Thursday, February 7, 2008
HYDERABAD REAL ESTATE
Hyderabad witnessed new commercial office space supply of approximately 4 million sq ft across all micro-markets, with the preferred peripheral locations of Madhapur, HITEC city and Gachibowli accounting for nearly 3 million sq ft. Peripheral markets, being strategically located, and having good connectivity with residential and retail catchments such as Kukkatpally, Srinagar Colony, Mehdipatnam, Punjagutta and Banjara Hills continued to be the preferred choice for commercial office space. Of the total absorption estimated at 3.34 million sq ft, the peripheral locations accounted for the largest share of 69 per cent primarily driven by IT-ITeS companies. Quarter 2 of 2007 was the most active as 1.98 million sq ft of space was committed then. The city is likely to witness fresh supply quantum of 5 million sq ft in 2008
Wednesday, February 6, 2008
PROPERTY IN CHENNAI
IT-ITeS continued to be the demand driver for Office space in Chennai. It was followed by telecom and BFSI (banking and financial services industry) sectors. Approximately 10 million sq ft supply entered the market in 2007. About 75 per cent of this supply came from IT Parks and 21 per cent from IT SEZs. The highest influx of approximately 9 million sq ft came from suburban and peripheral regions such as Guindy, Manapakkam and Sholinganllur.
The largest absorption of approximately 4 million sq ft took place in the suburban regions due to better infrastructure compared to peripheral regions. STPI units witnessed higher vacancy rates due to the uncertainty regarding the extension of tax benefits.
The total absorption for Chennai was estimated at 6.5 million sq ft. Demand for Grade-A space was recorded at approximately 8.7 million sq ft. Of this pre-lease commitments were about 2.3 million sq ft.
Peripheral Commercial developments on the Grand Southern Trunk (GST) Road are likely to command a higher rental rate in the short to medium term over peripheral regions like Rajiv Gandhi Salai (OMR) due to better connectivity by road and rail, proximity to airport, better infrastructure, and proximity to residential pockets.
The largest absorption of approximately 4 million sq ft took place in the suburban regions due to better infrastructure compared to peripheral regions. STPI units witnessed higher vacancy rates due to the uncertainty regarding the extension of tax benefits.
The total absorption for Chennai was estimated at 6.5 million sq ft. Demand for Grade-A space was recorded at approximately 8.7 million sq ft. Of this pre-lease commitments were about 2.3 million sq ft.
Peripheral Commercial developments on the Grand Southern Trunk (GST) Road are likely to command a higher rental rate in the short to medium term over peripheral regions like Rajiv Gandhi Salai (OMR) due to better connectivity by road and rail, proximity to airport, better infrastructure, and proximity to residential pockets.
Tuesday, February 5, 2008
PROPERTY IN CHENNAI
IT-ITeS continued to be the demand driver for Office space in Chennai. It was followed by telecom and BFSI (banking and financial services industry) sectors. Approximately 10 million sq ft supply entered the market in 2007. About 75 per cent of this supply came from IT Parks and 21 per cent from IT SEZs. The highest influx of approximately 9 million sq ft came from suburban and peripheral regions such as Guindy, Manapakkam and Sholinganllur.
The largest absorption of approximately 4 million sq ft took place in the suburban regions due to better infrastructure compared to peripheral regions. STPI units witnessed higher vacancy rates due to the uncertainty regarding the extension of tax benefits.
The total absorption for Chennai was estimated at 6.5 million sq ft. Demand for Grade-A space was recorded at approximately 8.7 million sq ft. Of this pre-lease commitments were about 2.3 million sq ft.
Peripheral Commercial developments on the Grand Southern Trunk (GST) Road are likely to command a higher rental rate in the short to medium term over peripheral regions like Rajiv Gandhi Salai (OMR) due to better connectivity by road and rail, proximity to airport, better infrastructure, and proximity to residential pockets
The largest absorption of approximately 4 million sq ft took place in the suburban regions due to better infrastructure compared to peripheral regions. STPI units witnessed higher vacancy rates due to the uncertainty regarding the extension of tax benefits.
The total absorption for Chennai was estimated at 6.5 million sq ft. Demand for Grade-A space was recorded at approximately 8.7 million sq ft. Of this pre-lease commitments were about 2.3 million sq ft.
Peripheral Commercial developments on the Grand Southern Trunk (GST) Road are likely to command a higher rental rate in the short to medium term over peripheral regions like Rajiv Gandhi Salai (OMR) due to better connectivity by road and rail, proximity to airport, better infrastructure, and proximity to residential pockets
MUMBAI REAL ESTATE
Mumbai witnessed a significant drop in supply of commercial office space: only 451,160 sq ft came into the market during 2007. Many projects will, however, be completed in quarter one of 2008.
Most of the supply in 2007 came in Andheri (52 per cent), Bandra Kurla Complex and Worli. Demand continued to rise and was estimated at 4.5 million sq ft. Of this 3.1 million sq ft was pre-commitment; 1.1 million sq ft was absorption in existing second-generation buildings; and 306,160 sq ft was absorption in new buildings.
Most of the pre-lease commitments were witnessed in the peripheral locations of Thane Belapur Road and Vashi mainly by IT-ITeS companies that require larger plate area and low rental.
