JLL India

The total leasing of office space, which comprises demand for all grades of buildings, rose 93 per cent year-on-year in January to 3.2 million square feet across seven major cities, according to property consultant JLL India. However, the leasing fell 56 per cent, compared to December 2022, which had seen 7.4 million square feet office space absorption. In January 2022, the aggregate leasing activities stood at 1.7 million square feet. The aggregate office market leasing activities refer to transactions for all grades or types of buildings in the top seven cities (Delhi-NCR, Mumbai, Bengaluru, Chennai, Hyderabad, Pune and Kolkata). The data includes confirmed pre-commitments and term renewals. Deals in the discussion stage are not included. JLL India said that fresh leasing, which included expansion and relocation-driven space take-up accounted for 87 per cent of all recorded transactions during the last month. "The month of January is typically a slow period, as the holiday seas

Sales of residential apartments, which rose 68 per cent in 2022, are likely to sustain this year on likely moderation in inflation and better price deals from builders, according to JLL India. In a statement, JLL India on Thursday said that the sale of apartments grew 68 per cent to 2,15,666 units in 2022 from 1,28,064 units in the previous year across seven major cities -- Mumbai, Delhi-NCR, Bengaluru, Hyderabad, Chennai, Kolkata and Pune. Mumbai includes Mumbai city, Mumbai suburbs, Thane city and Navi Mumbai. The annual sales of 2,15,666 units recorded in 2022, the highest in over a decade, next to the peak seen in 2010 at 2,16,762 units, it added. Data includes only apartments, while rowhouses, villas and plotted developments have been excluded. On the outlook, JLL India said, "Sales momentum is likely to sustain in 2023 on the expectations of moderating inflation supporting a reversal in repo rate hikes". "Moreover, likely measures from stakeholders, such as longer loan tenu

Make sure buying a house will not lead to compromises on other crucial financial goals

Net leasing of office space is likely to rise by 41-49 per cent across seven major cities this year on a lower base and improved demand post-pandemic, according to JLL India. Net absorption or leasing of office space stood at 26.2 million square feet in 2021, and it is likely to be in the range of 37-39 million square feet this year across seven cities -- Bengaluru, Delhi NCR, Chennai, Hyderabad, Kolkata, Mumbai and Pune. Nevertheless, the net office leasing will remain lower than the record absorption achieved in 2019 -- the pre-COVID year -- at 47.9 million square feet. Real estate consultant JLL India calculates net absorption as the new floor space occupied less floor space vacated. Floor space that is pre-committed is not considered to be absorbed until it is physically occupied. The net absorption for the first nine months of 2022 (January-September) is at a three-year high of 30.3 million square feet and on track to match the 5-year average (2015-2019) for the full year, it

Firms using data, sensitising managers to help employees as experts say more awareness, acceptability needed

The increase of 190 basis points (bps) in the repo rate resulted in a surge in mortgage rates with a transmission of 130-140 bps in the effective home loan rates: Radha Dhir

Net leasing of office space jumped over 2-fold in January-September across top seven cities to 30.26 million square feet, but is unlikely to breach the pre-COVID level this year, according to JLL India. Net leasing stood at only 14.63 million square feet in the corresponding period of the last year across seven major cities, as the demand was adversely impacted because of the COVID-19 pandemic and lockdowns. With the opening up of the offices and the overall economy, the demand for workspace has bounced back. Nevertheless, the net office leasing is unlikely to cross the record absorption achieved in 2019 -- the pre-COVID year -- at 47.9 million square feet. Net absorption is calculated as the new floor space occupied less the floor space vacated. Floor space that is pre-committed is not considered to be absorbed until it is physically occupied. As per the JLL India data, the net leasing of office space in Bengaluru rose 45 per cent in January-September to 7.84 million square feet

India is expected to get its first Real Estate Investment Trust (REIT) of retail assets soon as institutional investors and developers look to monetise their rent-yielding space in shopping malls, according to JLL India. REIT, a popular instrument globally, was introduced in India a few years ago to attract investment in the real estate sector by monetising rent-yielding assets. It helps unlock the massive value of real estate assets and enable retail participation. At present, there are three listed REITs - Embassy Office Parks REIT, Mindspace Business Parks REIT and Brookfield India Real Estate Trust - on Indian stock exchanges but all these are of leased office assets. Property consultant JLL in its latest report on retail real estate segment highlighted that institutional investment in the retail sector has been picking up since 2021. More than USD 862 million investments have come from 2021 (excluding portfolio deals). Many global investors are investing in the retail sector .

Total office space leasing in July jumped over twofold annually across seven cities to 8.8 million square feet, according to JLL India. Real estate consultant JLL India in its 'Aggregate Monthly Office Lease Tracker' said the total leasing stood at 3.9 million square feet in July last year and 5.8 million square feet in the previous month. The aggregate market leasing activity refers to lease transactions for all grades or types of office buildings in the top seven cities (Delhi-NCR, Mumbai, Bengaluru, Chennai, Hyderabad, Pune and Kolkata), including confirmed pre-commitments and term renewals. Bengaluru, Mumbai and Delhi-NCR remained the top three cities with a cumulative share of 85 per cent in the July 2022 monthly leasing activity tracker. "Around 2.27 million square feet of the aggregate monthly leasing activity was on account of renewals, highlighting the long-term occupier confidence in India and the physical workplace being central to the evolving portfolio strategies," the

Bengaluru leads in lease transactions and it is followed by Delhi-NCR, Mumbai, and Chennai

The positive impact of the reforms resulted in investments to the tune of USD 36.7 billion flowing into Indian real estate from 2015 to Q1 of 2022 calendar year, it said

Propelled by online retail and a shift to virtual working and learning, the two segments are driving business for logistics firms at a time when demand for office space has shrunk

Sees NHAI giving impetus to modernisation of Indian Highway network, culminating in various advantages for highways users, market players, developers, investors, and facility operators

Mumbai's data centre capacity is likely to grow by more than two times its current capacity by 2023, according to a JLL report.

India's hospitality industry witnessed a decline of 38.7% in Revenue Per Available Room (RevPAR) during the first quarter of 2021 as compared to the year-ago period

They are using the interregnum to expand and to negotiate cheaper real estate deals to add seating capacity

An investment of $3.7 billion (about Rs 27,000 crore) will be required over the next three years to develop six million sq ft space for the data centre sector, according to a report by JLL India

Dhir earlier served as group president at Yes Bank, where she was head of multinational corporate banking

Currently market penetration of flexible spaces into India's total office stock stands at 3%

Net leasing of office space fell 50% across 7 top cities to 5.4 million sq ft as corporates and coworking players continued to defer their expansion plans due to Covid-19, according to JLL India