Gujarat is not only ranked fourth in the country in number of vacant residential premises but is also ranked fifth in number of vacant non-residential units. The union territory of Delhi tops the list of cities with the maximum number of unoccupied commercial units. In Delhi, 16.2% of commercial premises are vacant. The union territory… Read More »
Chennai’s four-lakh employee-strong IT and ITeS ecosystem is losing the race – albeit momentarily – to manufacturing and consulting firms that are briskly occupying office spaces during the first half of the current calendar year. Companies such as Renault Nissan, Ford, and other auto-component and ancillary firms and consulting firms like EY took lakhs of sq… Read More »
Delhi-NCR has recorded 39 per cent increase in net office space absorption at 2.4 million sq ft in the first half of this year on the back of a few large-sized leasing transactions, according to a property consultant.Net leasing of office space stood at 1.7 million sq ft in January-June of 2015. The increase in… Read More »
Chennai is facing a dearth of quality large format office space which could force information technology as well IT-enabled service (ITeS) companies to look to neighbouring States, according to a study by a London-based global property consultancy firm. Kanchana Krishnan, director of the Chennai branch of the firm, said that the shortage of office space is… Read More »
Space rented by e-commerce players in Bengaluru fell a steep 95% to 1,40,000 sq ft in the first half of 2016 over the same period last year. Just four transactions were reported with online travel portal MakeMyTrip and online bus tickets platform redBus being the two companies that leased out office space, according to a… Read More »
At a time when the city is facing a shortfall in its supply of commercial space, BMRCL (Bangalore Metro Rail Corporation Limited) has started advertising for leasing out spaces at the stations. Chief public relation officer BMRCL, UA Vasanth Rao, while speaking to Bangalore Mirror said, ‘This is a futuristic plan that has been envisaged by… Read More »
Real estate in many parts of the country is in bad shape. But there’s one big exception – commercial space in Bengaluru. A surge in demand, including from MNCs looking to establish or expand R&D and engineering centres, has left developers scrambling to supply quality office space in time. Some say rental costs in certain areas… Read More »
Office space absorption contracted 18% to 14.5 million sq ft in India’s top eight markets in the first half of 2016 compared to that a year ago, according to a report, which attributed the decline after six consecutive quarters of expansion to shortage of fresh supply. The report said there was office space shortage in Bengaluru,… Read More »
Enthused by the entry of technology majors such as Google and Apple, the demand for commercial office space in Hyderabad is expected to remain strong and could see upward momentum in 2016-17 boosting the number of leasing transactions, says a property consultant. Hyderabad is expected to see addition of nearly 16 million square feet of new… Read More »
The MMRDA will allow apartments to come up on plots reserved for commercial establishments in BKC. MMRDA is the special planning authority for BKC, which has emerged as the city’s leading commercial business district over the last decade. The area houses several important government offices and key private financial institutes like ICICI Bank and Crisil. “We have… Read More »
