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<strong>Pulse</strong><br />

Monthly Real Estate Monitor<br />

September 2015<br />

Market Highlights<br />

AUGUST 2015<br />

Office space demand<br />

improved across all<br />

cities barring<br />

Ahmedabad, Chennai<br />

and Kolkata<br />

Get city <strong>Pulse</strong> by clicking below<br />

Retail space leasing<br />

increased in Chennai,<br />

Hyderabad, Kolkata<br />

and Mumbai<br />

Residential demand<br />

continued to increase in<br />

Hyderabad


<strong>Pulse</strong><br />

Monthly Real Estate Monitor<br />

September 2015<br />

Commercial Real Estate<br />

up across Major Cities<br />

Average transacted office lease sizes across Mumbai, Bangalore,<br />

Chennai and Pune have increased from the uncertain times seen in<br />

1Q14 – prior to the general elections. Following elections in May<br />

2014, however, market sentiment improved gradually, while Mumbai,<br />

for example, witnessed 65% appreciation in average deal sizes<br />

between 2Q14 and 2Q15.<br />

Next<br />

India’s economy, defying weakness in<br />

developed countries and elsewhere in<br />

emerging Asia, expanded 7% in the April—<br />

June quarter, making it one of the world’s<br />

fastest-growing as China downshifts.<br />

Asia’s third-largest economy also continued<br />

to distinguish itself by being fuelled not by<br />

investments or exports but by consumer<br />

spending, which grew 7.4% y-o-y. Indians are<br />

still opening their pocketbooks despite a<br />

withering of demand in other large<br />

economies, which has sapped trade and<br />

production growth around the globe.<br />

Investment sentiments<br />

improving<br />

A sea-facing triplex penthouse of 17,000 sq. ft.<br />

carpet area in South Mumbai's Napean Sea<br />

Road locality is being sold for INR 2 billion,<br />

the biggest for a residential apartment in India<br />

The number of transactions has also increased considerably across<br />

all these cities. Pune leads with an impressive 89% y-o-y growth in<br />

transacted space per lease deal, followed by Bangalore at 78% and<br />

Chennai at 67%. Good days are returning for office real estate and<br />

tenants will remain in an expansionary mode. Occupiers are not only<br />

leasing larger office space, but they also expect all the space to be on<br />

the same floor. Developers are constructing bigger floor plates to<br />

meet the evolving demand.<br />

Ashutosh Limaye, National Director- Research, JLL India<br />

--------------------------------------------------------------------------------------------<br />

For further reading please refer to following link:<br />

http://www.joneslanglasalleblog.com/realestatecompass/real-estate/2015/08/commercialreal-estate-residential-major-indian-cities///<br />

The Centre named 98 cities for the Narendra Modi<br />

government's flagship Smart Cities project, with Uttar Pradesh<br />

bagging the most in August.<br />

To develop Rajarhat-New Town as a green and<br />

smart city, the Housing Infrastructure<br />

Development Corporation (HIDCO) will set up<br />

two new utility buildings in the township that will<br />

be developed as green buildings<br />

Legend: Market Sentiment<br />

Favourable Neutral Unfavourable


Cities<br />

Office<br />

Rental<br />

Value<br />

Retail<br />

Rental<br />

Value<br />

Residential<br />

Capital<br />

values<br />

AHMEDABAD<br />

DELHI<br />

MUMBAI<br />

DELHI<br />

PUNE<br />

BANGALORE<br />

AHMEDABAD<br />

KOLKATA<br />

CHENNAI<br />

MUMBAI<br />

PUNE<br />

HYDERABAD<br />

HYDERABAD<br />

KOLKATA<br />

Legend<br />

Growing Stabilise Stagnate Falling<br />

BANGALORE<br />

CHENNAI<br />

Back to top<br />

For more information about our research, contact<br />

Ashutosh Limaye<br />

National Director, Research and REIS +91 98211 07054 ashutosh.limaye@ap.jll.com<br />

