The year 2015 witnessed decrease in home loan interest rates coupled with various incentives being offered by developers. However, the transaction volumes in residential real estate continued to remain on the lower side across cities. Though select cities witnessed increase in enquires towards the end of the year; in general, the residential buyer was cautious.… Read More »
Office demand in the first quarter of 2016 increased by 19% to 11.7 msf (million square feet) across the top eight cities backed by high pre-commitments, as compared to the corresponding quarter last year, according to a property consultant. While the sluggish net absorption levels is marked by characteristic slow Q1 fraught by delayed decision making… Read More »
Lack of high quality office space is pushing up rentals in key business districts across the city . Rentals are up between 10% and 12% over the past two quarters, in prime locations like the Ramanujam IT Park, Ascendas and other prominent business destinations. Chennai’s real estate market attracts 4.5 and 5 million square feet… Read More »
Commercial space deals are finally taking off in Kolkata, according to a report. The last six months of the current fiscal have seen the maximum number of deals closing in the city with corporates expanding their office in Kolkata or shifting to a grade A property from their present premises. Major new entrants in the last… Read More »
In 2015, IT/ ITes contribution to office absorption was reported to be 57% for Bangalore, 64% for Gurgaon and 74% for Pune. In India, Bangalore, Pune and Gurgaon are the preferred locations among tech occupiers, primarily because of the ability to attract talent and the ability to access grade A buildings at affordable rents. Generally,… Read More »
The Chennai office space market, which has been seeing a stable demand of an average of 3.8 million to 4 million square feet a year, has seen a record demand of 5.2 million sq ft in 2015. With the demand expected to keep up the pace, lack of equivalent development in the supply side could… Read More »
According to a survey by property consultancy CBRE, India remains a top expansion destination for corporate real estate occupiers, along with South East Asia and China. It also points out that cost management and employee engagement are key issues for multinational corporations today. “Asia Pacific remains a key growth market for multinational companies but the… Read More »
Rents and capital values for prime offices are expected to grow more rapidly in 2016, according to the study by the Royal Institution of Chartered Surveyors (RICS), a standards setting body for the real estate and construction sectors. “Office demand for the last several quarters has been improving and is expected to continue in the… Read More »
According to real estate services firm CBRE, there is a 10% increase in rentals for commercial space over the past one year. The top five micro markets that saw increase in rentals are Cybercity in National Capital Region, Koramangla in Bengaluru, Andheri East and Goregaon in Mumbai and Kukatpally, Manikonda in Hyderabad. The cities that led… Read More »
