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Rentals get rise for commercial realty at major locations

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With the time the injuries of realty is healing slowly at some major locations of the country. As per the sources reported at www.propertykhazana.com Mumbai still holds the second positions in terms of rental for the Asia Pacific region where Indian capital Delhi is placed at fourth marking with 730 USD per square meter per year. With a further growth of GDP nearly 7 percent to 10 percent is expected for India and China. For Mumbai and Delhi it is the symptoms of recovery which was dropped down to 25 percent by quarter of March 2009 where as Mumbai was witnessed with below 10 percent decline trailed by Delhi with 8 percent.
The average degradation for the Indian market was recorded with 8.5 percent which is half of the previous quarter with 19 percent as per the available source at www.propertykhazana.com. Coming to the adjacent city of Mumbai - Pune was least affected with 4 percent downfall which is expected to get up by 2011. By the end of 2009 it is also expected to cover up nearly 60 million square feet of commercial space bringing the vacancy rate to 27 percent by end of 2010 and 20 percent by 2011.
Among the other major cities of the country Bangalore outshines with lowest vacancy rate as it has been well responded with better leasing deals where main participants include pharmaceutical and telecom sectors. Recently telecom giants Aircel and Unitech’s Telenor has occupied a commercial space of around 5000 square feet taking advantage of the lower rentals of the market. For more updates visit www.propertykhazana.com.
Source: NBTVLIVE

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