IT/ITeS sector deals above 100,000 sf added 3.5 msf to leasing activity till date in 2017. 100,000+ sf deals by IT-ITeS sector comprised 55% of the total space leased by such large deals this year. Also, these large IT deals contributed to 40% of total leasing volume in Q1 2017. IT-ITeS companies leased these large… Read More »
The Peripheral Business Districts (PBDs) have always been a choice for companies looking for large affordable spaces. Central Business District (CBD) locations – which have been the hub of business activity have mostly been touted as the costliest locations for commercial leasing. We tried to compare the rental difference between CBD and PBD micromarkets for… Read More »
Nine micromarkets across top 7 Indian cities recorded leasing activity more than 0.5 msf in the first quarter this year. OMR-I and OMR -II micromarkets in Chennai together contributed to more than 2 msf absorption in a single quarter. Apart from Chennai, both Mumbai and Pune had two micromarkets driving the demand higher than half… Read More »
In Q1 2017, all major southern cities of India – Bangalore, Hyderabad and Chennai, along with Pune had low vacancies. So, all these CRE markets were mostly Landlord Favourable. Noida and Gurgaon were more Occupier Favourable due to high vacancies and more options available to occupiers. Mumbai maintained neutral stance during the quarter with median vacancy… Read More »
High hopes are pinned on Real Estate Regulation Act (RERA) as it is yet to be implemented in West Bengal. However, several consumers, who have been facing problems in getting the possession of their property feel that they will soon see better opportunities. Anshu Ruia (34) had put in his hard-earned money into DLF Galleria… Read More »
The realty-focused investment unit of global private equity firm KKR & Co. LP invested about Rs1,000 crore in three real estate projects last month, two people aware of the investment said. KKR India Asset Finance Pvt. Ltd invested about Rs500 crore in a township project of Bhartiya City Developers Pvt. Ltd in Bengaluru, Rs200 crore… Read More »
The year started on a high-note for CRE industry in Mumbai. More than 2.5 msf of space was leased in Q1 2017. Western and Eastern Suburban locations together contributed to nearly 50% of the leasing in first quarter. *Grade A data only and Includes renewals To get more CRE market insights login to www.propstack.com
Global construction company Leighton has bagged a Rs 500 crore contract to develop realty firm Vipul Ltd’s luxury housing project in Gurugram. Vipul Ltd is developing 370 units, comprising 1 million sq ft of built up area, in the first phase of this 20-acre project. “We have awarded a Rs 500 crore contract to Leighton… Read More »
Emerging markets investor Xander Group has acquired the technology special economic zone (SEZ) of the diversified Shriram Group in Chennai for Rs 2,290 crore, or $350 million. Shriram Properties and real estate investor SUN Apollo had put Shriram Gateway, a 4.6-million-sqft integrated development on sale, which had attracted interests from GIC of Singapore and Asian… Read More »
Gurgaon-based TOP Technologies, the parent firm of coworking platform The Office Pass, has raised $245,000 (Rs 1.5 crore) in a seed funding round led by Arun Tadanki, former managing director of Yahoo India & Southeast Asia. The funds will be deployed in enhancing the platform and hiring technology and product talent. “We aspire to connect… Read More »
