In what is seen as a boost to commercial real estate, which is currently in bad shape, the revised draft of the development plan (DP) has proposed an FSI of 5 for office spaces in Mumbai. According to the revised DP, any plot in commercial, residential or industrial zones, measuring more than 3,000 sqm, can avail… Read More »
The commercial real estate sector is witnessing increased interest from private equity funds, with several large institutions focusing on completed and leased commercial assets for investment. In 2015, private equity real estate firms deployed more than $5 billion in Indian real estate companies and projects -the highest since the financial crisis of 2008 -through 90 deals,… Read More »
A survey by a real estate services firm says the average age of top-end office spaces in Mumbai and Delhi is 11 years — at par with Singapore. According to the survey, Beijing and Shanghai have the newest office stock in the Asia-Pacific region, with an average age of eight years, while Hong Kong has… Read More »
In 2014, Ceejay House, located in Mumbai’s Worli area and having a gorgeous view of the Arabian Sea, had virtually no space to lease out. But in the past one year, a fourth of the building is understood to be vacant, with several tenants having moved out. At the peak of the real estate boom in… Read More »
A rise in demand for office spaces in the last one year coupled with shortage of new supply in key mi cro-markets has pushed up office rentals across top markets. Rentals in Gurgaon’s rose 13% in the last one ye Cyber City area rose 13% in the last one year while those in Bengaluru’s Whitefield and… Read More »
Apple is in talks to lease over 40,000 square feet of office space in Bengaluru where it intends to set up a development centre, three people familiar with the development said. “The company has signed the letter of intent with Galleria, a mixed use project in Yelahanka in Bengaluru,” one of these people said. Galleria is… Read More »
Top Indian cities have seen a significant rise in large office space transactions with companies across sectors expanding and consolidation operations, kindling hopes of a revival in an otherwise lacklustre real estate industry. India’s top six property markets reported 236 transactions for large office spaces — of at least 25,000 square feet and up to… Read More »
Bengaluru, which has a total stock of 96 million sq ft of grade-A (non-captive) office space, is currently staring at a shortfall in the supply of office space. Barely 4-5 per cent of the total space is vacant for leasing as the tech city has witnessed strong leasing activity in the last few years. Even… Read More »
Developers constructing luxury commercial spaces in Mumbai, the country’s most expensive real estate market, are set to cash in on a series of steps outlined in the draft Development Plan 2014-34 being prepared by the Brihanmumbai Municipal Corporation. After permitting higher FSI up to five times the plot size for certain categories of commercial buildings,… Read More »
Bengaluru is staring at a shortfall in office space this year, with demand pegged at 10 million sq ft while supply is expected to be 8-8.5 million sq ft. Barely 4-5% of Bangalore’s total stock of 96 million sq ft of grade-A non-captive office space is available on lease, according to a real estate services firm. In… Read More »
