India's booming service sector fuels demand for commercial real estate, particularly in major cities. Despite economic slowdowns, IT, BFSI, and other service industries show strong growth, driving office space absorption to new heights.
Bandra Kurla Complex (BKC) is experiencing growth in office space with an expected 2.5 million sq ft addition. Leasing and buying activity has increased and the rent correction appears stabilized.
Cognizant boosts India real estate investment to $700 million, expanding campuses by 10.5 million sq ft by 2015.
UB Holdings in talks with Blackstone, KKR to sell commercial real estate for $123 million
Anand Rathi Financial Services and Knight Frank India plan to launch a Rs 500 crore real estate fund focused on commercial assets in tier I Indian cities.
High net worth investors and corporates are increasingly eyeing Mumbai's office space for investment, despite global economic uncertainty and market challenges.
Hyderabad, Chennai, and Pune rank among the world's most affordable office locations, according to DTZ's 2011 report. Hong Kong, London, and Geneva top the list of most expensive markets.
In 2011, demand for office and retail space in Bangalore showed robust growth, with a significant contribution from the IT and ITES sectors. Experts predict an even higher demand for office space in 2012.
HUL sells Mumbai property to Piramal Realty for Rs 452.5 crore. The deal includes fixed and variable components and was brokered by JLL India.
Indian companies significantly reduced their commercial real estate occupancy in Mumbai, while MNCs increased their market share in the same period, according to a new report.
A prosecution witness in the 2G spectrum case testified that real estate firms were not barred from applying for UAS licenses, and Parsvnath Developers' application was rejected.
Blue Mountain Real Estate Advisors bids nearly £750m for 42 Marriott hotels in Britain. The deal involves RBS, the primary debt holder, granting exclusivity to the Indian firm.
Bangalore’s real estate sector is set to grow by 25% in the coming year, according to CREDAI Karnataka. Commercial office space demand is rising, while residential sales are slow.
Bank lending to commercial real estate sees 12.2% growth, driven by unlisted developers taking a larger share, despite claims of credit shrinkage from listed firms.
Bengaluru's commercial real estate thrives due to its skilled workforce, quality living, and ITES sector, although real estate costs and accessibility are also significant factors.
Noida-Greater Noida Expressway to become a major hotel hub with 2,500 new rooms. Major brands like Marriott, Hyatt, and Oberoi are showing interest due to land availability and mixed-use projects.
International Amusement Limited launches The Great India Place mall in Jaipur, offering shopping, dining, and entertainment across 20 acres.
Jaipur Tourism City, a 400-acre mixed-use destination resort, promises to be India's first vacation city featuring retail, hotels, attractions, and residential spaces.
Texas Pacific Group Capital acquires 15% stake in Shriram Properties for INR 450 crore, valuing the firm at over INR 2,700 crore.
Mumbai's commercial real estate market faces a significant downturn, with a 68% drop in demand. Experts predict an interesting year ahead for the sector despite challenges.
Sayaji Hotels Ltd plans to invest Rupees 100 crore in Pune, expanding operations to include a sports club, restaurant, mall, and service apartments. The group also aims to grow in other cities like Bangalore, Chennai, and Gurgaon.
Commercial real estate demand surges as recession ends, with 9.2 million sq ft leased in three months, up from 5.8 million sq ft in 2009.
Emerging markets outpace developed nations in real estate performance, with increased lease demand but falling rents in many surveyed countries. India shows promising rental and capital value growth.
Raheja Universal, rated by CRISIL, plans to develop 70 million sq ft in Mumbai, consisting of 26 million sq ft commercial and 44 million sq ft residential.
In 2009-10, banks showed mixed responses to lending in real estate, with ICICI reducing lending while others increased, impacting residential and commercial sectors differently.