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residential property in the country is inflating especially
the luxury segment. Cheap housing loans and additions to existing
stock have created a push in the market values. In the commercial
property segment, demand from the IT and IT-enabled sectors
continues to remain stable in all the metropolitan cities like,
Mumbai, Delhi, Bangalore and Chennai. On account of easier availability
of land, demand for large floor space and demand for build-to-order
facilities the suburban location is usually preferred for commercial
projects.
According to the report, in Mumbai commercial rental and
capital values have remained stable despite heavy info tech
industry demand. Lease rentals in the Bandra-Kurla Complex
are Rs. 95-110 per square feet per month as compared to the
North West suburbs with a range of Rs. 30-40 per square feet
per month. In Delhi, Gurgaon continues to be the main attraction
for fresh development - 70% of the new commercial space in
the National Capital Region in Gurgaon. Rentals of office
space at Gurgaon are Rs. 35-40 per square feet per month while
the rate of Connaught Place is Rs. 85-100 per square feet
per month.
Over the last six months the Outer Ring Road in Bangalore
has emerged as a new area suitable for offices. On the residential
segment a major rise is seen in capital and rental values
in Delhi. Increased demand and limited supply in high-end
residential areas of South Delhi has increased their rental
by 20%. The residential areas of Bangalore also see an upward
rise especially in the central high end areas where a number
of developers are marketing small apartment complexes and
row houses.
Source:
www.economictimes.com
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