Monthly Real Estate Monitor May 2012 - Kolkata By JLL India

A monthly (2012, May) Snapshot of what is happening in the Indian real estate market of  seven major cities By Jones Lang LaSalle India

The major cities are..!

1. Chennai

2. Bangalore

3. Hyderabad

4. Mumbai

5. Kolkata

6. Delhi

7 .Pune

Kolkata City..!

Office Market..!

Demand remained buoyant given an increase in the number of enquiries. Vacancy rates witnessed a marginal dip in May, 2012 with no new buildings commencing operations. Schneider leased space in Rajarhat.

Rents & capital values remained stable across all sub-markets.

Office	Rents	Capital Value
Key Precincts	INR per sq ft per month	INR per sq ft
Park Street	90-120	9,000-11,000
Topsia	55-65	5,000-7,000
Salt Lake	40-50	4,000-5,000
Rajarhat	25-35	3,000-3,500

Retail Market..!

Demand maintained momentum. High streets witnessed more activity in comparison to malls this May month. Vacancy rates in malls witnessed a marginal  dip. Swatch, Lavi and Jashn leased space in Forum Mall.

There was no completion of malls in the month. Rents & capital values of malls remained stable due to less activity.

Retail	Rents	Capital Value
Key Precincts	INR per sq ft per month	INR per sq ft
Elgin Road	120 - 180	12,000-15,000
Park street (high street)	130 - 150	13,000-16,000
Prince Anwar Shah Road	80 - 100	10,000-12,000
Salt Lake	50 - 70	8,000-11,000

Residential Market..!

Demand for residential units remained stable over  the month. Arihant Garden by Arihant Group located at New town, Rajarhat was launched in May, 2012.

Rents & capital values remained stable across all sub- markets in May, 2012.

Residential	Rents	Capital Value
Key Precincts	INR per month for a 1,000 sq ft 2BHK apartment	INR per sq ft
Alipore	35,000 – 40,000	10,000 – 15,000
PA Shah Road	18,000 – 20,000	3,500 – 4,500
EM Bypass	14,000 – 16,000	3,000 – 3,500
Lake Town	10,000-12,000	2,000 – 3,000
Behala	9,000-12,000	2,500 – 4,000
Howrah	5,000-7,000	1,700 – 1,900

INFRASTRUCTURE ONGOING..!

• A new metro line is proposed on the East-west Metro corridor. This new metro line is expected to enhance intra-city  connectivity manifold. The East-West Metro project stretch covers 13.77 kms of underground and elevated tracks from

Salt Lake to Howrah, with an investment of Rs. 4,680 Crore.

About Jones Lang LaSalle..!

Jones Lang LaSalle is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2011 global revenue of above USD 360 crore, Jones Lang LaSalle serves clients in 70 countries from above 1,000 locations worldwide, including 200 corporate offices.

The company is an industry leader in property & corporate facility management services, with a portfolio of approximately 180 crore square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest & most diverse in real estate with USD 4,790 crore of assets under management.

Jones Lang LaSalle has over 50 years of experience in Asia Pacific, with over 20,800 employees operating in about 80 offices in 13 countries across the region. The company was named the Best Property Consultancy in Asia Pacific at ‘The Asia Pacific Property Awards 2011 in association with Bloomberg Television’.

For further information, please visit  website, www.ap.joneslanglasalle.com

About Jones Lang LaSalle India..!

Jones Lang LaSalle is India’s (JLL India) premier &  largest professional services firm specializing in real estate. With an extensive geographic footprint across eleven cities (Ahmedabad, Delhi, Mumbai, Bangalore, Pune, Chennai, Hyderabad, Kolkata, Kochi, Chandigarh &Coimbatore) and a staff strength of over 4800, the company provides investors, developers, local corporate & MNCs (multinational companies) with a

comprehensive range of services including research, analytics, consultancy, transactions, project and development services, integrated facility management, property and asset management, sustainability, Industrial, capital markets, residential, hotels, health care, senior living, education & retail advisory.

For further information, please visit

www.joneslanglasalle.co.in

For more information about our research

Ashutosh Limaye

Head, Research and REIS

Email: ashutosh.limaye@ap.jll.com

+91 98211 07054

Trivita Roy

Manager, Research

Email:  trivita.roy@ap.jll.com

+91 40 4040 9100

Share: