Bangalore Economy and Real Estate thread II

[gentem]

Demand for commercial space rising in Bangalore

The city emerges as a clear preference for sectors such as office and retail, while hospitality comes a close third.

http://www.thehindubusinessline.com/...2450361100.htm

Outer Ring Roadremains the most attractive IT/ITeS growth corridor.

Anjana Chandramouly

Bangalore will soon overcome the slowdown of the last two years in the commercial real-estate segment , when demand for office space had dipped severely.

With the IT/ITeS sector back on the path of recovery now, the city is again emerging as a preferred destination for multinational companies wanting to set foot in India or expand their existing operations . Demand for office space in the country's IT capital is expected to gather pace in the next few years.

According to a recent Cushman & Wakefield report, the city emerges as a clear preference for sectors such as office and retail, while being a close third in hospitality.

“The expected recovery in the IT/ITeS sector would have a positive effect on the demand in Bangalore, the preferred location for many IT/ITeS companies. It is expected to see the highest demand for office space within 2010-2014 of approximately 42 million sq ft,” it says.

On the other hand, demand for retail space is also expected to be the highest in Bangalore with approximately 7.6 million sq.ft, while demand in the hospitality sector is expected to be 9.8 million room nights and in residential, it is expected to be approximately 2.3 lakh units over 2010-14.

Demand to exceed supply

Mr Manish Aggarwal, Executive Director - Investment Services, Cushman & Wakefield India, explains that the overall demand for commercial office space is subdued in comparison with the supply, which is estimated to be approximately 400 million sq.ft during 2010-14, “implying caution and the need for quality supply at the right prices”.

However, Bangalore, which holds the largest share of the demand pie, will be the only city where the demand would exceed supply over the next five years, he says. “This is essentially because requirements of IT companies are much larger than most other sectors and the city, for long, has been the preferred IT destination.”

Though the city is facing a scenario of oversupply now, good deals are taking place, says Mr Vineet K. Singh, Business Head, 99acres.com. According to him, about 10 million sq.ft of ready-to-move-in office space is currently available in the city, and more supply is expected in the immediate future. But in the medium-term perspective, “we expect a robust demand because India's growth story is still intact,” he says.

Mr Ram Chandani, Deputy Managing Director - South India, CB Richard Ellis (CBRE) India, points to an increase in demand from end-user occupiers and also absorption in the city's central business district (CBD) area. The supply has been very limited, he explains, adding that “whatever has come in has been occupied in the CBD”.

ORR bustling with action

The one location that is still seeing a lot activity is the Outer Ring Road (ORR), which accounts for almost 25 per cent of the city's total IT space, 75 per cent of its total operational IT/ITeS SEZ space and 95 per cent of office space occupied by IT/ITes companies.

According to Mr Chandani, there is a lot of supply of SEZs and non-SEZs on the ORR. About 8 lakh sq.ft of non-SEZ space has been pre-committed by several multinationals on the ORR, he says. Besides, there are four large SEZs also, where space has been already committed.

“There is no new space for corporates who are looking for expansion or consolidation and want to be only on the ORR because of the available social infrastructure,” he adds.

In the inaugural (September) edition of its IT/ITeS Growth Corridor Series, which focuses on Bangalore's ORR spanning from Hebbal to Silk Board Junction, Vestian Global Workplace Services, a real-estate services firm, says that the ORR has 18.6 million sq.ft of operational Grade A office space, 3.3 million sq.ft under construction and 28 million sq.ft planned Grade-A office space.

“As of H1 2010, vacancy level is only 5 per cent (1 million sq.ft) and it is expected to drop further by end of 2010,” it adds.

“The ORR will to continue to remain an attractive IT/ITeS growth corridor of Bangalore and improve further with planned completion of numerous flyovers/underpasses between Hebbal and Silk-Board Junction by end-2011. This will be further enhanced through the upcoming business and social infrastructure,” says Mr Shrinivas Rao, CEO, Vestian Global Workplace Services.

According to him, a few factors that make the ORR one of the most attractive IT growth corridors of Bangalore are the availability of large land parcels, and proximity to established IT talent pool and residential hubs when compared with other peripheral locations of Bangalore.

“Ongoing infrastructure works aimed to transform the ORR into a signal-free corridor and the upcoming hotel and retail projects will further enhance connectivity and support infrastructure in this micro market.”

However, Mr Rao also feels that the growth of the ORR may slow down due to the shift in focus towards Bangalore North for upcoming developments. North Bangalore is seeing a lot of surge in real-estate activity after the international airport was shifted to Devenahalli.

Quite a few SEZs have been planned in this region, and since infrastructure is picking up, real-estate analysts feel that the region will also pick up in the coming years. “Once the residential market picks up there, commercial activities will follow,” says Mr Chandani of CBRE.

Apart from North Bangalore, one micro-market that will also see a surge in office space development is Whitefield, he adds.

Due to non-availability of space in the CBD and non-CBD areas, this will see a lot of growth in the next few quarters, he explains. At a lease/rental rate of Rs 26-30 per sq.ft, the cost for an end-user is cheapest at Whitefield, with social infrastructure in place. There is ample land still available to cater to future growth.

whitefield scored over el-city when airport shifted north...

[gentem]

New Geographer
The World's Fastest-Growing Cities
Joel Kotkin, 10.07.10, 06:00 PM EDT
The urban powerhouses of the next decade aren't behemoths like New York or Mumbai, but smaller cities like Chongqing, China; Santiago, Chile; and Austin, Texas.

http://www.forbes.com/2010/10/07/cit...el-kotkin.html

The evolution of cities is a protean process--and never more so than now. With over 50% of people living in metropolitan areas there have never been so many rapidly rising urban areas--or so many declining ones.

Our list of the cities of the future does not focus on established global centers like New York, London, Paris, Hong Kong or Tokyo , which have dominated urban rankings for a generation. We have also passed over cities that have achieved prominence in the past 20 years such as Seoul, Shanghai, Singapore, Beijing, Delhi, Sydney, Toronto, Houston and Dallas-Fort Worth.

Nor does our list include the massive, largely dysfunctional megacities--Mumbai, Mexico City, Dhaka, Bangladesh--that are among planet's most populous today. Bigger often does not mean better.


Instead, our list focuses on emerging powerhouses like Chongqing, China, (population: 9 million), which Christina Larson in Foreign Policy recently described as "the biggest city you never heard of."

Chongqing sits in the world's most important new region for important cities: interior China. These interior Chinese cities, notes architect Adam Mayer, offer a healthy alternative to coastal megacities such as Shanghai, Hong Kong, Shenzen and Guangzhou, which suffer from congestion, high prices and increasingly wide class disparities. China's bold urban diversification strategy hinges both on forging new transportation links and nurturing businesses in these interior cities. For example, in Chengdu, capital of the Sichuan province, new plane, road and rail connections are tying the city to both coastal China and the rest of the world. And the city is abuzz with new construction, including an increasing concentration of high-tech firms such as Dell ( DELL - news - people ) and Cisco ( CSCO - news - people ).

India, although not by plan, also is experiencing a boom in once relatively obscure cities. Its rising urban centers include Bangalore (home of Infosys and Wipro ( WIT - news - people )), Ahmedabad (whose per-capita incomes are twice that of the rest of India) and Chennai (which has created 100,000 jobs this year). Many of India's key industries--auto manufacturing, software and entertainment--are establishing themselves in these cities.

http://www.forbes.com/2010/10/07/cit..._slide_16.html
3. Ahmedabad ( where 7 days of a week are dry days )
10. Chennai (no comments )
15. Bangalore

Bangalore, India

Many big players in tech and services--Goldman Sachs, Cisco, HP as well as India-based giants like Tata--have located operations in Bangalore. But the city also boasts home-grown tech giants Infosys and Wipro, which each have over 60,000 employees worldwide. Since 1985 Bangalore's population has more than doubled to over 7 million and is projected by the U.N. to reach 9.5 million by 2025. In the future, maintaining Bangalore's advantage over smaller, less congested cities could prove a challenge.

Not sure the slideshow is in order or random

[engineer.akash]

Aerospace, defence firms make beeline for SEZ
Mahesh Kulkarni | 2010-10-25 00:20:00

Even as the approval from the Board of Approval is yet to come for the development of the aerospace special economic zone (SEZ) near the Bangalore international airport, the Karnataka government has already attracted aviation and defence majors to set up shop there. The government is moving forward to materialise the aerospace SEZ, which will be the second such SEZ in the state.

Companies like Amada of Japan, Dynamatics Technologies, BEML Ltd, Hindustan Aeronautics Limited have acquired land at the Aerospace SEZ. The Karnataka Industrial Area Development Board (KIADB) has acquired 1,000 acres for the SEZ. About 55 per cent of the land will be allotted to companies for setting up factories.

Units in the SEZ will cater to domestic demand as well as the export market. The park will include aviation MRO (maintenance, repair and overhaul) activities too. This would be the second aerospace SEZ after Quest’s aerospace SEZ in Belgaum district, which is already functional. In addition to these two, Mahindra & Mahindra is also planning its own aerospace SEZ in Bangalore.

According to V P Baligar, principal secretary, department of commerce and industries, the KIADB has so far allotted 100 acres to HAL, 35 acres to Dynamatics Technologies, 25 acres to BEML Ltd and eight acres to Amada to set up their manufacturing facilities. These companies have paid 20 per cent of the land value to KIADB towards the land acquisition.

BEML, the public sector undertaking under the ministry of defence, and a maker of rail, metro coaches and construction equipment, is setting up a manufacturing plant at the aerospace SEZ at an investment of Rs 316 crore. It plans to manufacture a wide range of aerospace components to make use of the opportunities available under the defence-offset business. The products be manufactured at this plant include aircraft components, assemblies and MRO activities related to aerospace applications.

The company has set up an Aerospace Manufacturing Division (AMD), to explore opportunities in the sector. It would provide jobs to 235 persons at this plant.

HAL plans to establish a unit for manufacture of TPE 331 engine and engine components, ring rolling, fan cases, welded structural assemblies, maintenance, repair and overhaul of civil aircraft, engines and manufacture of helicopters. The total investment from HAL would be Rs 2,100 crore and create 1,631 jobs.

Dynamatic Technologies has entered into a partnership with Spirit AeroSystems Europe Ltd to manufacture wing flap track beams for Airbus A320-family aircraft. The company is looking to invest Rs 465 crore to set up an aerospace components unit. It would be creating jobs for 2,100 persons at the plant.

Amada (India) Pvt Ltd has proposed to invest Rs 44 crore to set up a technology centre. Other small companies that would be setting up facility at the Aerospace SEZ includes AIMIL Ltd for components, Ayyappa CNC Pvt Ltd for aerospace components, Centum Electronics Ltd, Dynatech Tools and Devices, Priyaraj Electronics Ltd, Sunshine Aerospace Pvt Ltd, Universal Electro Magnetic Cores and Yamini Automation Pvt Ltd.

In June this year, the state government had signed MoUs with these companies to set up facilities at the aerospace

SEZ for a combined investment of Rs 2,936 crore. The government expects to attract more companies to the aerospace SEZ once the Centre’s approval comes through. It is estimated that each acre of land at the SEZ would see an investment of Rs 5-10 crore. This would translate into investments of about Rs 10,000 crore at the Aerospace SEZ, Baligar said.

The aero and defence-related offset business is expected to exceed $15 billion in the next 10 years.

Sify

[ChennaiIndian]

Originally Posted by gentem

...
10. Chennai (no comments )
...

As long as you don't pass random comments on this, you don't need to run away.

[Raji7373]

[QUOTE=gentem;64151665]City a campus for overseas docs
Jayashree Nandi, TNN, Sep 23, 2010, 12.03am IST


Bangalore - Medical knowledge capital of Asia. QUOTE]


Medical Knowledge capital of Asia...BAKWAS. This is not correct. This TOI has none other job than giving all wrong news. What about AIIMS, JIPMER - Pondicherry, CMC-Vellore, MMC etc. Out of top 25 medical colelges most are from Delhi, Mumbai & TN.

http://indiatoday.intoday.in/site/Ph...dia,-2010.html

[Raji7373]

10. Chennai (no comments )

No one is inviting you to chennai to run away...

