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NCR Rental likely to come under control

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According to the sources available with www.propertykhazana.com, commercial realty services firm CB Richard Ellis said that rentals are likely to be steady in coming financial Quarter as the supply is ready to hike considerably in Gurgaon and Noida. Sources says, but there is no major alter in supply is likely in Delhi except in Jasola where an extra 500,000 Sq.ft is likely to be added in the 2nd Quarter. Rentals rise increasingly in the Central Business District Area of Connaught Place in the lack of any new cater in the initial Quarter of 2008. But, CBRE predicts that there will be no breaks in leasing in the near future in the lack of any forthcoming cater in the Central Business District of Delhi. The average rent in Connaught Place (Grade A) rise to Rs. 340 per Sq.ft per month in March this year from Rs. 325 in December 2007.
“As the marginal markets Gurgaon and Noida, the rentals are likely to calm down in the coming Quarter and the rentals in Gurgaon showed no signal of reduce in the last Quarter. But, they are likely to stay firm in coming Quarter with extra cater on the MG and Golf Course Road equalizing the company demand,” said the CBRE to www.propertykhazana.com. Noida carry on to be a charming destination for IT/ITes conglomerates mainly for their back office businesses. Absorption prices in Noida are likely to hike much this year with better infrastructure and reasonable rentals.
Source: NBTVLIVE

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