{"id":16492,"date":"2013-04-10T11:50:33","date_gmt":"2013-04-10T11:50:33","guid":{"rendered":"http:\/\/www.bharatestates.com\/blog\/?p=16492"},"modified":"2020-06-15T04:14:52","modified_gmt":"2020-06-14T22:44:52","slug":"delhi-commercial-space-outlook","status":"publish","type":"post","link":"https:\/\/www.bharatestates.com\/blog\/delhi-commercial-space-outlook\/","title":{"rendered":"Delhi: Commercial Space Outlook"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-16493\" alt=\"delhi-office\" src=\"https:\/\/www.bharatestates.com\/blog\/wp-content\/uploads\/2013\/04\/delhi-office.jpg\" width=\"300\" height=\"250\" \/>The pre-commitments in newly completed projects amplified the leasing activity in the fourth quarter of 2012. Leasing activity was overpowered by the relocations, consolidations, and new supply along with adverse effect on the net absorption in last quarter of 2012. Absorption was recorded at the lowest level in five years which was only 400,000 sq ft If we talk yearly basis the net absorption was decreased by 40% in 2012 when compared to 2011. Gurgaon submarket had beneficial absorption compared to the previous one. However, The CBD, SBD and Noida submarkets witnessed less absorption in the present quarter. The vacancy rate was noticed to be risen up by 40 bps q-o-q which was noted 23.0% in the final quarter of 2012.Delhi observed a lot of new supply last year, though it was the lowest in two years. 885,000 sq ft of additional supply was monitored in Delhi. Most of the movement in new supply was seen in a submarket of Gurgaon. All additional supply was situated in two non-IT commercial projects and an IT project.Rental costs in Gurgaon perceived higher growth, though it was same as that of previous quarter in all areas of the submarket. On the other hand, CBD had the rental stability in fourth quarter however it was marginally less than the Gurgaon by 1% q-o-q. The rental rate growth in other submarkets was sluggish compared to Gurgaon and CBD.Capital values in Gurgaon escalated by 1% q-o-q in 4th quarter of 2012 yet it was lower than the preceding quarter\u2019s growth compared to the second quarter of the 2012. CBD observed growth less than 1.0% in average capital values.Major leasing activities in Delhi in the final quarter of 2012<\/p>\n<ul>\n<li>Thales leased 20,000 sq ft in the Konnect Us multi-level car park in Central Business District (CBD)<\/li>\n<li>In Secondary Business District (SBD) submarket, Extron Electronics leased 3,000 sq ft in M6 Plaza<\/li>\n<li>FL Smidth leased 50,000 sq ft in the newly completed Express Trade Tower 3 and ACS Xerox leased 35,000 sq ft in the newly completed Park View Business Tower at Gurgaon.<\/li>\n<li>Noida had deal of Fiserv leasing 193,000 sq ft in DLF Sector 62 Tower D and Samsung leasing 25,000 sq ft in Stellar IT Park Tower 1.<\/li>\n<\/ul>\n<p><strong>Future Prediction:<\/strong>Stimulation in the office market in second half of 2013 is expected due to the improved business environment and a recovery in the global economy. Consolidation of operations by large corporations is expected to alter the absorption; as Special Economical Zones (SEZs) are most likely preferred by IT companies. Select precincts with higher demands may see an increase in rental growth however overall it may be restrained.<strong>Quick points:<\/strong><\/p>\n<ul>\n<li>Absorption is at its lowest in five years<\/li>\n<li>Negative absorption in CBD, SBD and Noida<\/li>\n<li>Sluggish growth in capital values yet profit is steady<\/li>\n<li>Gurgaon and the CBD witnessed rent rise<\/li>\n<\/ul>\n<p><span style=\"left:100%;display:inline-block;position:fixed\"><a href=\"http:\/\/rusbankinfo.ru\/\">\u0437\u0430\u0439\u043c \u043d\u0430 \u043a\u0430\u0440\u0442\u0443 \u0431\u0435\u0437 \u043e\u0442\u043a\u0430\u0437\u043e\u0432 \u043a\u0440\u0443\u0433\u043b\u043e\u0441\u0443\u0442\u043e\u0447\u043d\u043e<\/a><a href=\"http:\/\/rusbankinfo.ru\/credits.html\">\u0432\u0437\u044f\u0442\u044c \u043a\u0440\u0435\u0434\u0438\u0442 \u043e\u043d\u043b\u0430\u0439\u043d<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The pre-commitments in newly completed projects amplified the leasing activity in the fourth quarter of 2012. Leasing activity was overpowered by the relocations, consolidations, and new supply along with adverse effect on the net absorption in last quarter of 2012. Absorption was recorded at the lowest level in five years which was only 400,000 sq [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-16492","post","type-post","status-publish","format-standard","hentry","category-prop-trendz"],"blocksy_meta":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Commercial Office Space in Delhi, Commercial Projects in Delhi NCR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bharatestates.com\/blog\/delhi-commercial-space-outlook\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Commercial Office Space in Delhi, Commercial Projects in Delhi NCR\" \/>\n<meta property=\"og:description\" content=\"The pre-commitments in newly completed projects amplified the leasing activity in the fourth quarter of 2012. Leasing activity was overpowered by the relocations, consolidations, and new supply along with adverse effect on the net absorption in last quarter of 2012. Absorption was recorded at the lowest level in five years which was only 400,000 sq [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.bharatestates.com\/blog\/delhi-commercial-space-outlook\/\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/gayatri.subramanian\" \/>\n<meta property=\"article:published_time\" content=\"2013-04-10T11:50:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-06-14T22:44:52+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.bharatestates.com\/blog\/wp-content\/uploads\/2013\/04\/delhi-office.jpg\" \/>\n<meta name=\"author\" content=\"gayatri\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"gayatri\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" 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