Hey, these guys have too much superiority complex without nothing...They think they are a city next to new york or tokyo...(No power, no proper infra, no political stability, No 1 corrupt state of India )

See the basis of which he is assessing...Ahmedabad - dry 7 days a week. Is this have any relevance with development of a city and creation of job. May be then Dubai, Abudhabi etc must not develop at all...same way Singapore has more r less same weather condition of Chennai as I lived there.....

During Economic crisis ..people know which was the city which got hit the most...

[gentem]

Originally Posted by Raji7373

City a campus for overseas docs
Jayashree Nandi, TNN, Sep 23, 2010, 12.03am IST


Bangalore - Medical knowledge capital of Asia. QUOTE]


Medical Knowledge capital of Asia...BAKWAS. This is not correct. This TOI has none other job than giving all wrong news. What about AIIMS, JIPMER - Pondicherry, CMC-Vellore, MMC etc. Out of top 25 medical colelges most are from Delhi, Mumbai & TN.

http://indiatoday.intoday.in/site/Ph...dia,-2010.html

Good link u gave... 2 in kataka in top 10 med colleges.. st. johns and kasturba manipal. bmc and ramiah in top 25
bonus:
*1/3 cardiac surgeries of whole india done in blore
* nimhans elevated recently to aiims level by central govt...

not just medical knowledge, blore is all knowledge capital of asia, not just india. the soft power

No one is inviting you to chennai to run away...

actually i did not run away from chennai, instead i ran away from commenting on chennai coz many chen ppl guard this blore forum...

Dubai no alcohol ban is there, do some homework before posting random

[Indian Sun]

As long as you don't pass random comments on this, you don't need to run away.

10. Chennai (no comments )

No one is inviting you to chennai to run away...

Hey, these guys have too much superiority complex without nothing...They think they are a city next to new york or tokyo...(No power, no proper infra, no political stability, No 1 corrupt state of India )

See the basis of which he is assessing...Ahmedabad - dry 7 days a week. Is this have any relevance with development of a city and creation of job. May be then Dubai, Abudhabi etc must not develop at all...same way Singapore has more r less same weather condition of Chennai as I lived there.....

During Economic crisis ..people know which was the city which got hit the most...

When someone can never be objective, that someone has to be ignored, guys.

[reswaran]

Originally Posted by Indian Sun

When someone can never be objective, that someone has to be ignored, guys.

For me, every city in India looks like a urban hell (as said in India Today). Because a city in India has highest per capita income, or has the higest folks earning more than 10L per annum, doesnt make any difference. Its going to be a total collapse one day where things are totally out of the government's control and all the so called politicians might run away to other countries with the money they looted, causing a revolution.

Though my job mandates me to stay in a city, now-a-days my heart yearns for the calm and peaceful life that a small town or a village gives. Bumper to bumper traffic, lack of proper roads, water scarcity, power problems, corruption, people running behind money like a dog, are making me sick day by day. Of course no one can deny that at least one of it is not in their city. Because of all these so called globalization or economic boom, can anyone say that the happiness or satisfaction quotient of Indian population has increased than it was 15 years ago?? I dont think so...... We blame the way US works for all the crisis or recession...but we, India, blindly copy them in the way we live, work and play...but with our poor infrastructure

[amarprince]

MUMBAI: Billionaire Vijay Mallya , owner of the world’s second-largest liquor company, is razing his ancestral home in Bangalore to build $4 million apartments as the number of people rich enough to afford them grows.

United Breweries Holdings , which owns controlling stakes in Mallya’s liquor, beer and airline units, and Prestige Estates Projects are jointly developing the 4.5 acre (1.8 hectare) plot in the technology hub, home to Google Inc., Microsoft Corp. and Infosys Technologies Ltd. Construction will start in December, Irfan Razack, chairman of Prestige, said on Wednesday after the developer’s shares debuted.

Demand for luxury apartments in India is rising as the biggest rally in stocks in 18 years in 2009 boosted the ranks of the affluent in the thirdfastest growing major economy.

Mukesh Ambani, India’s richest individual , will move into a 27-storey skyscraper in south Mumbai that cost $2 billion to build and is the world’s most expensive home, according to Forbes Magazine. “There is now considerable demand for high-end apartments in Bangalore, and it is led by the senior management class, corporate houses, non-resident Indian businessmen and high-networth individuals,” said Anuj Puri, Mumbai-based chairman of Jones Lang LaSalle Meghraj, the local unit of the world’s second-largest commercial property broker .

The combined net worth of the nation’s 100 wealthiest people climbed to an all-time high of $300 billion this year, equivalent to a quarter of the country’s gross domestic product, according to Forbes. India’s wealthy may almost double their assets to $6.4 trillion over the next five years as economic growth swells their ranks, Credit Suisse Group AG said in its global wealth report.


http://economictimes.indiatimes.com/...ow/6833951.cms

[gentem]

Dubai emerges from economic downtown as world's fastest growing office market on a per capita basis

UAE, 5th October 2010 - Dubai has experienced the greatest growth in occupied office space of any major city in the world on a per capita basis over the past two and a half years, according to the latest research from Jones Lang LaSalle, the world's leading real estate advisory firm.

The new research, which compared data on 25 major global cities, reveals that Dubai is the fastest growing office market in the world on a per capita basis, with the total area of occupied Grade A quality office space increasing by 2.8 sq ft per capita since the beginning of 2008. While other markets have grown by much more in absolute numbers, these are far larger mega cities, hence Dubai score highest in terms of net absorption (the change in occupied office space) per capita.



International comparisons are notoriously difficult, given the different geographical coverage and definitions adopted in different real estate markets globally. The total occupied stock of offices in those areas of Dubai monitored by Jones Lang LaSalle is estimated to have increased by around 42% since January 2008. This places Dubai in fifth place globally when assessed against the pace of growth of other office markets monitored by Jones Lang LaSalle. The fastest growing cities globally on this measure have been the mega cities of Delhi (61%), Mumbai (58%) Beijing (56%) and Bangalore (43%), which have all experienced strong net absorption as their stock of international quality office space has expanded rapidly from a previous low base. Outside of the BRIC economies, Dubai has been the fastest growing city globally in percentage terms (calculated as the change in occupied office stock between January 2008 and July 2010, divided by the total occupied stock in January 2008).



Commenting on these findings, Blair Hagkull, Chairman of Jones Lang LaSalle MENA, stated: http://www.zawya.com/story.cfm/sidZA...capita%20basis

bangalore among top 5 global megacities Delhi zooming on metro train. Mumbai lot vacant, supply higher than demand, highest vacant office stock in india

[sunilkumar]

With the economy on the revival path, the IT hub of Bangalore is getting ready for the next wave of expansion, with global technology companies ramping up India operations.

A promising outlook for the Indian economy and increasing business demand have prompted networking major Cisco to look at diversifying into 30 new businesses including portable video, high-end video conferencing, and smart power grids for cities. With business looking up for Cisco, it is keen to expand its operations in India, primarily Bangalore, which is the company's second global headquarters after San Jose in the US. Currently, the company employs 6,000 people in India, including R&D, sales, and business support staff.

Mr Prasad H.R., Director-Facilities, Cisco India, said: “Globally, demand has revived with the rapid growth of and advances in networking, which in turn drives demand for advanced switches and routers. Cisco considers India a strategic growth region, and has significant business presence in India. Cisco is committed to continuing investment in our Bangalore facilities. Currently, we are occupying 1.4 million sq ft and plan to expand the facility to 2 million sq ft.”

