[INDIA REAL ESTATE NEWS] Good morning everyone I am Rumi Dhar from Kama Group.
Here I have important INDIA real estate news to share with you which is as mention under.
Indian office property market has shown resilience as indicated by the rising net office take
up despite the impact of Covid-19 on the business environment and the emerging challenge
of the Work-from-Home model.
Office property markets across the country have witnessed a net absorption of 5.4 million
sq ft in the quarter ending September, a 64% rise against the June quarter that was
impacted significantly due to the lockdown, showed data from JLL India.
The jump in office absorption is an encouraging trend especially after it dipped almost at
a similar rate in the second quarter.
“While we continue to see the impact of the pandemic on various businesses, there is a
significant surge in activity across most office markets under consideration. This is seen
in gross leasing which more than doubled from the previous quarter at 13.8 million sq
ft,” said Ramesh Nair, CEO and Country Head, India, JLL.
At the same time, Nair also highlighted that large and mid-sized occupiers across major
markets continue to review their real estate portfolios in a bid to optimize cost and higher
emphasis is being given to sustainability and employee well-being as well as adoption of
flexible working practices.
While the share of occupiers from information technology (IT) and IT-enabled services
segment in gross leasing dipped to 43% in the quarter from 61% in previous quarter,
e-commerce and manufacturing sectors gained significant share and supported the market.
Read more at:https://www.prnewswire.com/in/news-releases/godrej-properties-is-chosen-as-the-new-brand-leader-of-indian-real-estate-862833142.html