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Commercial Rentals in National Capital to fly

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According to the sources available to www.propertykhazana.com, rents in CBD & SBD like Connaught Place and Nehru Place are reaching sky top, against to this, satellite towns like Noida, Gurgaon and Faridabad are seeing a downfall in commercial rentals. A move in tendency can be a result of 2 things – Over supply of commercial space in satellite towns and Pending development of new SBD in Capital City at Jasola. Rentals for CS in CBD soar about Rs. 325 per Sq.ft a month and rents at these places have come high by 7-8% Quarter basis and by 50-80% on annual basis. Rentals in SBD have gone up by 15-20% on Quarter to Quarter basis and 50-70% on annual basis. This is for about Rs. 250 per month and having a look at the rental situation in satellite towns of Noida & Gurgaon they are about 40-50 per Sq.ft per month and Rs. 100 per Sq.ft per month. But, commercial rents in assured NCR markets are likely to experience improvements in stir of total commercial supply to go around 5.6 Million Sq.ft.
The rents might serene down in coming 5-6 months or observe slight improvements, said Vivek Dahiya, Director of DTZ India to www.propertykhazana.com. In view a high explosion of IT companies in NCR, commercial rental market in these places is likely to inflate by 20% in coming year and 50-60% growth is registered from 1 year. Jasola in South Delhi is surely the coming boomtown of the capital, with building activities of a little 2 Million Sq.ft of CS. Jasola is planned to open the road to achieve success in realty and famous real estate players like DLF, TDI and Omaxe have already booked the spaces for themselves. DDA, land managing body might sale some commercial plots in Jasola this year. This place is grabbing the attention from international companies & retail chains as compared to satellite towns in NCR, said the source to the www.propertykhazana.com.
Source: NBTVLIVE

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