Global property consultants are presenting conflicting reports on India’s office space demand, creating confusion among industry experts regarding market trends.
Oracle India signs lease for 50,000 sq. ft. office space in Bandra Kurla Complex, Mumbai, at Rs. 340/sq. ft. for 9 years, valued at Rs. 183.6 Cr.
Office rentals in India stabilized in the September quarter, with varied trends across cities. Economic improvement and corporate confidence drive demand.
Residential real estate prices have increased by 10% in three months as market sentiment and transactions improve. Prices were initially cut by 30% to combat decreased demand.
IT-BPO sector's recession woes force real estate developers to shelve projects, slash rentals, and renegotiate leases in India
Public sector banks cut home loan interest rates, benefiting buyers in Mumbai's outskirts and other cities. The move aims to support the housing market, but some experts believe a greater impact would require higher loan limits and increased consumer confidence.
Public sector banks' interest rate cut for home loans up to Rs 20 lakh may induce some buying in the property market, but developers and experts believe it's not enough for a major boost.
India's office space absorption dropped 41% in the first three quarters of 2008 due to the global economic slowdown, impacting office rentals.