Setting up bases

Realty analysts say that companies such as HP, Juniper Networks, Cap Gemini and Nokia are eyeing more space in the city. According to the IT/ITeS Growth Corridor report by real estate services firm Vestian Global Workplace Services, Nokia Technologies has leased 1.26 lakh sq ft, while Brocade and Akamai Technologies have taken up 90,000 sq ft and 60,000 sq ft space respectively on the Outer Ring Road (ORR).

It is not only the special economic zones and periphery that will see expansion. The central business district (CBD) is also seeing some action. For instance, virtual computing solutions provider Citrix recently opened its single largest development centre in the world, as it moved into its new facility in the heart of the city.

According to Mr Mark Templeton, CEO of Citrix, the 1.2-lakh-sq-ft R&D facility (which has the capacity for 1,500 people) will initially house 500 professionals and the company plans to ramp it up by 100 per cent in the next couple of years.

source: http://www.thehindubusinessline.com/...2952410400.htm

[sunilkumar]

Intelligent Energy, the global clean power systems company, has today announced the establishment of Intelligent Energy India Private Ltd. as its Bangalore, India based business liaison office. Intelligent Energy is now actively seeking partners to deploy its clean hydrogen fuel cell power systems and hydrogen generation technologies in the backup power, automotive and defence markets

Full article:http://www.businesswire.com/news/hom...E2%80%9D-India

[sunilkumar]

Wikipedia with an aim to expand its presence in India and to increase number of articles in different Indian languages is finally turning its attention to India. The Wikimedia Foundation (WMF) is expected to set up a small office in the country within the next six months. This office is likely to extend support to its existing setup in Bangalore.

Full article :http://topinews.com/mainstream/2010/...t-shift/44609/

[Indian Sun]

That's interesting. Because, Jimmy Wales once visited my college in 2009 for a guest lecture. He mentioned that they were a small group, 22 employees, and that he would like to keep it that way.

[gentem]

Banks will now lend only 80% of home price
TNN, Nov 3, 2010, 01.10am IST

MUMBAI: While most banks are in a wait-and-watch mode on their lending and deposit rates after the Reserve Bank of India's decision on Tuesday to hike key policy rates--repo and reverse repo--by a modest 25 basis points (100 basis points=1%), it is certain that from now on, anyone applying for a housing loan from a bank will have to pay a margin money of at least 20% of the value of the property. This in effect means that you will have to shell out more from your own savings to buy that house you have been eyeing for a while. Earlier, this margin money varied between 10% and 15 %.

That's not all. The RBI also increased the risk weightage of loans above Rs 75 lakh taken for buying property, which could increase the interest rates on loans for high-cost properties. This is being seen as a pre-emptive measure to rein in the possibility of the creation of an asset bubble and a sign that there could be overheating in the property market.


Read more: Banks will now lend only 80% of home price - The Times of India http://timesofindia.indiatimes.com/b...#ixzz14CcbL1pF

20% is too steep dor home loan. 20 % may be ok for car loan, but 15% should be the limit for home loans. while car value depreciates, a home appreciates

[engineer.akash]

State mulls greater Peenya Industrial Estate

BS Reporter | 2010-11-04 01:20:00

State to develop Greater Peenya industrial estate near Bangalore

Karnataka plans to expand the Peenya Industrial Estate on the outskirts of Bangalore to accommodate new industrial units. The government plans to develop the area as the Greater Peenya industrial estate, a senior government official said.

"The government has been getting a lot of request from small and medium companies for creating new industrial estates in and around Bangalore. The government has already notified land adjacent to the Peenya industrial estate for development of Greater Peenya," V P Baligar said.

Addressing members of Federation of Karnataka Chambers of Commerce and Industry (FKCCI), here, he said the government has notified 200 acres at Nelamangala for developing Greater Peenya industrial estate. Of this, already a final notification has been issued for 135 acres, he said.

In addition to this, the government is also acquiring 600 acres at Doddaballapur, 3,000 acres near the international airport for developing new industrial townships.

The government has also received an encouraging response from industries for aerospace, software and hardware parks near the international airport, he said.

Apart from Bangalore, the government has also acquired 3,000 acres at Yadgir for developing industrial township. "We want to develop a pharma park in this place. Already the government has cleared applications from seven to eight pharma companies for setting up their facilities here. The government will create common infrastructure like effluent treatment plant and provide land for the companies," Baligar said.

