A monthly (2012, May)
Snapshot of what is happening in the Indian real estate market of seven major cities By Jones Lang LaSalle
India (JLL India)
The major cities
are..!
1. .Pune
2. Bangalore
3. Hyderabad
4. Chennai
5. Kolkata
6. Delhi
7 Mumbai
Pune City
Office Markets..!
Office space leasing
in Pune continued to remain strong in May, 2012. Majority of leasing deals were contributed by IT and ITES companies which
leased large-format space.
Office
|
Rents
|
Capital Value
|
Key Precincts
|
INR per sq ft per month
|
INR per sq ft
|
Hinjewadi
|
32-35
|
3,000-3,500
|
Hadapsar
|
45-50
|
4,000-5,000
|
Bund Garden Road
|
55-60
|
5,500-6,000
|
Viman Nagar
|
50-55
|
5,000-5,500
|
S.B Road
|
55-60
|
5,000-5,500
|
Koregaon Park
|
60-65
|
6,000-7,000
|
Rents & capital
values remained stagnant across sub-markets. SMS Concast leased
space in Magarpatta
SEZ, Hadapsar in the eastern part of Pune.
Retail Markets..!
Demand from retailers
was mostly concentrated in existing malls located in prime sub-markets because
of their good residential catchment and availability of
quality space.
Retail
|
Rents
|
Capital Value
|
Key Precincts
|
INR per sq ft per month
|
INR per sq ft
|
MG Road
|
100-150
|
10,000-15,000
|
Bund Garden Road
|
90-130
|
9,000-13,000
|
FC Road
|
100-150
|
10,000-15,000
|
JM Road
|
100-150
|
10,000-15,000
|
DP Road
|
90-110
|
9,000-11,000
|
SB Road
|
80-120
|
8,000-11,000
|
No new malls
commenced operations in May, 2012. The
last mall to open in Pune was The Plaza centre located in Koregaon Park Annexe. International brands
such as Loccainte and Mac have set up their stores for the first time in Pune.
Rents & capital
values remained stable across sub markets in May, 2012.
Housing Markets..!
Demand for housing in
the city is mainly driven by IT / ITeS
developments which are primarily in the eastern & western corridors .
Residential
|
Rents
|
Capital Value
|
Key Precincts
|
INR per month for a 1,000 sq ft 2BHK apartment
|
INR per sq ft
|
Wakad
|
10,000-12,000
|
3,200-3,500
|
Kharadi
|
11,000-15,000
|
4,200-4,500
|
Hadapsar
|
12,000-16,000
|
4,000-4,500
|
Hinjewadi
|
9,000-11,000
|
3,200-3,500
|
Kondhwa
|
9,000-12,000
|
3,700-4,000
|
Pimpri-Chinchwad
|
8,000-12,000
|
3,200-3,700
|
Overall absorption rate
remained stable during May. Amongst the newly
launched projects
this month Renaissance at Wakad by Monarch Developer and Greens Phase III at
Chinchwad enjoyed healthy sales numbers.
The city saw marginal
appreciation in capital values
in select sub-markets
over the month.
INFRASTRUCTURE
ONGOING..!
> To mitigate
traffic congestion in the city, local municipal authorities in city have planned an outer ring
road for Pune. The work is in progress.
> The outer ring
road is a considerable length of 169 kms, with the project being divided into 4
parts. Part I of 39.89 kms to cover Theurphata NH - 9, Kesnand, Wagholi,
Bhavdi,
Tulapur, Alandi,
Kelgaon, Chimbli & NH-50.
About Jones Lang LaSalle..!
Jones Lang LaSalle is
a financial& 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.
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 Firm 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.
Please visit www.joneslanglasalle.co.in
For more information
about our research
Ashutosh Limaye
Head, Research and
REIS
ashutosh.limaye@ap.jll.com
+91 98211 07054
Trivita Roy
Manager, Research
trivita.roy@ap.jll.com
+91 40 4040 9100
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