Office space in Bangalore metros

New Delhi, Aug 09: About 10% of all office space across metros stood vacant in the first quarter of the fiscal. Mumbai witnessed an average 10% vacancy, the highest among the four metros: Delhi, Bangalore, Mumbai, Chennai. On the other hand, the lowest mean vacancy was witnessed by crowded Bangalore at 4%.

Central districts have lesser vacant spaces as they continue to be more sought after compared to suburban areas. However, large transactions are happening in suburbs.

The vacancy level was arrived at by taking a mean of vacancy across the four metros across all sub-markets.

According to global real estate research firm Jones Lang Lasalle (JLL), only 1% of the central business district area (MG Road) in Bangalore remained vacant in Q1 2006. Among prime location vacancy, about 4% of Delhi and Mumbai offices wore an empty look. Chennai’s prime locations like Anna Salai and Venkatanarayana roads had a vacancy rate of 3% indicating the rapid development the city is undergoing.

Peripheral districts (PDs) of metros, however, witnessed high vacancy.

With the huge IT business influx, PDs of Bangalore (Whitefield, Electronic City) had low vacancy at 6% against high vacancy in Delhi suburbs (Gurgaon-12%), Mumbai (Navi Mumbai-14%). Chennai suburbs like the IT highway, however remained crowded with a low vacancy of 6%.

The major space acquisitions are being done by IT companies.

mong highest office transactions across four metros, Chennai saw the largest ones. Cognizant topped with a transaction of about 3,25,000 sq ft space followed by TCS (3,00,000 sq ft) and Satyam (2,00,000 sq ft), all in Chennai.

In Delhi, the large transactions include: GE money (2,00,000 sq ft) in Infinity, Bharti (1,37,000 sq.ft) in Unitech Cyber Park and CSC (1,25,500 sq.ft) in sector 58, Noida. In Mumbai, about 1.2 million sq ft was transacted in Q1 ’06. Key transactions during the quarter were – Novartis (44,000 sq ft) in Lower Parel, Anchor India (35,000 sq ft) and Pan Gulf (18,000 sq ft). The vacancy in prime locations was up 2% compared to the last quarter.

Plug and Play Office Space or Furnished office space    

An Plug and play office space is generally a office space which is ready to occupy by an company and to start their business where everything needed for an office space will be pre-builded and kept ready to start and run an business.

The plug and play office space includes Ready to occupy spaces like Reception, Server room, Workstation (System Placing tables), Cabins, Disc room, Conference room, Library, Pantry area, Cafeteria, PABX (private automatic branch exchange), EPABX (electronic private automatic branch exchange), Data service, Voice Services, Access Control Services, wiring, network electronics, telephone system and wireless infrastructure to support a variety of needs, such as local and long-distance telephone, Internet access, local area network (LAN), wireless network, and connection to remote offices via a wide area network (WAN).

Live-inspace Corp serve provide services like plug and play office spaces in Bangalore, commercial spaces for rent in Bangalore, Office Spaces for rental in Bangalore, Commercial Spaces For Rent, Lease and sale services in Bangalore. Live-inspace corp serve provide services related to commercial stuffs throught Bangalore.

About Live-inspace Corp services

Live-in Space offers its customers a complete suite of Commercial and Office Space Solutions including buying, selling and leasing of property with an approach that is multi-disciplinary, well thought-out and completely integrated.

Accredited with an ISO 9001-2000 certification, Live-In Space is an eco-friendly firm who has effectively delivered numerous commercial projects by providing professional yet personalized services to our clients.

Right from selecting appropriate facilities to improving infrastructure to complete maintenance, we offer a variety of specialized and value-driven services that addresses the critical needs of the Corporates.

Founded in the year 2006, today live-in space has emerged as India’s most trusted Commercial Property Leasing Firm with a quality conscious and customer-centric mindset that is spreading its wings across many new frontiers.

Our office space Search facility is online. If you wish to speak to a serviced office space representative, then please call +91 (080) 41468648 or Mobile 9945235126, 9900264111.

Contact us for any type Commercial Real Estate Services and Advisory

Live-in Space Corp Serve & Pvt ltd.,

14, 1st Floor, 2nd ’A' Cross, 16th ’C' Main, 4th Block, Koramangala, Bangalore – 560034 India
Phone : +91 80 41468648 Mobile : +91 9945235126, 9900264111 Fax : +91 80 25503610

Website : www.live-inspace.com E-mail : liveinspacecorp@gmail.com

Office rental mkt up in India: CB Richard Ellis

New Delhi: India’s rental market for office space is firming up on account of increase in demand and more enquiries converting into closures, according to the findings of CB Richard Ellis India’s latest report titled “Indian Office Market View” for Q 3, 2010.

The report covers grade A office space rentals across cities of NCR, Mumbai, Bangalore, Chennai, Hyderabad, Pune and Kolkata.

While rentals in grade A projects in the central business districts of Delhi increased by 4% (q-o-q), Mumbai by 3%, Bangalore by 3%, Kolkata by 10% and Pune by 4%, rentals in Chennai and Hyderabad remained constant when compared to the last quarter.

The report also stated that occupiers are actively looking at options in Secondary Business Districts (SBD) in Delhi NCR, Mumbai, Hyderabad and Bangalore owing to relatively affordable rents with improved infrastructure and a main city location. The Central Business Districts (CBD) of Chennai, Pune and Kolkata witnessed substantial increase in enquiry levels and transaction velocity of mid-sized and small office format improved as compared to the last quarter.

Market research and data collected across the 7 cities suggests that a large number of companies are reviving their expansion plans, while demand is also increasing for SEZ office space. This is indicative enough of a revival of demand and the substantial improvement in the market activity across the country. .

