Delhi NCR sees a significant drop in commercial real estate rentals as businesses shift from Gurgaon to more affordable locations, impacting transportation costs.
Atria group plans to expand its Indian hospitality sector portfolio with 1500 new rooms across multiple cities, including the launch of Atria Grand in 2009.
A global real estate consultant warns that the US economic slowdown could reduce demand for IT/ITeS office space in Gurgaon and Noida in 2H08, impacting growth in Delhi NCR suburbs.
Rising interest rates and new DDA flats are causing panic among real estate investors in Delhi NCR. Investors are selling back to developers or pushing for quick sales, while experts advise end-users to wait for potential price corrections post-festive season.
A slowdown in real estate is observed, with residential transactions down 20-25%, while Mumbai experiences high demand despite challenges from rising interest rates and inflation.
Office rentals in Gurgaon declined by 8% in Q2 2008 due to increased supply and reduced demand. The report highlights preferred locations like MG Road, Golf Course Road, and DLF Cyber City. Noida remains an attractive option for IT/ITeS companies.
DLF Ltd plans to develop eight shopping malls in metros this financial year, focusing on leasing commercial spaces.
Real estate speculation declines in Delhi-NCR due to price stabilization, impacting developer sales and project timelines.
Parsvnath Developers launches Parsvnath Preston in Sonepat, aiming for Rs. 500 crore profit. The project offers 1200 units, with 500 in the first phase, spanning 2.2 million sq ft.