He said, for the first time, the government is promoting "walk to work" concept in the state. This means, the new industrial townships will be developed including residential colonies for workers, he explained.

Land has been identified for development of new industrial townships in other places like Hoskote, Gauribidanur, Bagepalli, Kolar, Harohalli and Bidar, he said.

The state government is also planning to acquire another 800 acres for the expansion of Mangalore Special Economic Zone in Mangalore, he added.

BUSINESS_STANDARD

[gentem]

Brigade edges out MG Road

Sheen Off Blores High Street,Rentals Stagnate

TIMES NEWS NETWORK

Bangalore: Retail rentals in Bangalore's MG Road have fallen flat at Rs 180 per sft (monthly ) with the Metro construction adding to the logjam and Brigade Road moving up in the pecking order as a favourable location.The league table drawn by real estate consultants Cushman & Wakefield in a survey -- Main Streets Across the World 2010 -- provides a global barometer of the retail sector,tracking rents in the world's top 269 shopping locations across 59 countries.
While New Delhi's Khan market moved up three slots to become the 21st most expensive retail high street in the world topped by New York's Fifth Avenue at $1,850 sft per year.This was followed by Hong Kong's Causeway and Ginza in Tokyo took the third position overtaking London,Paris and Milan in the 2010 survey.
As consumer confidence is back with gusto,rental value in Delhi's Khan Market saw a 15.8% jump at Rs 1,100 per sft (monthly) as of June 2010 compared to the corresponding period last year.However,other retail high street destinations in New Delhi/ NCR did not see the same fervour and locations like Greater Kailash I (-10 %) and South Extension (-12 %) continued to see a downward trend.
On the flip side,rentals on Bangalore's MG Road have stagnated despite lack of supply,feels the executive director of Cushman&Wakefield India Kaustuv Roy."The perception of main street is changing.Transaction activity on MG Road is not much.Brigade Road is seen as a better location with more options to choose from.It will at least take two quarters before we can see a recovery in rentals."
Brigade Road has seen a 6.70% appreciation in rentals at Rs 400/sft (monthly) as of June 2010 over the corresponding period last year.On the positive side,New Delhi's Khan market moved up three slots to become the 21st most expensive retail high street in the world topped by New York's Fifth Avenue at $1,850 sft per year.



http://lite.epaper.timesofindia.com/...Hid=25-09-2010

Indira Nagar 100 ft road prices will increase as soon as metro starts. Or at least after metro construction blocking CMH road end.

Commercial street not mentioned??

Brigade Road 400
MG Road 180
100ft road Indiranagar 125

Highest by city:
Delhi 1100
Mumbai 665
Bangalore 400
Pune 250
Kolkata 245
Ahmedabad 130
Hyderabad 125
Chennai 125



reposting..

[sunilkumar]

The Institute of Electrical and Electronics Engineers (IEEE) has opened an office in the central business district of Bangalore, India. The new office will enable IEEE to support engineering and technical professionals in the country through a variety of educational and certification programmes. The Bangalore office will also allow IEEE to reach local representatives from academia, government and industry and explore additional business opportunities in the region. Planned activities include continuing education, biometrics certification and software development certificate programmes, and professional accreditation and standards activities, including educating local corporations about the role of IEEE standards development and implementation.

Source:http://www.telecompaper.com/news/art...spx?cid=765469

[Indian Sun]

Originally Posted by gentem

Brigade edges out MG Road

Sheen Off Blores High Street,Rentals Stagnate

TIMES NEWS NETWORK



Indira Nagar 100 ft road prices will increase as soon as metro starts. Or at least after metro construction blocking CMH road end.

Commercial street not mentioned??

Brigade Road 400
MG Road 180
100ft road Indiranagar 125

Highest by city:
Delhi 1100
Mumbai 665
Bangalore 400
Pune 250
Kolkata 245
Ahmedabad 130
Hyderabad 125
Chennai 125



reposting..

Delhi's highest is 1500.