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Latest Answer: Hi Mr Pavan,
As per different sources, the new government at the Centre speaks in the right language .Business sentiments have improved in the wake of a stable government that is encouraging policies in terms of relaxation of FDI norms, and taking forward investment vehicles like the REITs. This is exactly the message builders have sent to the state government. In a document to state IT Secretary TK Ramachandran, builders said high land cost is an obstacle in bagging contracts from one large automobile firm and an IT company which are waiting to enter Tamil Nadu with plans to occupy 3 million sq ft.
Latest Answer: Many foreign brands are vacating their outlets in India and going back to their homeland. I think the business is going down nowadays. But I hope, in cities there is no such issue of less business because the malls are always full with buyers and retailers, though im not sure how many of them do actually buy stuff..
Latest Answer: If sources are to be believed then out if 175 operational malls across India, only 30 are functioning and performing while the rest is running at a loss. It further says that top 20 cities in the country can absorb per capita mall space between 1 sq ft and 1.5 sq ft depending on the economic growth projections. However, currently it is below 1 sq ft for all metros.
Latest Answer: There was a marginal increase in rental value. The quarter saw pre-commitment of around 6.7 lakh sq ft, mainly by IT companies in peripheral locations of North and outer Ring Road. The all over vacancy level was registered at 14.3 percent, with Grade A properties registering a vacancy of 13 percent. According to a real estate expert, vacancy level for Grade A will remain under pressure, but the rental values may increase in Whitefield and Outer Ring Road.
Q:Hi, I am planning to start my office at Mumbai or NCR. Please suggest me which is better option. I want to know about the condition of commercial real estate in these cities.