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 »
A government resolution, issued last month, has substantially broadened the definition of IT by including a whole new gamut of services that can now be allowed in an IT park such as back offices of “travel and tourism facilitation, TV entertainment channels and sports and travel channels”. The government has also increased the floor space… 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 »
IDBI Federal Life has purchased office space for Rs 111 crore in Marathon Realty’s commercial project at Lower Parel in Mumbai. It has acquired around 61,720 sq ft office space spread over two floors in the project ‘Marathon Futurex’. “IDBI Federal Life Insurance Company Ltd has bought commercial space worth over Rs 111 crore at Marathon… 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 »
The proposed Oshiwara District Centre (ODC) is likely to become commercial hub in the suburbs with its real estate prices expected to rise by 25-30 per cent over the next 3-4 years, on the back of infrastructure and commercial development in the region, as mentioned in a HDFC Realty report. “ODC will be developed by Mumbai Metropolitan… Read More »
The 12-acre project in Gurgaon would be developed at a cost of Rs 1,100 crore and has a total leaseable area of 2 million sq ft. Realty major DLF has given an about Rs 800 crore contract to L&T for construction of its new office complex in Gurgaon. The construction of this office project has started and… Read More »
The share of ecommerce firms taking up office space in the leading cities rose from 2% in 2014 to 6% last year, CBRE said. Currently, Bengaluru leads in rentals and leases by ecommerce companies, followed by Gurgaon and Mumbai, according to CBRE. Startup companies like Flipkart, Snapdeal have consolidated their operations into single office to… Read More »