Sujash Bera<br />

Manager, Research +91 98305 43922 sujash.bera@ap.jll.com<br />

Research Dynamics 2015<br />

<strong>Pulse</strong> reports from JLL are frequent updates on real estate market dynamics.<br />

www.joneslanglasalle.co.in


<strong>Pulse</strong><br />

Monthly Real Estate Monitor<br />

September 2015<br />

Ahmedabad<br />

Demand<br />

RV<br />

Demand<br />

RV<br />

Demand<br />

RV<br />

OFFICE<br />

Vacancy<br />

CV<br />

RETAIL<br />

Vacancy<br />

CV<br />

RESIDENTIAL<br />

Launches<br />

CV<br />

The office space transactions in<br />

Ahmedabad remained moderate<br />

during the month of August. Select<br />

pockets such as CG Road observed<br />

some traction. Small office units<br />

ranging from 2,000 – 3,000 sq. ft. got<br />

transacted the most.<br />

Major transactions:<br />

• Amazon Prione in CBD<br />

Retail malls in Ahmedabad continued<br />

to see lukewarm transaction during<br />

the month. Nonetheless, the demand<br />

for strategically located commercial<br />

development with showroom spaces<br />

remained noteworthy.<br />

Major transactions:<br />

• Nexa in SBD<br />

Residential sector in Ahmedabad<br />

witnessed stable demand over the<br />

month. New launches were mostly in<br />

affordable segment especially in the<br />

nodes such as Bopal, Chandkheda,<br />

Naroda.<br />

New Launches:<br />

• Jewel Residences in Ambli Road<br />

The Sardar Patel Institute of Public Administration (SPIPA) has lined up<br />

an expenditure plan worth INR 140 crore to beef up and upgrade its<br />

infrastructure to be at par with the top institutes of the country. Top<br />

architects from the state will be taken on board for the purpose.<br />

Key Precincts<br />

Rental Value<br />

(INR per sq ft<br />

per month)<br />

Capital Value<br />

(INR per sq ft)<br />

Prahlad Nagar 35–50 6,000–7,500<br />

S G Highway 35–50 6,000–7,500<br />

Ashram Road 32–42 5,500–6,500<br />

Navarangpura 32–44 5,500–6,500<br />

Koba 22–35 4,000–5,000<br />

Key Precincts<br />

Rental Value<br />

(INR per sq ft<br />

per month)<br />

Back to top<br />

Capital Value<br />

(INR per sq ft)<br />

CG Road 100–125 16,000–18,000<br />

SG Highway 80–110 11,000–13,000<br />

Ashram Road 110–130 14,000–16,000<br />

Chandkheda 60–80 9,000–12,000<br />

Koba 50–70 8,000–10,000<br />

Rental Value<br />

Key Precincts<br />

(INR per month<br />

Capital Value<br />

for a 1,000 sq ft<br />

(INR per sq ft)<br />

2BHK<br />

apartment)<br />

Naroda 4,000–6,000 2,200–2,500<br />

Gota 5,000–8,000 2,500–2,800<br />

Navrangpura 15,000–20,000 6,000–7,000<br />

SG Highway 10,000–15,000 5,500–7,500<br />

Satellite 12,000–15,000 4,000–6,000<br />

South Bopal 8,000–12,000 3,000–4,000<br />

Demand/Vacancy<br />

Rental Value (RV) / Capital Values (CV)<br />

Increasing Moderate Increase Stable Moderate Fall Falling


<strong>Pulse</strong><br />

Monthly Real Estate Monitor<br />

September 2015<br />

Bangalore<br />

Back to top<br />

Demand<br />

RV<br />

OFFICE<br />

Vacancy<br />

CV<br />

Good connectivity with good<br />

infrastructure and availability of Grade<br />

A office projects were the main key<br />

factors to keep the demand intact in<br />

the Outer Ring Road over the month.<br />

However, less space availability for<br />

leasing in this sub-market pushed the<br />

rents upwards.<br />

Major transactions:<br />

• Citrix at Inner Ring Road<br />

Key Precincts<br />

Rental Value<br />

(INR per sq ft<br />

per month)<br />

Capital Value<br />

(INR per sq ft)<br />

CBD 80–130 10,000–22,000<br />

Old Airport Road 60–75 7,000–12,000<br />

Outer Ring Road (Eastern) 52–65 6,000–8,500<br />

Old Madras Road 48–65 5,200–7,000<br />

Electronic City 28–34 3,000–3,800<br />

Demand<br />

RV<br />

Demand<br />

RV<br />

RETAIL<br />

Vacancy<br />

CV<br />

RESIDENTIAL<br />

Launches<br />

CV<br />

Retail demand improved significantly<br />

over the month.<br />

Major transactions:<br />

• Farzi Café, Made in Punjab and<br />

Ducati, all at UB City Mall<br />

• Nandos at Indira Nagar<br />

Launches in August remained healthy<br />

with the city witnessing good volume<br />

of high end projects.<br />

Key Launches:<br />

• Sobha Clovelly at<br />

Padmanabhanagar<br />

• Godrej Gold County at Tumkur<br />

Road<br />

• VKC Chourasia Sapphire at<br />

Mahadevapura<br />

The Bangalore Metro Rail Corporation Limited (BMRCL) revised the plan<br />

for the part of phase-II metro rail project at Jayadeva hospital junction. As<br />

