Khan Market in Delhi is now India's priciest retail space, with low rental growth, lagging behind Mumbai's Linking Road, as retail demand remains stable.
Experts predict that a decline in office space supply will pressure rental values, while corporate relocation and economic factors affect demand across major cities.
Mumbai's rental values dipped slightly in Q3 2023, with Lower Parel, Thane, and Navi Mumbai seeing the most leasing activity. Key business districts witnessed a decline in commercial leasing.
Chennai's real estate market shows stability, particularly in residential sales, compared to Bangalore. High demand and limited supply in city centers drive higher rentals and property values, attracting investors.
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.
India's commercial real estate sector is experiencing a slowdown due to the general economic downturn, impacting demand and rental values across major cities.