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Tuesday, 4 December 2012

Commercial Real Estate in India witnesses increase in demand


that includes office spaces and retail have started experiencing increase demand after big economic slowdown in past few days.In major cities of india  near about 9.2 million sq. ft of commercial space was sold at the end of June 2012. Ravi Ahuja, executive director for development services at consultants Cushman and Wakefield India said that the sale of commercial property was 5.8 million sq. ft in April-June 2009.


It is accepted that Some 16.4 million sq. ft of retail space is expected to be available in 2010.Saleing and leasing of commercial office spaces Mumbai and Delhi-NCR rose 69% and 18%, respectively. The past report says that about 70% of transactions in Delhi-NCR have been recorded in Gurgaon, Noida and Delhi’s south business district. In Noida large multinational corporation firms from banking and IT sector are attracted to set up offices. In Mumbai, most commercial real estate projects are coming up in secondary areas.


Multinational corporation firms are looking for central locations in big metro cities this may be reason for rise in rental cost in these areas. The improved economic climate within the country making attractive market over globe.

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