to fall in rentals, realty consultant Knight Frank said. The majority of the office supply is likely to crop up in Gurgaon and Noida markets while the [...] Continue Reading »
Bangalore realty sector performs better when compared to any other cities of India and the main factors being price stability, wide property range and active workforce. The city has crossed all other cities of India in terms of sales in the year, 2011. Bangalore ranks tenth this year in the list of top global investment [...] Continue Reading »
Real estate leasing by Information Technology (IT) and IT-enabled services (ITes) sector firms have shown a downturn in Mumbai and National Capital Region (NCR) during this year. According to data shown by DTZ, an international real estate research firm, Bangalore boosted by the share of IT/ITes in the total office space transaction surging from 55 [...] Continue Reading »