per the new plan Jayadeva flyover will get demolished to build two levels<br />

of metro lines above the flyover at maximum height of 22 m for the<br />

Gottigere and Nagavara line above the ground level and also 14 buildings<br />

out of 98 will be razed under this plan. BMRCL allocated INR 245 Billon<br />

for this two line metro rail which is of 72km length.<br />

Key Precincts<br />

Rental Value<br />

(INR per sq ft<br />

per month)<br />

Capital Value<br />

(INR per sq ft)<br />

Koramangala 90–160 9,000–18,000<br />

Indiranagar 90–180 12,000–18,000<br />

New BEL Road 60–80 6,000–12,000<br />

Commercial Street 175–250 16,000–20,000<br />

Jayanagar 100–170 8,000–18,000<br />

Rental Value<br />

Key Precincts<br />

(INR per month<br />

Capital Value<br />

for a 1,000 sq ft<br />

(INR per sq ft)<br />

2BHK<br />

apartment)<br />

Old Madras Road 15,000–25,000 5,000–8,000<br />

Indiranagar 25,000–35,000 10,000–25,000<br />

Bellary Road 12,000–18,000 4,500–11,000<br />

Hosur Road 10,000–14,000 4,000–6,000<br />

Whitefield 18,000–25,000 5,000–9,000<br />

Tumkur Road 8,000–12,000 3,600–5,500<br />

Kanakapura Road 10,000–17,000 4,200–6,500<br />

Mysore Road 8,000–10,000 3,500–5,000<br />

Demand/Vacancy<br />

Rental Value (RV) / Capital Values (CV)<br />

Increasing Moderate Increase Stable Moderate Fall Falling


<strong>Pulse</strong><br />

Monthly Real Estate Monitor<br />

September 2015<br />

Chennai<br />

Back to top<br />

Demand<br />

OFFICE<br />

Vacancy<br />

The growth of banking and health care<br />

was the trend that continued even<br />

during this month<br />

Major transactions:<br />

• World Bank in OMR Perungudi<br />

• Lyca Health in Nungambakkam<br />

• Caterpillar in OMR Taramani<br />

Key Precincts<br />

Rental Value<br />

(INR per sq ft<br />

per month)<br />

Capital Value<br />

(INR per sq ft)<br />

Mount Road 60–85 9,000–16,500<br />

RK Salai 65–85 10,000–15,000<br />

Pre-toll OMR 40–70 5,000–6,500<br />

RV<br />

CV<br />

Post-toll OMR 30–40 3,000–6,000<br />

Guindy 45–65 6,500–9,000<br />

RETAIL<br />

Most of the reputed retailers preferred<br />

high streets for expanding their<br />

footprints in Chennai.<br />

Key Precincts<br />

Rental Value<br />

(INR per sq ft<br />

per month)<br />

Capital Value<br />

(INR per sq ft)<br />

Demand<br />

RV<br />

Vacancy<br />

CV<br />

Major transactions:<br />

• Anjappar and Concorde Motors at<br />

OMR<br />

• Shree Mithai at Nungambakkam<br />

T. Nagar 120–180 12,000–15,000<br />

Nungambakkam 130–150 13,000–16,000<br />

Velachery 90–125 10,000–12,000<br />

Pre-toll OMR 80–100 8,000–11,000<br />

Demand<br />

RV<br />

RESIDENTIAL<br />

Launches<br />

CV<br />

Chennai witnessed moderate increase<br />

in number of launches in key micro<br />

markets.<br />

Key launches<br />

• Express Exclusive at Royapettah<br />

• Abhinandan at Perambur Barracks<br />

Road by Landmark Constructions<br />

• Colorberry at Padur by Color<br />

Homes<br />

• TVH Crossway at Karapakkam<br />

Chennai court passed a new order stating that the landlord is entitled to<br />

receive only one month's agreed rent by way of advance and any<br />

amount paid in excess of agreed rent shall be refunded or adjusted<br />

towards rent.<br />

Anna Nagar 120–150 11,000–13,000<br />

LB Road (Adyar) 100–140 10,500–13,500<br />

Key Precincts<br />

Rental Value<br />

(INR per month<br />

for a 1,000 sq ft<br />

2BHK<br />

apartment)<br />

Capital Value<br />

(INR per sq ft)<br />

Adyar 20,000–30,000 18,000–22,000<br />

Medavakkam 11,000–14,000 4,000–6,000<br />

Tambaram 8,000–15,000 4,000–6,000<br />

Anna Nagar 18,000–25,000 10,000–15,000<br />

Porur 7,000–12,000 4,200–6,200<br />

Sholinganallur 9,000–12,000 4,500–6,000<br />

Demand/Vacancy<br />

Rental Value (RV) / Capital Values (CV)<br />