According to Anshuman Magazine, MD, CB Richards Ellis, “Over the past few months, there has been an improvement in commercial leasing activity primarily due to the revival of expansion and consolidation plans by several corporate occupiers. I believe that overall demand for office space would witness an improvement. I also believe that rental increase will remain in check in the medium term due to ongoing supply.”

The report also indicates that there has been a considerable increase in the transaction volume in almost all major metros of India including Pune and Kolkata with Hyderabad expected to witness higher rentals owing to an increase in demand for commercial office space by end of this year.

Some of the major rentals trends as per the findings of the report are:

1. In the NCR Region, companies committed to high rental values (prevailing during 2007) opted to renegotiate over shifting out to secondary markets due to location advantage and metro connectivity.

2. Mumbai expects a large supply of office space towards the end of this year. The existing tenants of Central Business District (CBD) of Nariman Point, continued to evaluate options in the Extended Business District (EBD) and the Alternate Business District (ABD) due to good quality construction and infrastructure offered in this location

3. In Bangalore, corporates looking for expansion options within the city limits are readily contemplating the Non CBD micro market of Indira Nagar, Koramangala, Old Madras Road & CV Raman Nagar as the most feasible option due to ready availability of Grade A space, lower rentals, rapidly improving infrastructure and good connectivity.

4. In Hyderabad, since supply in the IT corridor is expected to come only in the second quarter of 2011 and there is limited supply and increasing rentals in areas like Madhapur and HITEC City; hence many IT companies looking for smaller format office spaces may consider areas such as Pocharam and Uppal, as these micro markets have abundant availability of ready supply.

5. In Pune, the Central Business District (CBD) of MG Road, Koregaon Park, Bund Garden, Kalyani Nagar, Dhole Patil, FC Road and JM Road witnessed slight increase in enquiry and demand levels for small format office spaces. Here again, a lot of corporates are moving within the CBD to more efficient buildings

6. In Kolkata, the Central Business District (CBD) of Chowringhee, B.B.D.Bag, Park Street and Camac Street witnessed substantial increase in enquiry levels and transaction velocity also improved when compared to the last quarter.

Plug and Play Office Space or Furnished office space    

An Plug and play office space is generally a office space which is ready to occupy by an company and to start their business where everything needed for an office space will be pre-builded and kept ready to start and run an business.

The plug and play office space includes Ready to occupy spaces like Reception, Server room, Workstation (System Placing tables), Cabins, Disc room, Conference room, Library, Pantry area, Cafeteria, PABX (private automatic branch exchange), EPABX (electronic private automatic branch exchange), Data service, Voice Services, Access Control Services, wiring, network electronics, telephone system and wireless infrastructure to support a variety of needs, such as local and long-distance telephone, Internet access, local area network (LAN), wireless network, and connection to remote offices via a wide area network (WAN).

Live-inspace Corp serve provide services like plug and play office spaces in Bangalore, commercial spaces for rent in Bangalore, Office Spaces for rental in Bangalore, Commercial Spaces For Rent, Lease and sale services in Bangalore. Live-inspace corp serve provide services related to commercial stuffs throught Bangalore.

About Live-inspace Corp services

Live-in Space offers its customers a complete suite of Commercial and Office Space Solutions including buying, selling and leasing of property with an approach that is multi-disciplinary, well thought-out and completely integrated.

Accredited with an ISO 9001-2000 certification, Live-In Space is an eco-friendly firm who has effectively delivered numerous commercial projects by providing professional yet personalized services to our clients.

Right from selecting appropriate facilities to improving infrastructure to complete maintenance, we offer a variety of specialized and value-driven services that addresses the critical needs of the Corporates.

Founded in the year 2006, today live-in space has emerged as India’s most trusted Commercial Property Leasing Firm with a quality conscious and customer-centric mindset that is spreading its wings across many new frontiers.

Our office space Search facility is online. If you wish to speak to a serviced office space representative, then please call +91 (080) 41468648 or Mobile 9945235126, 9900264111.

Contact us for any type Commercial Real Estate Services and Advisory

Live-in Space Corp Serve & Pvt ltd.,

14, 1st Floor, 2nd ’A' Cross, 16th ’C' Main, 4th Block, Koramangala, Bangalore – 560034 India
Phone : +91 80 41468648 Mobile : +91 9945235126, 9900264111 Fax : +91 80 25503610

Website : www.live-inspace.com E-mail : liveinspacecorp@gmail.com

NOIDA plot fetches higher than the one in Hong Kong and Thailand

A 136 sq metre plot in Sector 18, NOIDA has fetched a record price of Rs. 6.11 lakh per sq metre at an auction held on 27th November’2006. The plot is bought by Manoj Kumar Punjabi at a whopping price of Rs. 8 crore 31 lakh. The reserve price of the plot was only Rs. 4 lakh per sq metre.

Busting the previous record of commercial space in the township, this prohibitive plot is believed to have made the biggest leap that would come as an eye opener for the prices of property in the Delhi and other close by areas. Another plot that succeeded in attracting the second-highest bid was also a 136 sq metre plot at N-16, which was sold at the price of Rs 4.51 lakh per sq metre.

The other land plots went up for the auction were 96 sq metres and the 11 plots in all sold between Rs 3.81 lakh per sq metre (for plot N-24) and Rs 6.11 lakh per sq metre. The reserve price of these plots was ranging between Rs. 3.30 lakh per sq metre and Rs 4 lakh per sq m. NOIDA Authority has been able to earn Rs. 53.52 crore from the selling made at the auction.

Such a tremendous hike in prices of Noida’s plots marks the growing popularity of the place. Also, these prices are believed to be far higher than those in Hong Kong and Thailand, the pioneering real estate markets in Asia, says NOIDA Authority Manager (Commercial) LP Singh.

