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
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