Increasing Moderate Increase Stable Moderate Fall Falling


<strong>Pulse</strong><br />

Monthly Real Estate Monitor<br />

September 2015<br />

Delhi NCR<br />

Back to top<br />

Demand<br />

RV<br />

OFFICE<br />

Vacancy<br />

CV<br />

Demand continued to remain healthy<br />

as occupiers were active in fulfilling<br />

their space requirements. Some<br />

moderate to large space requirements<br />

would become active going forward.<br />

Major transactions:<br />

• Bank of Tokyo & Mitsubishi and<br />

Oracle, both in SBD<br />

• Navig8 Shipping Management in<br />

MG Road-Gurgaon<br />

Key Precincts<br />

Rental Value<br />

(INR per sq ft<br />

per month)<br />

Capital Value<br />

(INR per sq ft)<br />

Barakhamba Road 170–400 28,000–35,000<br />

Jasola 110–170 17,000–21,000<br />

DLF Cybercity 95–100 NA<br />

MG Road 115–140 17,000–19,000<br />

Golf Course Road 90–110 12,500–15,000<br />

Demand<br />

RV<br />

RETAIL<br />

Vacancy<br />

CV<br />

Demand continued to remain weak as<br />

vacancy is low in good-performing<br />

malls.<br />

Major transactions:<br />

• H&M, Hush Puppies, Monisha<br />

Jaising, Creyate and Mothercare,<br />

all in Prime South<br />

• Indian Terrain and Paislei, both in<br />

Ghaziabad-Suburbs<br />

Key Precincts<br />

Rental Value<br />

(INR per sq ft<br />

per month)<br />

Capital Value<br />

(INR per sq ft)<br />

South Delhi 180–330 24,000–32,000<br />

West and North Delhi 140–230 15,000–23,000<br />

Gurgaon–MG Road 140–270 17,500–23,000<br />

Rest of Gurgaon 60–100 8,000–14,000<br />

Demand<br />

RV<br />

RESIDENTIAL<br />

Launches<br />

CV<br />

Sales remained slow as buyers<br />

remained fence-sitters and were taking<br />

time before their buying decisions.<br />

Price discounts and various pricing<br />

techniques were on offer by developers<br />

to push project sales.<br />

New Launches:<br />

• Godrej 101 in Gurgaon<br />

• Panchsheel Premium 24 and<br />

Panchsheel Pebbles in Ghaziabad<br />

• Indo-Chinese JV, Cico-YFC awarded contract for construction of 6.8<br />

km link of Metro from Noida City Centre to Sector-62 in Noida.<br />

• Work on Delhi-Jaipur highway to be completed by March, 2016<br />

• Circle rates enhanced by 5-10% across various categories in Noida<br />

• Lutyens Bungalow Zone in Delhi to be shrunk by 5 sq. km as areas<br />

such as Bengali Market, Jor Bagh, Sundar Nagar, Golf Links to be<br />

taken out of the LBZ regulations<br />

Noida 130–220 14,000–25,000<br />

Ghaziabad 90–150 10,500–16,000<br />

Key Precincts<br />

Rental Value<br />

(INR per month<br />

for a 1,000 sq ft<br />

2BHK<br />

apartment)<br />

Capital Value<br />

(INR per sq ft)<br />

Golf Course Road 27,000–32,000 13,000–19,000<br />

Sohna Road 17,000–20,000 5,800–7,500<br />

Golf Course Extension Road 19,000–22,000 8,500–11,000<br />

Dwarka Expressway NA 5,500–7,500<br />

Noida–Greater Noida<br />

Expressway<br />

13,000–15,000 4,300–6,500<br />

Noida City 12,000–14,500 4,700–6,000<br />

Indirapuram 11,000–12,000 4,500–5,300<br />

Demand/Vacancy<br />

Rental Value (RV) / Capital Values (CV)<br />

Increasing Moderate Increase Stable Moderate Fall Falling


<strong>Pulse</strong><br />

Monthly Real Estate Monitor<br />

September 2015<br />

Hyderabad<br />

Demand<br />

RV<br />

Demand<br />

RV<br />

Demand<br />

RV<br />

OFFICE<br />

Vacancy<br />

CV<br />

RETAIL<br />

Vacancy<br />

CV<br />

RESIDENTIAL<br />

Launches<br />

CV<br />

The city’s western sub market<br />

remained active with most of the<br />

leases. Government policies to draw<br />

investment would soon show results<br />

as there would likely be increased<br />

interest among investors.<br />

Major transactions:<br />

• CDK Global at Hitec City.<br />

• Indeed at Kondapur<br />

Demands remained strong with some<br />

large transactions happening in the<br />