Often touted as the township’s Connaught Place in recent times, Sector 18 is believed to be the most sought after destination in Noida. Also, it is the most happening commercial place that boasts of a Mall, a multiplex and the Radisson Hotel. An entertainment city is on its way to come across the road soon.

Plug and Play Office Space or Furnished office space

An Plug and play office space is generally a office space which is ready to occupy by an company and to start their business where everything needed for an office space will be pre-builded and kept ready to start and run an business.

The plug and play office space includes Ready to occupy spaces like Reception, Server room, Workstation (System Placing tables), Cabins, Disc room, Conference room, Library, Pantry area, Cafeteria, PABX (private automatic branch exchange), EPABX (electronic private automatic branch exchange), Data service, Voice Services, Access Control Services, wiring, network electronics, telephone system and wireless infrastructure to support a variety of needs, such as local and long-distance telephone, Internet access, local area network (LAN), wireless network, and connection to remote offices via a wide area network (WAN).

Live-inspace Corp serve provide services like plug and play office spaces in Bangalore, commercial spaces for rent in Bangalore, Office Spaces for rental in Bangalore, Commercial Spaces For Rent, Lease and sale services in Bangalore. Live-inspace corp serve provide services related to commercial stuffs throught Bangalore.

About Live-inspace Corp services

Live-in Space offers its customers a complete suite of Commercial and Office Space Solutions including buying, selling and leasing of property with an approach that is multi-disciplinary, well thought-out and completely integrated.

Accredited with an ISO 9001-2000 certification, Live-In Space is an eco-friendly firm who has effectively delivered numerous commercial projects by providing professional yet personalized services to our clients.

Right from selecting appropriate facilities to improving infrastructure to complete maintenance, we offer a variety of specialized and value-driven services that addresses the critical needs of the Corporates.

Founded in the year 2006, today live-in space has emerged as India’s most trusted Commercial Property Leasing Firm with a quality conscious and customer-centric mindset that is spreading its wings across many new frontiers.

Our office space Search facility is online. If you wish to speak to a serviced office space representative, then please call +91 (080) 41468648 or Mobile 9945235126, 9900264111.

Contact us for any type Commercial Real Estate Services and Advisory

Live-in Space Corp Serve & Pvt ltd.,

14, 1st Floor, 2nd ’A' Cross, 16th ’C' Main, 4th Block, Koramangala, Bangalore – 560034 India
Phone : +91 80 41468648 Mobile : +91 9945235126, 9900264111 Fax : +91 80 25503610

Website : www.live-inspace.com E-mail : liveinspacecorp@gmail.com

New development plan for Delhi has to factor in next 30 yrs: Centre

New Delhi: Union Minister for Urban Development Kamal Nath on Tuesday said the government was trying to draw future plans keeping in mind the projected population growth. He said this was necessary since urban planning in the National Capital Region (NCR) had not kept pace with the rise in population.

“Population has increased and our planning could not match that pace. Now we are trying to plan taking into account what the population size would be in 2015 or 2030. The Master Plan should not be created looking at the past 30 years, but should be created looking at the coming 30 years,” Kamal Nath said during a workshop organised by the National Capital Region Planning Board.

He said massive urban transformation was underway and the biggest challenge was to bridge the infrastructure deficit. “We require higher economic development in and outside NCR. This will help reduce pressure on cities like Delhi.”

Kamal Nath said infrastructure projects like Delhi Metro had not tapped the economic value of land to fund themselves. “We have been inefficient in use of land. We have not raised resources by monetization of land. It is not looked at in terms of the economic strength it has.”

“We still have very antique FAR (floor area ratio) laws. We should look at FAR in a new way now. New models of public-private partnership have to be explored as government resources will not be there all the time,” he said.

Delhi Chief Minister Sheila Dikshit, meanwhile, expressed reservations on allowing high-rise buildings in the Capital, saying availability of basic infrastructure should be ensured before going ahead with it.

“Personally, I am not very keen on high-rises because Delhi has a very great sense of space.” But Dikshit said taller buildings could come up in the outer regions of Delhi. “In the outer portions of Delhi where there is lot of vacant land as it is no longer being used for agriculture, taller buildings can be allowed to come up,” she said.

On the ongoing review of the Master Plan, Dikshit said: “Let us see how it comes along.”

She asked the NCR Planning Board to facilitate completion of the eastern and western peripheral expressways to ensure that heavy vehicles not meant for the Capital should not pass through Delhi.

“Delhi government agreed to provide 50 per cent of the initial cost of Rs 1,307 crore. It has already released its share of Rs 653.50 crore, but the response from the neighbouring states has been lukewarm. Projects have not been completed in the stipulated period, resulting in substantial traffic jams and wastage of fuel. The cost of the project has also escalated to Rs 3,500 crore now,” Dikshit said.

Plug and Play Office Space or Furnished office space    

An Plug and play office space is generally a office space which is ready to occupy by an company and to start their business where everything needed for an office space will be pre-builded and kept ready to start and run an business.

The plug and play office space includes Ready to occupy spaces like Reception, Server room, Workstation (System Placing tables), Cabins, Disc room, Conference room, Library, Pantry area, Cafeteria, PABX (private automatic branch exchange), EPABX (electronic private automatic branch exchange), Data service, Voice Services, Access Control Services, wiring, network electronics, telephone system and wireless infrastructure to support a variety of needs, such as local and long-distance telephone, Internet access, local area network (LAN), wireless network, and connection to remote offices via a wide area network (WAN).

Live-inspace Corp serve provide services like plug and play office spaces in Bangalore, commercial spaces for rent in Bangalore, Office Spaces for rental in Bangalore, Commercial Spaces For Rent, Lease and sale services in Bangalore. Live-inspace corp serve provide services related to commercial stuffs throught Bangalore.

