Mumbai, India’s commercial capital, saw yet another
year of tepid real estate leasing activity in 2014 as the overall
leasing activity dropped to its lowest in five years, despite a demand
revival in the last three months of the calendar year, according to a
report by commercial real estate consulting firm Colliers International.
Absorption of commercial real estate in Mumbai fell to 3.12 million sq ft in 2014, down 44% from 2013.
The trends in leasing of commercial real estate in Mumbai was in contrast with those visible in the rest of the country. Office space leasing across India saw a year-on-year rise of 11% at 35 million sq ft, the Colliers report said. Leasing activity was dominated by Bengaluru with a 39% of the overall market, followed by Delhi and the National Capital Region (22%) and Pune (14%).
“The improved economic sentiment in India has led companies revisit their office space requirement and future expansion plans. Some of this was reflected in the total space absorbed in 2014. We anticipate more robust expansion plans in 2015,” says Surabhi Arora, associate director (research) at Colliers International.
Read entire article on http://mchithane.org/Mumbai-sees-yet-another-year-of-tepid-real-estate-leasing-activity.html
About us
MCHI-THANE has always been very clear that fine housing complexes and shopping malls cannot stand in isolation. A great City is the sum total of great buildings, great infrastructure and great people. MCHI has been committed to growth of the real estate sector and is credited with the harmonious growth and rise in quality and standards of construction in Thane City in the past decade.
Its aim as an Association of Developers has been to seek rational rules and regulations which are uniformly applied across the board as this will to a great extent result in speedy construction, cost reduction, fair pricing and a push for better quality standards at par with the developed world, with a high level of transparency.
Contact us at - (+91) 9833 4583 23 or Email us - mchithane@gmail.com
501, 5th Floor, Plot No - A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) - 400 604, Maharashtra, India
MCHI-THANE has always been very clear that fine housing complexes and shopping malls cannot stand in isolation. A great City is the sum total of great buildings, great infrastructure and great people. MCHI has been committed to growth of the real estate sector and is credited with the harmonious growth and rise in quality and standards of construction in Thane City in the past decade.
Its aim as an Association of Developers has been to seek rational rules and regulations which are uniformly applied across the board as this will to a great extent result in speedy construction, cost reduction, fair pricing and a push for better quality standards at par with the developed world, with a high level of transparency.
Contact us at - (+91) 9833 4583 23 or Email us - mchithane@gmail.com
501, 5th Floor, Plot No - A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) - 400 604, Maharashtra, India
No comments:
Post a Comment