CBD and SBD sub markets. Luxury<br />

brand Zara opened its first store at a<br />

mall in Prime suburb while Cinepolis<br />

expanded in the city with operation of<br />

another 5 screens.<br />

Major transactions:<br />

• Crocodile, Wildcraft and Lenskart<br />

in the High Streets of CBD<br />

Hyderabad Residential sector<br />

witnessed moderate rise in the<br />

demand numbers during the month.<br />

New Launches:<br />

• Jayabheri Temple Tree and<br />

Jaybheri The Peak near Express<br />

Highway - ORR crossing off<br />

Gachibowli.<br />

• INR 25 billion natural gas pipeline is proposed to be developed to<br />

link East and South connecting Paradip in Odisha and Hyderabad in<br />

Telangana.<br />

• The government is soon slated to launch the first phase of T- Hub,<br />

an incubation hub for start-ups to encourage start-up initiatives in the<br />

city.<br />

Key Precincts<br />

Rental Value<br />

(INR per sq ft<br />

per month)<br />

Capital Value<br />

(INR per sq ft)<br />

Begumpet 45–50 5,300–6,500<br />

Banjara Hills 45–55 6,000–8,000<br />

Hitec City 45–53 5,200–6,500<br />

Gachibowli 38–43 5,000–6,000<br />

Uppal 30–38 4,000–5,000<br />

Key Precincts<br />

Rental Value<br />

(INR per sq ft<br />

per month)<br />

Back to top<br />

Capital Value<br />

(INR per sq ft)<br />

Banjara Hills - Jubilee Hills 110–165 11,000–16,500<br />

Secunderabad 110–120 11,000–12,000<br />

Hitec City 110–130 11,000–13,000<br />

Kukatpally 100–110 10,000–11,500<br />

Himayatnagar 150–160 15,000–16,000<br />

Rental Value<br />

Key Precincts<br />

(INR per month<br />

Capital Value<br />

for a 1,000 sq ft<br />

(INR per sq ft)<br />

2BHK<br />

apartment)<br />

Banjara Hills 20,000–25,000 8,500–15,000<br />

Begumpet 14,750–20,000 4,500–5,500<br />

Kondapur 11,500–17,500 3,500–5,700<br />

Gachibowli 10,500–16,000 3,300–5,000<br />

Tellapur 8,000–13,000 2,800–3,700<br />

Kukatpally 9,500–15,000 4,000–5,000<br />

Demand/Vacancy<br />

Rental Value (RV) / Capital Values (CV)<br />

Increasing Moderate Increase Stable Moderate Fall Falling


<strong>Pulse</strong><br />

Monthly Real Estate Monitor<br />

September 2015<br />

Kolkata<br />

Back to top<br />

Demand<br />

RV<br />

OFFICE<br />

Vacancy<br />

CV<br />

Overall demand of the city started<br />

witnessing positive demand traction.<br />

Occupier enquiries increased across<br />

all submarkets other than SBD.<br />

Major transactions:<br />

• Bentley at Rajarhat<br />

Key Precincts<br />

Rental Value<br />

(INR per sq ft<br />

per month)<br />

Capital Value<br />

(INR per sq ft)<br />

Park Street 110–135 13,000–20,000<br />

Topsia 70–90 7,500–10,000<br />

Kasba 75–90 8,000–11,000<br />

Salt Lake Sector V 40–45 4,000–4,800<br />

New Town and Rajarhat 32–36 3,200–4,100<br />

Demand<br />

RV<br />

Demand<br />

RV<br />

RETAIL<br />

Vacancy<br />

CV<br />

RESIDENTIAL<br />

Launches<br />

CV<br />

Transaction activity continued to<br />

increase during August. Acropolis Mall<br />

at Kasba would commence operation<br />

in the coming 1—2 months.<br />

Major transactions:<br />

• Chili’s opened its second outlet<br />

• Airtel opened stores in multiple<br />

locations within city limits.<br />

• Axis Bank opened its outlet in<br />

Prime Others.<br />

Residential demand in the city<br />

continued to be stable in the mid-end<br />

and upper-mid end category. New<br />

Launches:<br />

• Starwood by Aspira Group and<br />

Arch Group near Chinar Park<br />

• Merlin Maximus at Sodepur<br />

In a bid to develop Rajarhat New Town as a green and smart city, the<br />

Housing Infrastructure Development Corporation (HIDCO) will set up two<br />

new utility buildings in the township that will be developed as green<br />

buildings. Once set up, the two buildings will be the first green buildings<br />