About Live-inspace Corp services

Live-in Space offers its customers a complete suite of Commercial and Office Space Solutions including buying, selling and leasing of property with an approach that is multi-disciplinary, well thought-out and completely integrated.

Accredited with an ISO 9001-2000 certification, Live-In Space is an eco-friendly firm who has effectively delivered numerous commercial projects by providing professional yet personalized services to our clients.

Right from selecting appropriate facilities to improving infrastructure to complete maintenance, we offer a variety of specialized and value-driven services that addresses the critical needs of the Corporates.

Founded in the year 2006, today live-in space has emerged as India’s most trusted Commercial Property Leasing Firm with a quality conscious and customer-centric mindset that is spreading its wings across many new frontiers.

Our office space Search facility is online. If you wish to speak to a serviced office space representative, then please call +91 (080) 41468648 or Mobile 9945235126, 9900264111.

Contact us for any type Commercial Real Estate Services and Advisory

Live-in Space Corp Serve & Pvt ltd.,

14, 1st Floor, 2nd ’A' Cross, 16th ’C' Main, 4th Block, Koramangala, Bangalore – 560034 India
Phone : +91 80 41468648 Mobile : +91 9945235126, 9900264111 Fax : +91 80 25503610

Website : www.live-inspace.com E-mail : liveinspacecorp@gmail.com

IT BPO cos driving realty boom, acquiring 80% office space

The IT-ITeS industry is single handedly driving the real estate boom in India. According to realty experts, IT-BPO companies account for 80% of total commercial space absorption in India. Currently about 130 million square feet is acquired by IT-ITeS companies and the demad by them is expected to shoot up to 500 million sq ft by 2010. This year, eight out of the top 10 property transactions were in the IT-ITeS sector.

Largest property transactions in the first two quarters of 2006 include Lucent (350,000 sq ft-Bangalore), TCS (300,000 sq ft-Chennai), Satyam (200,000 sq ft-Chennai), Wipro (154,000 sq ft-Chennai) and CSC (125,500 sq ft-Gurgaon). In the National Capital Region of Delhi, IT ITeS accounts for 75% space acquisition. In 2005, about 20 million of the 25 million sq ft office space acquired, belonged to the IT-ITeS companies.

 

Currently there are about 1.3 million people working in Indian IT-ITeS sectors. Taking the standard 100 sq ft/employee (some companies keep it at 120 sq ft), about 130 million sq ft is currently acquired by IT-BPO companies. Of this 87.8 million sq ft is acquired by IT companies while 41.5 million sq ft by BPO companies.

 

According to Nasscom-McKinsey data, over 1 million more people will be added in the IT-ITeS sectors by 2010. This will result in a demand for over 100 million sq ft of office space by 2010.

 

“Over the next four years about 30 million square feet of space will be acquired annually by Indian IT-BPO companies alone. This is a conservative estimate, as companies are adding auditoriums, clubs, gyms to provide world class facilities in order to lessen attrition and attract talent. The IT-ITeS sectors are growing at 33% per annum but the real estate sector is a bit more than that annually due this additional space added,” says property advisory DTZ’s India MD Ankur Srivastava.

 

Each job results in a requirement of an additional 400 sq ft of residential space per person. So, an additional 400 million sq ft will be required to fill in the residential gap by 2010.

 

In Bangalore about 10 million sq ft and in Delhi about 8 million sq ft space will be added this year taking the total commercial lease hold acquisition to over 35 million, say experts. The markets of NCR, Bangalore, Hyderabad, Chennai and Mumbai alone account for over 90% of space acquisition in India.

Plug and Play Office Space or Furnished office space    

An Plug and play office space is generally a office space which is ready to occupy by an company and to start their business where everything needed for an office space will be pre-builded and kept ready to start and run an business.

The plug and play office space includes Ready to occupy spaces like Reception, Server room, Workstation (System Placing tables), Cabins, Disc room, Conference room, Library, Pantry area, Cafeteria, PABX (private automatic branch exchange), EPABX (electronic private automatic branch exchange), Data service, Voice Services, Access Control Services, wiring, network electronics, telephone system and wireless infrastructure to support a variety of needs, such as local and long-distance telephone, Internet access, local area network (LAN), wireless network, and connection to remote offices via a wide area network (WAN).

Live-inspace Corp serve provide services like plug and play office spaces in Bangalore, commercial spaces for rent in Bangalore, Office Spaces for rental in Bangalore, Commercial Spaces For Rent, Lease and sale services in Bangalore. Live-inspace corp serve provide services related to commercial stuffs throught Bangalore.

About Live-inspace Corp services

Live-in Space offers its customers a complete suite of Commercial and Office Space Solutions including buying, selling and leasing of property with an approach that is multi-disciplinary, well thought-out and completely integrated.

Accredited with an ISO 9001-2000 certification, Live-In Space is an eco-friendly firm who has effectively delivered numerous commercial projects by providing professional yet personalized services to our clients.

Right from selecting appropriate facilities to improving infrastructure to complete maintenance, we offer a variety of specialized and value-driven services that addresses the critical needs of the Corporates.

Founded in the year 2006, today live-in space has emerged as India’s most trusted Commercial Property Leasing Firm with a quality conscious and customer-centric mindset that is spreading its wings across many new frontiers.

Our office space Search facility is online. If you wish to speak to a serviced office space representative, then please call +91 (080) 41468648 or Mobile 9945235126, 9900264111.

