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Commercial Realty scores zero in the 3rd quarter

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Compared with the 2nd quarter the 3rd quarter in the current financial year has been reduced and particularly the corporate office spaces in Mumbai are believed to be zero in the Economical Centre of India. In July and September it remained at 11% of the available supply and reports available with the property consultants CB Richard Ellis (CBRE) is that compared to the loosen supply in this quarter the 2nd quarter had 3.5 Millions Sq.Ft for new office spaces which being impart into the Mumbai property bazaar.
Source revealed at www.propertykhazana.com states, a cause for the frail supply of office space is because of the lethargic demand and strict liquidity chomp for the real estate ventures. Reports also says that “Delay on the financial credit of cautions approach to the new space which are taken up by many of the global fiscal occupiers.” Meantime, the chairman and managing director of CBRE (South Asia) Anshuman Magazine said that “There was a trend setting office space supply during the years 2006-2007 and at some stage the recede in the bazaar was due to the global crisis of 2008-2009. Commercial Realty was not affected because there were a lot of long-lasting ventures which took for about 2 to 3 years to complete.”
Source: Press Trust Of India

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