India's office market was very active in 2024 with gross leasing of workspace witnessing a 19 per cent increase to a record 885.2 lakh square feet across eight major cities, according to Cushman & Wakefield. The gross leasing or absorption of office space stood at 745.6 lakh square feet in the preceding year, data from real estate consultant Cushman & Wakefield (C&W) showed.
Leasing of retail space in shopping malls and prominent high streets dropped 1 per cent to 1.63 million square feet during July-September across top eight cities, according to Cushman & Wakefield. The leasing stood at 1.63 million square feet in the year-ago period. Real estate consultant Cushman & Wakefield on Thursday released its Q3-2024 'Retail MarketBeat' report, which highlighted a sustained momentum across India's main streets, leading retail growth across the top 8 cities.
After Chennai, it is Coimbatore, Madurai, and Tiruchirappalli, that are emerging as manufacturing hubs. Coimbatore is India's top Tier-II city in terms of the number of GCCs, according to a report by Cushman & Wakefield.
Even as concerns grow over the residential real estate market reaching its peak, the outlook for office real estate remains strong, with listed real estate investment trusts (Reits) standing to benefit from sustained demand in the segment.
Hit by a demand slump in the residential sector, India is likely to witness around 25 per cent decline in land deals to around Rs 15,000 crore, realty consultant Cushman & Wakefield said.
Key office markets around the world have seen sharp increases in rents, according to Cushman & Wakefield's Office Space Across the World 2011 report.
Bangalore has emerged as a clear preference for sectors like office and retail, while coming a close third in the residential and hospitality according to Cushman & Wakefield, a retail estate research firm.
'Factors such as working professionals seeking better lifestyles, traditional housing challenges, community and networking, and urban migration for jobs are driving the growth in the co-living segment.'
At roughly Rs 71,270 crore, Ahmedabad saw the highest volume of investment by various companies in last two years among top 10 emerging business destinations, said global real estate consultancy, Cushman & Wakefield (C&W).
Let's take a look at some of the most expensive retail locations in the world.
Bengaluru ranks second after Beijing on the list of top technology hubs in the Asia Pacific region, according to property consultant Cushman & Wakefield. In its latest report 'Tech Cities: The Global Intersection of Talent and Real Estate', the consultant has identified tech markets based on 14 criteria across talent, real estate, and business environment metrics. The report has identified "Bengaluru, Chennai, Hyderabad, and Delhi as the top technology hubs in the APAC region after Beijing", the consultant said in a statement.
The expansion comes in the wake of Infosys is planning to expand the workforce at Lodz delivery centre by 500 people.
Despite the global slowdown, most prime office locations have registered a rise in the rental.
The city saw an increase of 38 per cent to 40 per cent in high-end and mid-segment residential property.
The study further said the mid-range housing segment is expected to drive the maximum demand of 45 per cent.
Global market for office rentals grew three per cent in 2011, up from just one per cent the year before, according to property consulting firm Cushman & Wakefield.
US-based CB Richard Ellis released a study yesterday showing office space take-up across key Indian cities had increased 37 per cent in the first quarter of calendar 2013, compared with the same period last year.
India is ranked 20th in the list of world's top real estate investment markets with investment volume of $3.4 billion in 2012, property consultant Cushman & Wakefield said in its latest report.
Locations in Bangalore, Mumbai register over 50 per cent increase.
The average price increase was 10 per cent in mid-end properties, high-end properties grew 12 per cent.
Betting on the growing demand for hospitality services in Asia Pacific, especially in India and China, global real estate services firm Cushman & Wakefield has acquired two hotel consultancies to launch Cushman & Wakefield Hospitality, Asia Pacific.
Saffronart, the online portal that sells art and jewellery has joined hands with real estate services firm Cushman
A fresh mall supply for H1 2012 stood at 2.27 million square foot (msf).
Greater Noida in the National Capital Region (NCR) saw the 8th highest annual growth in rental values in the world as on December 2008, a report by a global real estate consultant said.
Retailers will have to shell out more money to set up shops at India's high streets as rentals have gone up considerably, led by Khan Market in New Delhi, which is now the 21st most expensive location in the world.
The country has seen and upswing in demand for both affordable and the premium housing segments.
Out of the proposed 74 malls in key eight cities at the beginning of 2008, only 34 were delivered through the year, the study showed. Developers in the National Capital Region lagged the most with a supply of 4.7 million sq ft compared with the earlier target of 7.1 million sq ft. Developers may continue to restrict their supply, or go slow on retail space by a similar amount in 2009 across key major cities, the study showed.
The total demand for housing in the country is likely to cross 75 lakh (7.5 million) units within the next five years, while the same for commercial spaces will touch 195 million sq ft, signalling a revival in the realty sector.
Upscale Khan Market in New Delhi has slipped by 7 notches to the 24th position in the list the 60 most expensive retail high streets in the world this year, says a global survey.
"The receipt on account of the referral fee arising to the applicant would not be taxable in India...," the AAR said while giving a ruling in a reference made by Singapore-based real estate consultant Cushman & Wakefield Pte. The AAR ruling comes in wake of the questions raised by Singapore-based Cushman & Wakefield whether the referral fees paid to it by the Indian arm would be taxed in India.
The projects cover 40,000 acres across 40 existing and seven new airports, according to the Airport Realty Report by global property consultancy Cushman & Wakefield.
According to the report 'Main Streets Across the World (MSATW) 2007' by real estate consultants firm Cushman & Wakefield, Khan Market in New Delhi is the most expensive retail destination in the country with rentals of Rs 950 per sq ft per month in the second quarter. It witnessed an annual growth of 35.7 per cent over the same period last year.
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