Contact us for any type Commercial Real Estate Services and Advisory

Live-in Space Corp Serve & Pvt ltd.,

14, 1st Floor, 2nd ’A' Cross, 16th ’C' Main, 4th Block, Koramangala, Bangalore – 560034 India
Phone : +91 80 41468648 Mobile : +91 9945235126, 9900264111 Fax : +91 80 25503610

Website : www.live-inspace.com E-mail : liveinspacecorp@gmail.com

India real estate: Snapshot 2011

Market forces of demand and supply are the most potent determinants of price and the developments in the real estate industry during year 2011. The stalemate between the buyers and developers is weakening as developers attempt to salvage their position by adopting to the last resort of reducing property prices although in a quiet manner for transactions on table or where a large upfront payment is agreed.

Demand for real estate is a derived demand and thus the state of economy has a direct bearing on the sector. Since the slowdown in 2008-09 on the backdrop of global financial crisis, the Indian economy picked up really well in 2009 and 2010. However, a closer look at the quarterly GDP numbers indicates a receding growth sequentially for each of the quarters since Q1 2010 when the economy grew by 9.4%. The latest number for Q3 2011 indicates that the economy’s growth rate has come down to 6.9%.

While the world economy was facing pressure of an imminent double dip recession and some European economies risked defaulting on their debt, inflation remained the primary concern for the Indian economy since the beginning of the year. While the central bank’s efforts centered on taming inflation, the fallout was high interest rate and tight credit scenario resulting in to faltering economic growth. Rising corporate governance issues and menace of corruption ensured that decisions on major reforms were delayed. While investment slowed on account of high interest rate and hiatus on major infrastructure projects, government’s ability to increase consumption, as witnessed during the 2008 downturn, was reduced because of rising fiscal deficit. The unfolding of these developments has resulted in a compromised economic growth and the real estate industry has taken the biggest hit. Thus, the year 2011 can be referred as a dull year on account of slack transaction activity, few project launches and stagnant property prices.

While residential property price appreciated between 10% – 30% in 2010 across major cities like Mumbai, NCR, Bangalore and Chennai, it has declined by up to 10% in 2011. The pace of new project launches has severely been crippled in 2011. During 2010, 3,61,098 residential units were launched across the top 7 cities of Mumbai, NCR, Pune, Kolkata, Bangalore, Chennai and Hyderabad. However, in 2011 only 1,72,856 units were launched. This is a decline of 52% from the last year. Moreover, of the total housing inventory pertaining to the under construction projects, 39% or 3,06,859 units are lying unsold. A substantial portion of this unsold inventory belongs to the NCR market.

Mumbai property market was even worse recording a sharp decline in the number of new project launches in 2011. Just about 19,470 units were launched in 2011 in comparison to the 54,968 housing units that were launched in the previous year. This decline of 65% fewer launches highlights the lack of buyer interest in the extremely expensive Mumbai property market. Moreover, 40,660 housing units or 32% of the inventory is lying unsold in the city. Although the situation remained grim throughout the year, there was a stalemate between the buyers and the builders, who remained in a denial mode with respect to lowering the prices.

Commercial office space demand, which is driven mainly by the service sector industries like BFSI and IT/ITES, remained muted in 2011. Rentals in the top 7 cities remained under pressure as corporates trimmed hiring plans resulting in to reduced office space requirement. Of the total office stock of 367 mn.sq.ft. in these cities, 24% or almost 89 mn.sq.ft. remains vacant. NCR, Pune, Chennai and Kolkata have a high proportion of vacant stock followed by Mumbai and Bangalore. Hyderabad office market is relatively better placed in terms of the unoccupied stock.

The landmark reform with respect to the sector was the draft real estate regulation bill. The proposed bill is the first such bill at the central level which will directly regulate the real estate sector and adjudicate any dispute between the buyer, promoter and government authority. The bill attempts to overcome the shortcomings of the existing system in the real estate market where buyer’s interest is frequently ignored by the promoter as well as the government. The bill tries to identify these problem areas and fix time bound responsibility on the promoters to disclose certain necessary information regarding their projects in order to bring in greater level of transparency. It would be a great effort if this bill improves focus on development of the sector than merely regulating it.

Another reform proposed in 2011 but could not take off is the FDI in multi-brand retail. There is restriction on foreign investment in retail sector. Foreign participation in the retail sector should bring in efficiency in the procurement and supply chain operations thereby reduce wastage and offer lower prices to consumers. The proposal to relax the restriction on entry of foreign players by allowing 51% FDI in multi-brand retail and 100% in single brand retail will greatly benefit the real estate industry, which has been in pressure since the beginning of the global financial crisis.

Outlook 2012

What is in store for the real estate sector in 2012 remains the biggest question. In terms of the residential segment, the deadlock between the buyers and developers should break in favour of buyers, according to Knight Frank research. As this happens, the pent up demand from the section of buyers that are sitting on fence in anticipation of price correction would translate into improved fortunes for residential property market. Employment scenario, inflation and interest rate have a bearing on the overall sentiment of buyers. Since, houses are bought by people who are confident, these factors will have a role to play and hence cues from the government action will be keenly observed.

In terms of the commercial office market the performance of the service industry has a significant bearing. The slowdown in global economy which impacts the Indian BPO sector and muted expansion plan of domestic players will exert pressure on the commercial office property market. The commercial office market shall continue to remain subdued on account of weak global and domestic economic indicators. As policy deadlock breaks and reforms gather steam leasing activity shall improve. The rentals, however, will remain under check on account of a strong supply pipeline in major commercial centers.

(Pranab Datta is Vice Chairman & Managing Director, Knight Frank India. Views expressed here are his own and do not represent those of The Indian Express)

Plug and Play Office Space or Furnished office space    

An Plug and play office space is generally a office space which is ready to occupy by an company and to start their business where everything needed for an office space will be pre-builded and kept ready to start and run an business.