developed beforehand with ready built-up space for accommodating<br />

government offices.<br />

Key Precincts<br />

Rental Value<br />

(INR per sq ft<br />

per month)<br />

Capital Value<br />

(INR per sq ft)<br />

Elgin Road 300–350 24,000–28,000<br />

Park Street (high street) 325–375 25,000–31,000<br />

Prince Anwar Shah Road 150–200 15,000–18,000<br />

Salt Lake 185–225 15,000–20,000<br />

New Town and Rajarhat 60–80 6,500–8,000<br />

Gariahat (high street) 200–250 16,000–22,000<br />

Key Precincts<br />

Rental Value<br />

(INR per month<br />

for a 1,000 sq ft<br />

2BHK<br />

apartment)<br />

Capital Value<br />

(INR per sq ft)<br />

Alipore 50,000–70,000 15,000–22,000<br />

Prince Anwar Shah Road 20,000–35,000 7,000–14,000<br />

EM Bypass (Topsia) 15,000–25,000 6,000–10,000<br />

Lake Town 10,000–16,000 4,000–7,500<br />

New Town (AA- I, II & III) 9,000–15,000 3,500–6,000<br />

Rajarhat 7,000–14,000 3,000–4,500<br />

Behala 7,000–14,000 3,000–5,500<br />

Demand/Vacancy<br />

Rental Value (RV) / Capital Values (CV)<br />

Increasing Moderate Increase Stable Moderate Fall Falling


<strong>Pulse</strong><br />

Monthly Real Estate Monitor<br />

September 2015<br />

Mumbai<br />

Back to top<br />

Demand<br />

RV<br />

OFFICE<br />

Vacancy<br />

CV<br />

The month of August witnessed robust<br />

transaction activity in Mumbai office<br />

market. Important to mention, most of<br />

them were lease renewals in the<br />

submarkets such as SBD Central &<br />

Eastern Suburbs. Rents remained<br />

unaltered during the month.<br />

Major transactions:<br />

• MNC IT/ITeS firm renewed at<br />

Eastern Suburbs<br />

Key Precincts<br />

Rental Value<br />

(INR per sq ft<br />

per month)<br />

Capital Value<br />

(INR per sq ft)<br />

Lower Parel 160–200 17,000–22,000<br />

BKC 240–330 26,500–34,000<br />

Andheri - Kurla Road 100–145 10,000–15,500<br />

Goregaon-Malad 85–125 9,000–12,500<br />

Wagle Estate 50–65 5,200–6,900<br />

Demand<br />

RV<br />

Demand<br />

RV<br />

RETAIL<br />

Vacancy<br />

CV<br />

RESIDENTIAL<br />

Launches<br />

CV<br />

With limited space available in quality<br />

malls within Mumbai's city limits, many<br />

brands expressed their interest in<br />

occupying space in existing or<br />

upcoming malls in the far-off suburbs.<br />

Major transactions:<br />

• Anita Dongre in a high street in<br />

Prime South<br />

• Brio hospitality, Lifestyle and<br />

Louis Philippe, all at Suburbs<br />

Mumbai residential market continued<br />

to witness fall in demand on the back<br />

of sluggish market sentiments. New<br />

launches also recorded a fall in the<br />

month of August.<br />

New Launches:<br />

• Lodha Codename August Moon at<br />

Upper Worli<br />

• Arihant Anaika at Taloja<br />

• Avant Heritage at JVLR<br />

The Chief Minister of Maharashtra approved the two new Metro lines, a<br />

16.5-km line from Andheri (East) to Dahisar (East) and an 18.6-km line<br />

