Commercial real estate will continue to face significant pressure in near term: ICRA – ET RealEstate

Representative Image NEW DELHI: The commercial real estate sector will continue to face significant pressure in the near term owing to the continuing impact of the Covid-19 pandemic on both the office and retail leasing segments, according to ICRA Ratings. With the second wave peaking in Q1 of FY22, the sector is expected to confront […]

Work-from-home trend may significantly damage office space market: Ind-Ra – ET RealEstate

MUMBAI: Negative demand created by the work-from-home culture along with reduction in fresh leasing activities due to a weaker economy can easily shave 40 per cent off annual demand over the next few years, according to India Ratings and Research (Ind-Ra). The agency said this can result in over 500 basis points increase in vacancy […]

Prime offices’ rental slips 8% in Bengaluru; Mumbai records 6.2% drop in Q1 2021 – ET RealEstate

NEW DELHI: Rentals of prime offices in Bengaluru and Mumbai fell 8 per cent and 6.2 per cent, respectively, during January-March 2021 as compared to the year-ago period, according to a Knight Frank report. In its Asia-Pacific Prime Office Rental Index Q1, 2021 report, the consultant said the prime office rents in the national capital […]

YieldAsset aims to have Rs 100 crore in assets by next quarter – ET RealEstate

YieldAsset Real Estate Tech Pvt Ltd, a proptech startup, which enables fractional ownership in institutional-grade Commercial Real Estate (CRE) aims to have Rs 100 crore worth of assets under management (AUM) by the end of September quarter. YieldAsset has already listed two assets of Grade ‘A’ office space in Mumbai and is in the final […]

Office leasing in seven cities falls 48% in Jan-Mar: Report – ET RealEstate

NEW DELHI: Net leasing of office space fell 48 per cent during January-March across seven cities due to the COVID-19 pandemic, but demand for the flexible space from corporates has increased, according to Cushman & Wakefield. In its latest quarterly report, property consultant Cushman & Wakefield said the net leasing of office space declined to […]

Commercial real estate developers urge govt to not levy 18% GST – ET RealEstate

Commercial real estate developers involved in building rental assets have urged the government to not levy 18% GST in case of joint development agreement (JDA) between landowner and developers. If a developer buys land upfront, they pay just stamp duty on it but if they opt for a JDA model, they pay both stamp duty […]

Office space provider IWG to shut more underperforming centres – ET RealEstate

BENGALURU: Office space provider IWG on Tuesday signalled that it will shut more underperforming centres as the market recovery from the coronavirus pandemic was taking longer than anticipated, but said it was seeing increased demand for hybrid work. The pandemic has caused a radical change in the office space sector as employers opt for shorter […]

Net absorption of office spaces declines 45% in 2020: Report – ET RealEstate

NEW DELHI: The office market in India reached its peak in 2019, with net absorption of Grade A spaces crossing 46 million sq ft and new completions breaching the 50 million sq ft mark. In 2020, the net absorption of office spaces was 25.5 million sq ft, registering a 45 per cent drop while new […]

Can WFH concerns over comfort revive commercial real estate? – ET RealEstate

Real estate developers and select equity analysts believe that the initial euphoria about improved productivity from work from home (WFH) has ebbed and has now triggered concerns over employee burnout, organizational culture and team bonding. A survey conducted by Knight Frank also showed that 90 per cent of employees in the country miss their office […]