The plug and play office space includes Ready to occupy spaces like Reception, Server room, Workstation (System Placing tables), Cabins, Disc room, Conference room, Library, Pantry area, Cafeteria, PABX (private automatic branch exchange), EPABX (electronic private automatic branch exchange), Data service, Voice Services, Access Control Services, wiring, network electronics, telephone system and wireless infrastructure to support a variety of needs, such as local and long-distance telephone, Internet access, local area network (LAN), wireless network, and connection to remote offices via a wide area network (WAN).

Live-inspace Corp serve provide services like plug and play office spaces in Bangalore, commercial spaces for rent in Bangalore, Office Spaces for rental in Bangalore, Commercial Spaces For Rent, Lease and sale services in Bangalore. Live-inspace corp serve provide services related to commercial stuffs throught Bangalore.

About Live-inspace Corp services

Live-in Space offers its customers a complete suite of Commercial and Office Space Solutions including buying, selling and leasing of property with an approach that is multi-disciplinary, well thought-out and completely integrated.

Accredited with an ISO 9001-2000 certification, Live-In Space is an eco-friendly firm who has effectively delivered numerous commercial projects by providing professional yet personalized services to our clients.

Right from selecting appropriate facilities to improving infrastructure to complete maintenance, we offer a variety of specialized and value-driven services that addresses the critical needs of the Corporates.

Founded in the year 2006, today live-in space has emerged as India’s most trusted Commercial Property Leasing Firm with a quality conscious and customer-centric mindset that is spreading its wings across many new frontiers.

Our office space Search facility is online. If you wish to speak to a serviced office space representative, then please call +91 (080) 41468648 or Mobile 9945235126, 9900264111.

Contact us for any type Commercial Real Estate Services and Advisory

Live-in Space Corp Serve & Pvt ltd.,

14, 1st Floor, 2nd ’A' Cross, 16th ’C' Main, 4th Block, Koramangala, Bangalore – 560034 India
Phone : +91 80 41468648 Mobile : +91 9945235126, 9900264111 Fax : +91 80 25503610

Website : www.live-inspace.com E-mail : liveinspacecorp@gmail.com

GVK Power ups Bangalore Airport stake

Mumbai: After dithering for some time, GVK Power & Infrastructure that runs the Bangalore international airport, today said it will acquire 14 percent stake from its partner Siemens at Rs 114 a share, for around Rs 620 crore.

The Bangalore International Airport (BIAL) was developed and is now run by a consortium named Bangalore Airport & Infrastructure Developers, in which GVK has 29 percent stake and the German Siemens holds a higher 40 percent through its subsidiary by Siemens Project Ventures.

The Karnataka government and the Airports Authority of India hold 13 percent each in the airport and Zurich Airports the remaining 5 percent.

Siemens decision to partly exit the airport comes after the lock-in period was over in June.

Announcing the decision, GVK chairman GV Krishna Reddy said that “this (buying 14 percent of Siemens stake) will be a key strategic development for us to further underscore our commitment to the domestic airport sector. We are confident that BIAL will continue to add value to our airport business and will meet its objective to become the hub for the Southern market.”

Bangalore Airport & Infrastructure Developers is a step-down subsidiary of the Hyderabad-based power and infrastructure major GVK, which also owns over 50 percent stake in the Mumbai airport.

A release from GVK said subject to certain terms and compliances, it has exercised its right of first refusal to acquire 53,844,000 equity shares, constituting 14 percent of the issued capital of BIAL with a face value of Rs 10 each, from Siemens Project Ventures, at Rs 114 per equity share or about Rs 620 crore.

The Rs 114-per share offer is nearly two times more than GVK had initially offered to the German company. This is a 9.5 percent premium over the 2009 valuation of the airport. The acquisition will be completed after obtaining the requisite approvals, the statement added.

Siemens could not be reached for comments.

The GVK move comes on the heels of the Singapore airport operator Changi’s reported offer to buy the Siemens stake at a higher price than what GVK had initially reported to have offered.

Despite holding a higher stake than GVK, Siemens has not been involved in the day-to-day operations of BIAL. Siemens had reportedly sounded out potential investors like Changi and the Tata Group among others to offload 14 percent of its stake in BIAL.

The shareholder agreement between GVK and Siemens envisaged a lock-in period for Siemens along with a right of first refusal, which means as and when one of the partners decides to exit, the other will have the first right to purchase the stake of the other.

GVK had bought a 29 percent stake in BIAL in 2009 by buying out the stakes of Zurich Airports and L&T for Rs 1,170 crore, or Rs 105 a share. The deal valued BIAL at Rs 4,035 crore.

Last month, Siemens had offered the shares to GVK, which had reportedly valued it only at Rs 60 a share, which is nearly half the 2009 valuation, saying the 2009 valuation was not possible today as government changed the way tariff was decided for private airports affecting their revenue from non-aeronautical activities that contribute to the larger revenue pie. But later it agreed to pay the higher price.

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DLF to invest up to Rs 3,000 cr to build new malls

New Delhi: The country’s largest realty player, DLF Ltd will invest up to Rs 3,000 crore over the next five years to develop shopping malls across India as it looks to cash in on opportunities following the further opening up of FDI in retail sector.

The company will develop 3.5 million square feet to 4 million square feet of retail space as it expects heightened activity with the government yesterday approving 51 per cent foreign direct investment in multi-brand retail and 100 per cent in single brand.

“I welcome the opening of the retail sector. In the next three to five years, the sector will grow and consumers will benefit. The supply chain issue will also be addressed by the industry adequately. From our side we will invest Rs 2,000

crore to Rs 3,000 crore in the next five years,” DLF Vice-Chairman Rajiv Singh said on the sidelines of CDREAI summit here.