from Dahisar to DN Nagar. The Andheri (East) to Dahisar (East) line<br />

would be part of a 27-km Dahisar-Andheri-Bandra (East) Metro, while<br />

the Dahisar-DN Nagar line would be part of the larger 40-km Dahisar-<br />

Charkop-Bandra-Mankhurd Metro.<br />

Key Precincts<br />

Rental Value<br />

(INR per sq ft<br />

per month)<br />

Capital Value<br />

(INR per sq ft)<br />

Lower Parel 260–390 22,000–32,300<br />

Malad 160–250 12,500–20,000<br />

Ghatkopar 130–220 10,100–18,300<br />

Mulund 125–200 9,500–15,500<br />

Thane 100–185 8,000–14,500<br />

Navi Mumbai 75–150 7,000–12,000<br />

Key Precincts<br />

Rental Value<br />

(INR per month<br />

for a 1,000 sq ft<br />

2BHK<br />

apartment)<br />

Capital Value<br />

(INR per sq ft)<br />

Lower Parel 65,000–1,10,000 25,000–40,000<br />

Wadala 36,000–60,000 15,000–23,000<br />

Andheri 32,000–55,000 12,500–21,500<br />

Ghatkopar 30,000–46,000 11,500–17,000<br />

Ghodbunder Road 12,000–25,000 6.000–9,500<br />

Kharghar 10,000–18,000 6,000–9,000<br />

Demand/Vacancy<br />

Rental Value (RV) / Capital Values (CV)<br />

Increasing Moderate Increase Stable Moderate Fall Falling


<strong>Pulse</strong><br />

Monthly Real Estate Monitor<br />

September 2015<br />

Pune<br />

Back to top<br />

Demand<br />

RV<br />

OFFICE<br />

Vacancy<br />

CV<br />

Demand for office space in Pune<br />

remained buoyant with transactions<br />

dominated by IT/ITeS firms. As a<br />

result, vacancy rate witnessed<br />

marginal dip. Western part of the city<br />

and Hinjewadi continued to remain<br />

favourable among occupiers.<br />

Major transactions:<br />

• Tata Technologies in Suburbs<br />

• InfoBeans in SBD<br />

Key Precincts<br />

Rental Value<br />

(INR per sq ft<br />

per month)<br />

Capital Value<br />

(INR per sq ft)<br />

Hadapsar 55–70 6,500–8,000<br />

Kharadi 55–70 6,500–7,500<br />

Hinjewadi 38–48 5,000–7,000<br />

Viman Nagar 55–75 6,500–8,500<br />

SB Road 70–85 7,000–12,000<br />

Demand<br />

RV<br />

RETAIL<br />

Vacancy<br />

CV<br />

Leasing activity in malls remained<br />

sluggish. With no new completions<br />

recorded, Pune’s organised retail<br />

stock remains unchanged. Rents and<br />

capital values remained stable over<br />

the month.<br />

Key Precincts<br />

Rental Value<br />

(INR per sq ft<br />

per month)<br />

Capital Value<br />

(INR per sq ft)<br />

MG Road 100–160 15,000–21,000<br />

Bund Garden Road 90–130 13,000–17,000<br />

FC Road 100–150 15,000–20,000<br />

JM Road 100–150 15,000–20,000<br />

Demand<br />

RV<br />

RESIDENTIAL<br />

Launches<br />

CV<br />

Pune Residential sector witnessed<br />

stable demand during the month.<br />

Projects such as Purvankara<br />

Silversand and Kalapataru Crescendo<br />

were at pre-launch stage.<br />

New launches:<br />

• New tower inside Godrej Prana in<br />

South East submarket<br />

• Marvel Fria II in North East<br />

