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Net absorption of office space stood at 12.16 million square feet in the third quarter of this fiscal year as against 10.69 million square feet in the year-ago period.
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Work needs to be done to clean up land records, performance indicators and data sources as well as an expansion in the size and scope of listed vehicles, especially REITs, A JLL report has said
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The improvement in affordability levels would further boost housing sales, which have risen despite increases in property prices and interest rates on home loans.
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Despite global challenges, the net leasing of office space increased by 5% to reach 10.37 million square feet in July-September across seven cities, as reported by JLL India.
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The net leasing fell to the lowest in six quarters, as per the data by real estate consultant JLL India. Chennai, Hyderabad, Mumbai and Pune saw a decline in demand, while office space absorption rose in Delhi-NCR, Bengaluru and Kolkata.
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India’s Data Centre industry is expected to add 681 megawatt of capacity by the end of 2024, doubling capacity to 1,318 MW. The industry will need 7.8 million sq. ft of real estate to achieve the target.
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Flex market to double its footprint across the top seven cities by 2025 to around 75 million sq ft; New supply of office space likely to be green-rated to an extent of 70-75 percent.
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The forecasted supply in Pune is close to 60 million sq ft until the end of 2025.
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As many as 92 percent are willing to pay a rental premium to take up certified office buildings, the survey said.
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With this association JLL aims to reach out to customers struggling to make a buy-side or a sell-side transaction in the rather unorganised resale residential market
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Lata Pillai brings 30 years of experience in banking and real estate space.
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There will be an increased focus on health and wellness aspects in the post-COVID era, which is expected to drive demand for organised co-living and student housing setups, the report said.
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India’s office market continues to recover witnessing a net absorption of 8.27 million sq. ft, an increase of 52 percent in Q4, 2020, (October-December) when compared to Q3, 2020.
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Banking executive Radha Dhir succeeds Ramesh Nair as JLL India CEO
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Puri said he was surprised with revival in office leasing activities and had earlier expected the absorption numbers to be less than 20 million sq ft.
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Bengaluru and Delhi NCR together account for more than 50% of India’s flex stock; Current market penetration of flexible workspaces in total office space stands at 3.0%; expected to move to 4.2% by 2023
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Affordability has improved across all seven major cities, despite a fall in average household income, due to reduction in both the housing prices as well as interest rates on home loans
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The deal valued at around Rs 125 crore is the first large transaction in Pune during the lockdown.
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India’s residential market was more active in Q3 2020 with sales increasing by 34 percent versus Q2 2020
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Green shoots of recovery are being seen in the residential space, real estate experts said
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The country's strata office market offers around 180 million sq ft investment opportunity; Mumbai Metropolitan Region has the highest leased space of 49 million sq ft for investments.
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By sector, retail investment took the worst hit. Encouragingly, the industrial and logistics investment market has weathered the storm so far and proven to be the region’s most resilient asset class, says Shah.
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"The Department of Investment and Public Asset Management (DIPAM)...intimated the company that CBRE South Asia Pvt Ltd and JLL Property Consultants (India) Pvt Ltd have been appointed as consultancy firms for monetisation of identified assets of BEML Ltd," the PSU said in a filing to BSE.
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According to JLL data, total warehousing leasing stood at 24.1 million square feet during January-September out of which share of auto and ancillary was only 3 percent.
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Hyderabad tops the chart in net absorption and new completions of office space, registering a 36 percent and 44 percent market share respectively.