He said most of the new retail malls will come up in cities, including the Capital, NCR, Jalandhar, Lucknow, Kolkatta, Chennai, Kochi and Indore.

Asked about the funding of the investments, he said it would be through internal accruals.

Commenting on the company’s plans to tap the retail sector, Singh said: “We are already present in malls business and have many international brands. After yesterday’s decision on FDI, we will step up our mall activity through our sister firm DLF Brands and hope to get better tenants in future.”

While DLF Brands manages malls, another division of DLF Ltd constructs the malls. The company currently has about 10 operational malls across India.

On the overall investments in core real estate, he said: Usually we invest Rs 1,200 crore to Rs 1,500 crore every year in purchasing new land and rental activities. Our capex for 2012-13 will also be in this range.”

Singh said the company does not foresee real estate prices coming down.

When asked about the company’s plans to sell its hospitality venture Aman Resorts, Singh said: “We are likely to close the deal by next quarter. We have got bids from many players and all of them are international firms.”

He did not comment on the valuation of the deal that would include 29 properties of the hospitality chain that DLF Ltd had acquired in in 2007 for USD 400 million.

Sources in the know of the development, however, said the company is expecting about Rs 2000 crore to Rs 2,500 crore from the deal.

It is also understood that DLF will retain the Delhi property of the Aman Resorts.

Plug and Play Office Space or Furnished office space    

An Plug and play office space is generally a office space which is ready to occupy by an company and to start their business where everything needed for an office space will be pre-builded and kept ready to start and run an business.

The plug and play office space includes Ready to occupy spaces like Reception, Server room, Workstation (System Placing tables), Cabins, Disc room, Conference room, Library, Pantry area, Cafeteria, PABX (private automatic branch exchange), EPABX (electronic private automatic branch exchange), Data service, Voice Services, Access Control Services, wiring, network electronics, telephone system and wireless infrastructure to support a variety of needs, such as local and long-distance telephone, Internet access, local area network (LAN), wireless network, and connection to remote offices via a wide area network (WAN).

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About Live-inspace Corp services

Live-in Space offers its customers a complete suite of Commercial and Office Space Solutions including buying, selling and leasing of property with an approach that is multi-disciplinary, well thought-out and completely integrated.

Accredited with an ISO 9001-2000 certification, Live-In Space is an eco-friendly firm who has effectively delivered numerous commercial projects by providing professional yet personalized services to our clients.

Right from selecting appropriate facilities to improving infrastructure to complete maintenance, we offer a variety of specialized and value-driven services that addresses the critical needs of the Corporates.

Founded in the year 2006, today live-in space has emerged as India’s most trusted Commercial Property Leasing Firm with a quality conscious and customer-centric mindset that is spreading its wings across many new frontiers.

Our office space Search facility is online. If you wish to speak to a serviced office space representative, then please call +91 (080) 41468648 or Mobile 9945235126, 9900264111.

Contact us for any type Commercial Real Estate Services and Advisory

Live-in Space Corp Serve & Pvt ltd.,

14, 1st Floor, 2nd ’A' Cross, 16th ’C' Main, 4th Block, Koramangala, Bangalore – 560034 India
Phone : +91 80 41468648 Mobile : +91 9945235126, 9900264111 Fax : +91 80 25503610

Website : www.live-inspace.com E-mail : liveinspacecorp@gmail.com

Bangalore Metro to get Hudco loan

The Housing and Urban Development Corporation (Hudco) has agreed to extend a loan of R700 crore for the first phase of the Bangalore Metro project, which is expected to be completed by 2013. The first 7 km of the 42.3-km Metro project is expected to start commercial operations later this month.

 

The loan from Hudco is part of the debt that the Bangalore Metro Rail Corporation is tying up for, said a spokesman for Bangalore Metro Rail Corporation (BMRCL). The total project cost is R11,609 crore, which has escalated from the initial estimate of R8,158 crore. Equity from the state and central governments and subordinate debt constitute 55% of the revised project cost, while the remaining funding is through debt.

 

Earlier this year, the Philippines-based Asian Development Bank announced its decision to extend a $250-million loan to BMRCL. The special purpose vehicle has previously raised debt from SBI and the Japan International Cooperation Agency. Hudco, a PSU under the ministry of housing and urban poverty alleviation, will sign the loan agreement with BMRCL shortly, said a Karnataka government press release.

 

On Saturday, Karnataka chief minister DV Sadananda Gowda met Hudco CMD VP Baligar for a review of the schemes it assists in the state. Hudco has supported a total of 1,437 housing and urban infrastructure projects in Karnataka involving a loan component of R14,779 crore.

Plug and Play Office Space or Furnished office space    

An Plug and play office space is generally a office space which is ready to occupy by an company and to start their business where everything needed for an office space will be pre-builded and kept ready to start and run an business.

The plug and play office space includes Ready to occupy spaces like Reception, Server room, Workstation (System Placing tables), Cabins, Disc room, Conference room, Library, Pantry area, Cafeteria, PABX (private automatic branch exchange), EPABX (electronic private automatic branch exchange), Data service, Voice Services, Access Control Services, wiring, network electronics, telephone system and wireless infrastructure to support a variety of needs, such as local and long-distance telephone, Internet access, local area network (LAN), wireless network, and connection to remote offices via a wide area network (WAN).

Live-inspace Corp serve provide services like plug and play office spaces in Bangalore, commercial spaces for rent in Bangalore, Office Spaces for rental in Bangalore, Commercial Spaces For Rent, Lease and sale services in Bangalore. Live-inspace corp serve provide services related to commercial stuffs throught Bangalore.

About Live-inspace Corp services

Live-in Space offers its customers a complete suite of Commercial and Office Space Solutions including buying, selling and leasing of property with an approach that is multi-disciplinary, well thought-out and completely integrated.