An anticipated supply of 13.7 million sq ft in 2008 is expected to stabilize rental and capital values by the second half of 2008. http://www.zameen-zaidad.com
Most of the supply in 2007 came in Andheri (52 per cent), Bandra Kurla Complex and Worli. Demand continued to rise and was estimated at 4.5 million sq ft. Of this 3.1 million sq ft was pre-commitment; 1.1 million sq ft was absorption in existing second-generation buildings; and 306,160 sq ft was absorption in new buildings.
Most of the pre-lease commitments were witnessed in the peripheral locations of Thane Belapur Road and Vashi mainly by IT-ITeS companies that require larger plate area and low rental.
An anticipated supply of 13.7 million sq ft in 2008 is expected to stabilize rental and capital values by the second half of 2008. http://www.zameen-zaidad.com
Monday, February 4, 2008
MUMBAI REAL ESTATE
Mumbai witnessed a significant drop in supply of commercial office space: only 451,160 sq ft came into the market during 2007. Many projects will, however, be completed in quarter one of 2008.
Most of the supply in 2007 came in Andheri (52 per cent), Bandra Kurla Complex and Worli. Demand continued to rise and was estimated at 4.5 million sq ft. Of this 3.1 million sq ft was pre-commitment; 1.1 million sq ft was absorption in existing second-generation buildings; and 306,160 sq ft was absorption in new buildings.
Most of the pre-lease commitments were witnessed in the peripheral locations of Thane Belapur Road and Vashi mainly by IT-ITeS companies that require larger plate area and low rental.
An anticipated supply of 13.7 million sq ft in 2008 is expected to stabilize rental and capital values by the second half of 2008. http://www.zameen-zaidad.com
Most of the supply in 2007 came in Andheri (52 per cent), Bandra Kurla Complex and Worli. Demand continued to rise and was estimated at 4.5 million sq ft. Of this 3.1 million sq ft was pre-commitment; 1.1 million sq ft was absorption in existing second-generation buildings; and 306,160 sq ft was absorption in new buildings.
Most of the pre-lease commitments were witnessed in the peripheral locations of Thane Belapur Road and Vashi mainly by IT-ITeS companies that require larger plate area and low rental.
An anticipated supply of 13.7 million sq ft in 2008 is expected to stabilize rental and capital values by the second half of 2008. http://www.zameen-zaidad.com
PUNE REAL ESTATE
In Pune, of the 7.8 million sq ft of supply, Hinjewadi and Hadapsar accounted for the majority of the total share. The total demand during 2007 was approximately 6.35 million sq ft of which 5.5 million sq ft was absorption and the balance 0.85 million sq ft was accounted for by pre-lease commitments.
Most of the demand for commercial space in Pune came from IT-ITeS sector, mostly centred in Hinjewadi. Suburban and peripheral locations, especially Hinjewadi and Kharadi, are fast emerging as major office hubs in Pune.
In some Micro-markets of Pune, such as Nagar Road, Yerwada, Kalyani Nagar, Kharadi, Phursunghi and Magarpatta, vacancy rates rose this year. This is attributed to the high rentals and the existence of sub-prime properties in these markets. The growing trend of companies moving into SEZs is also responsible for this trend.
Most of the demand for commercial space in Pune came from IT-ITeS sector, mostly centred in Hinjewadi. Suburban and peripheral locations, especially Hinjewadi and Kharadi, are fast emerging as major office hubs in Pune.
In some Micro-markets of Pune, such as Nagar Road, Yerwada, Kalyani Nagar, Kharadi, Phursunghi and Magarpatta, vacancy rates rose this year. This is attributed to the high rentals and the existence of sub-prime properties in these markets. The growing trend of companies moving into SEZs is also responsible for this trend.
Saturday, February 2, 2008
PUNE REAL ESTATE
In Pune, of the 7.8 million sq ft of supply, Hinjewadi and Hadapsar accounted for the majority of the total share. The total demand during 2007 was approximately 6.35 million sq ft of which 5.5 million sq ft was absorption and the balance 0.85 million sq ft was accounted for by pre-lease commitments.
Most of the demand for commercial space in Pune came from IT-ITeS sector, mostly centred in Hinjewadi. Suburban and peripheral locations, especially Hinjewadi and Kharadi, are fast emerging as major office hubs in Pune.
In some Micro-markets of Pune, such as Nagar Road, Yerwada, Kalyani Nagar, Kharadi, Phursunghi and Magarpatta, vacancy rates rose this year. This is attributed to the high rentals and the existence of sub-prime properties in these markets. The growing trend of companies moving into SEZs is also responsible for this trend
Most of the demand for commercial space in Pune came from IT-ITeS sector, mostly centred in Hinjewadi. Suburban and peripheral locations, especially Hinjewadi and Kharadi, are fast emerging as major office hubs in Pune.
In some Micro-markets of Pune, such as Nagar Road, Yerwada, Kalyani Nagar, Kharadi, Phursunghi and Magarpatta, vacancy rates rose this year. This is attributed to the high rentals and the existence of sub-prime properties in these markets. The growing trend of companies moving into SEZs is also responsible for this trend
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