submarket<br />

No new infrastructure update is available for August.<br />

DP Road 90–130 12,000–16,000<br />

SB Road 80–140 13,000-16,000<br />

Key Precincts<br />

Rental Value<br />

(INR per month<br />

for a 1,000 sq ft<br />

2BHK<br />

apartment)<br />

Capital Value<br />

(INR per sq ft)<br />

Wakad 10,000–13,000 5,000–6,500<br />

Hinjewadi 9,000–11,000 4,800–6,500<br />

Kharadi 11,000–15,000 5,000–7,200<br />

Hadapsar 13,000–18,000 5,500–7,500<br />

Undri 8,000–12,000 4,000–5,500<br />

Pimri-Chinchwad 8,000–15,000 4,500–6,000<br />

Demand/Vacancy<br />

Rental Value (RV) / Capital Values (CV)<br />

Increasing Moderate Increase Stable Moderate Fall Falling


Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients<br />

seeking increased value by owning, occupying and investing in real estate. With annual revenue of $4 billion, JLL operates in 70 countries from<br />

more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property<br />

portfolio of 3.0 billion square feet. Its investment management business, LaSalle Investment Management, has $47.6 billion of real estate<br />

assets under management.<br />

JLL has over 50 years of experience in Asia Pacific, with over 27,500 employees operating in 80 offices in 15 countries across the region. The<br />

firm was named ‘Best Property Consultancy’ in three Asia Pacific countries at the International Property Awards Asia Pacific 2013, and won<br />

nine Asia Pacific Awards in the Euromoney Real Estate Awards 2013.<br />

For further information, please visit our website, www.jll.com<br />

JLL is India’s premier and largest professional services firm specializing in real estate. With an extensive geographic footprint across 11 cities<br />

(Ahmedabad, Delhi, Mumbai, Bangalore, Pune, Chennai, Hyderabad, Kolkata, Kochi, Chandigarh and Coimbatore) and a staff strength of over<br />

6800, the firm provides investors, developers, local corporates and multinational companies with a comprehensive range of services including<br />

research, analytics, consultancy, transactions, project and development services, integrated facility management, property and asset<br />

management, sustainability, industrial, capital markets, residential, hotels, health care, senior living, education and retail advisory.<br />

The firm was named the Best Property Consultancy in India (5 Star Winner) at the International Property Awards – Asia Pacific for 2012-13.<br />

For further information, please visit www.joneslanglasalle.co.in<br />

For more information about our research, contact<br />

Ashutosh Limaye<br />

National Director, Research and REIS<br />

+91 98211 07054 ashutosh.limaye@ap.jll.com<br />

Sujash Bera<br />

Manager, Research<br />

+91 98305 43922 sujash.bera@ap.jll.com<br />

Research Dynamics 2015<br />

<strong>Pulse</strong> reports from JLL are frequent updates on real estate market dynamics.

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