Accredited with an ISO 9001-2000 certification, Live-In Space is an eco-friendly firm who has effectively delivered numerous commercial projects by providing professional yet personalized services to our clients.

Right from selecting appropriate facilities to improving infrastructure to complete maintenance, we offer a variety of specialized and value-driven services that addresses the critical needs of the Corporates.

Founded in the year 2006, today live-in space has emerged as India’s most trusted Commercial Property Leasing Firm with a quality conscious and customer-centric mindset that is spreading its wings across many new frontiers.

Our office space Search facility is online. If you wish to speak to a serviced office space representative, then please call +91 (080) 41468648 or Mobile 9945235126, 9900264111.

Contact us for any type Commercial Real Estate Services and Advisory

Live-in Space Corp Serve & Pvt ltd.,

14, 1st Floor, 2nd ’A' Cross, 16th ’C' Main, 4th Block, Koramangala, Bangalore – 560034 India
Phone : +91 80 41468648 Mobile : +91 9945235126, 9900264111 Fax : +91 80 25503610

Website : www.live-inspace.com E-mail : liveinspacecorp@gmail.com

Bangalore Drives Wild

The exuberance displayed by the crowd upon the arrival of F1 driver Lewis Hamilton in Bangalore was akin to a Mohun Bagan-East Bengal football match in Kolkata. Hamilton’s day out in Bangalore had all the necessary ingredients—broken grills and fences, over-packed bleachers, fights, cops, and a fashionably out of control crowd.

 

When Hamilton reached Bangalore’s Nandi Infrastructure Corridor Enterprise (NICE) road, where he was to drive his award winning F1 car, he saw few people sitting in the temporary gallery that had been constructed alongside the track. He later said he hadn’t expected many more to arrive. The organisers had arranged for about 6,000 people to drop in. A few hours later, more than 10,000 people were found bursting out of the makeshift arena, which had only one passage for entry and exit!

 

Soon, the lights turned green and the stadium erupted. The F1 car ripped deafeningly through the track, the stands vibrated, the media cheered and clapped as their ears popped. In less than what seemed to be a second, Hamilton reversed his car at the finish line and drove back. The track allowed him to achieve a top speed of 150km/hr, which by his standards bordered on geriatric.

 

The crowd, nevertheless, was ecstatic. Bits of rubber and tarmac flew into people’s faces. As the engine roared, hundreds ran across the field adjoining the track, and jumped on to the boundary wall that separated the two. In the tradition of Indian sports, every elevated structure was occupied by ticketless entrants.

 

Those in the stands probably felt frustrated by their inability to take a Sunday stroll on the track like the wall people. A few in the front row gently shook the grill that kept them fenced inside. Suddenly, they let out a resounding war cry of “Looouueeesss!” The feeble fence came crashing down. Fearing a stampede, several people jumped onto the tarmac, while some toppled over unflatteringly. I was unfortunately one of the latter. The police, most of whom did not know who Hamilton was, ran around, scaring everyone back behind the cage, as the show came to a standstill for a good half hour.

 

Later, in a press conference, Hamilton stated he has seen a lot of F1 fans that go crazy when such a show takes place, “but none quite as crazy and passionate as this.” He could not believe how enthusiastic the crowd was about F1. The sport may have quite a way to go in India but, judging by the excitement that this tiny glimpse inspired, there is no reason why F1 won’t work here.

 

Plug and Play Office Space or Furnished office space    

 

An Plug and play office space is generally a office space which is ready to occupy by an company and to start their business where everything needed for an office space will be pre-builded and kept ready to start and run an business.

 

The plug and play office space includes Ready to occupy spaces like Reception, Server room, Workstation (System Placing tables), Cabins, Disc room, Conference room, Library, Pantry area, Cafeteria, PABX (private automatic branch exchange), EPABX (electronic private automatic branch exchange), Data service, Voice Services, Access Control Services, wiring, network electronics, telephone system and wireless infrastructure to support a variety of needs, such as local and long-distance telephone, Internet access, local area network (LAN), wireless network, and connection to remote offices via a wide area network (WAN).

Live-inspace Corp serve provide services like plug and play office spaces in Bangalore, commercial spaces for rent in Bangalore, Office Spaces for rental in Bangalore, Commercial Spaces For Rent, Lease and sale services in Bangalore. Live-inspace corp serve provide services related to commercial stuffs throught Bangalore.

 

About Live-inspace Corp services

 

Live-in Space offers its customers a complete suite of Commercial and Office Space Solutions including buying, selling and leasing of property with an approach that is multi-disciplinary, well thought-out and completely integrated.

 

Accredited with an ISO 9001-2000 certification, Live-In Space is an eco-friendly firm who has effectively delivered numerous commercial projects by providing professional yet personalized services to our clients.

 

Right from selecting appropriate facilities to improving infrastructure to complete maintenance, we offer a variety of specialized and value-driven services that addresses the critical needs of the Corporates.

Founded in the year 2006, today live-in space has emerged as India’s most trusted Commercial Property Leasing Firm with a quality conscious and customer-centric mindset that is spreading its wings across many new frontiers.

 

Our office space Search facility is online. If you wish to speak to a serviced office space representative, then please call +91 (080) 41468648 or Mobile 9945235126, 9900264111.

 

Contact us for any type Commercial Real Estate Services and Advisory

Live-in Space Corp Serve & Pvt ltd.,

14, 1st Floor, 2nd ’A' Cross, 16th ’C' Main, 4th Block, Koramangala, Bangalore – 560034 India
Phone : +91 80 41468648 Mobile : +91 9945235126, 9900264111 Fax : +91 80 25503610

Website : www.live-inspace.com E-mail : liveinspacecorp@gmail.com