Monthly Real Estate Monitor to October 2012- Bangalore


JLL India’s Monthly Real Estate Monitor  to October 2012-  Bangalore 

Office market..!

Bangalore’s office market saw moderate leasing activity in September, 2012 as compared to last month. IT / ITES sector continued to account for majority of the leasing activity, followed by the BFSI sector. The combination of stable demand and restricted supply kept the city’s overall vacancy rate low during the month. This trend inched up the rents across the CBD & SBD submarkets.

The key firms that leased space in September were: Altran India, Xentrix, IMS Healthcare, PMC Sierra, TIME Magazine, Quest Software, Imec, Honeywell, SS&C Technologies, Mars Telicom, Indecomm, Net Crackers, Monsanto, Q Logic, Citrix and FlowServe.


There were two buildings that commenced operations in September  to Prestige Exora Block B1 and Embassy Manyata Tech Park Block G4  to both located on the Outer Ring Road. Both these buildings were almost 90 per cent occupied whilst being operational. Capital values increased marginally across all submarkets.

Retail market..!

Bangalore’s retail market saw steady consumer demand in September. However, this demand did not support the leasing activity in the city. Vacancy increased as the recently opened InOrbit Mall in Whitefield entered the market with low occupancy rate. No major transactions were concluded in the city during the month. Rents and capital values remained stable across all submarkets in September.


Residential Market..!

Bangalore’s residential market witnessed steady consumer demand & observed good number of launches in September, 2012.  

The major projects launched during the month include: Prestige Ferns Residency by Prestige Group, located on Harlur Road; One Bangalore West by Phoenix Group, located at Rajaji Nagar; Sobha Eternia; Sobha Morzaria Grandeur; Sobha Cedar by Sobha Developers; and Mantri Aura by Mantri Group on Hennur Main Road.

Capital values increased across all the submarkets, due to increase in prices amongst projects that are nearing completion and launch of new projects at prices above market average.

INFRASTRUCTURE ONGOING ..!

The NHAI  (National Highways Authority of India) will widen the Hebbal Flyover by another lane to facilitate a signal free corridor from Mekhri Circle to BIA (Bengaluru International Airport).


Office                          
Rents
Capital Value

Key Precincts
INR per sq ft per month
INR per sq ft
Outer Ring Road (North)
48 to 55
5,500 to 6,500
Old Airport Road
60 to 65
6,000 to 7,000
Outer Ring Road (Eastern)
46 to 52
4,500 to 5,500
Old Madras Road
30 to 34
3,000 to 3,500
Electronic City
26 to 28
2,400 to 2,800


Retail
Rents
Capital Value
Key Precincts
INR per sq ft per month
INR per sq ft
Koramangala
80 to 150
9,000 to 16,000
Indiranagar
90 to 180
12,000 to 18,000
New BEL Road
50 to 80
6,000 to 10,000
Commercial Street
175 to 250
16,000 to 20,000
Jayanagar
80 to 120
7,000 to 15,000


Residential
Rents
Capital Value
Key Precincts
INR per month for a 1,000 sq ft 2BHK apartment
INR per sq ft
Old Madras Road
10,000 to 15,000
5,000 to 6,000
Indiranagar
18,000 to 20,000
10,000 to 20,000
Bellary Road
10,000 to 14,000
3,000 to 6,000
Hosur Road
10,000 to 14,000
3,000 to 4,500
Whitefield
12,000 to 15,000
3,000 to 5,000
Tumkur Road
7,000 to 11,000
3,000 to 5,000
Kanakapura Road
8,000 to 12,000
3,000 to 4,500
Mysore Road
8,000 to 10,000
2,500 to 3,500

About Jones Lang LaSalle..!

 Jones Lang LaSalle is a financial and professional services firm specializing in real estate. The company 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 $ 360 crore, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices. The company is an industry leader in property and corporate facility management services, with a portfolio of approximately 210 crore square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $47 billion of assets under management. Jones Lang LaSalle has over 50 years of experience in Asia Pacific, with over 22,200 employees operating in 81 offices in 15 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 our website, www.ap.joneslanglasalle.com

About Jones Lang LaSalle India..!

 Jones Lang LaSalle is India’s premier and 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 and Coimbatore) and a staff strength of above 5,400, the firm provides investors, developers, local corporates and 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 and retail advisory.

For more information, please visit 

For more information about research
Mr.  Ashutosh Limaye  Head, Research and REIS ashutosh.limaye@ap.jll.com +91 98211 07054
Mr. Trivita Roy Assistant Vice President, Research Email: trivita.roy@ap.jll.com +91 40 4040 9100

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