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<strong>Pulse</strong> Monthly Real Estate Monitor September 2015 Mumbai Back to top Demand RV OFFICE Vacancy CV The month of August witnessed robust transaction activity in Mumbai office market. Important to mention, most of them were lease renewals in the submarkets such as SBD Central & Eastern Suburbs. Rents remained unaltered during the month. Major transactions: • MNC IT/ITeS firm renewed at Eastern Suburbs Key Precincts Rental Value (INR per sq ft per month) Capital Value (INR per sq ft) Lower Parel 160–200 17,000–22,000 BKC 240–330 26,500–34,000 Andheri - Kurla Road 100–145 10,000–15,500 Goregaon-Malad 85–125 9,000–12,500 Wagle Estate 50–65 5,200–6,900 Demand RV Demand RV RETAIL Vacancy CV RESIDENTIAL Launches CV With limited space available in quality malls within Mumbai's city limits, many brands expressed their interest in occupying space in existing or upcoming malls in the far-off suburbs. Major transactions: • Anita Dongre in a high street in Prime South • Brio hospitality, Lifestyle and Louis Philippe, all at Suburbs Mumbai residential market continued to witness fall in demand on the back of sluggish market sentiments. New launches also recorded a fall in the month of August. New Launches: • Lodha Codename August Moon at Upper Worli • Arihant Anaika at Taloja • Avant Heritage at JVLR The Chief Minister of Maharashtra approved the two new Metro lines, a 16.5-km line from Andheri (East) to Dahisar (East) and an 18.6-km line from Dahisar to DN Nagar. The Andheri (East) to Dahisar (East) line would be part of a 27-km Dahisar-Andheri-Bandra (East) Metro, while the Dahisar-DN Nagar line would be part of the larger 40-km Dahisar- Charkop-Bandra-Mankhurd Metro. Key Precincts Rental Value (INR per sq ft per month) Capital Value (INR per sq ft) Lower Parel 260–390 22,000–32,300 Malad 160–250 12,500–20,000 Ghatkopar 130–220 10,100–18,300 Mulund 125–200 9,500–15,500 Thane 100–185 8,000–14,500 Navi Mumbai 75–150 7,000–12,000 Key Precincts Rental Value (INR per month for a 1,000 sq ft 2BHK apartment) Capital Value (INR per sq ft) Lower Parel 65,000–1,10,000 25,000–40,000 Wadala 36,000–60,000 15,000–23,000 Andheri 32,000–55,000 12,500–21,500 Ghatkopar 30,000–46,000 11,500–17,000 Ghodbunder Road 12,000–25,000 6.000–9,500 Kharghar 10,000–18,000 6,000–9,000 Demand/Vacancy Rental Value (RV) / Capital Values (CV) Increasing Moderate Increase Stable Moderate Fall Falling
<strong>Pulse</strong> Monthly Real Estate Monitor September 2015 Pune Back to top Demand RV OFFICE Vacancy CV Demand for office space in Pune remained buoyant with transactions dominated by IT/ITeS firms. As a result, vacancy rate witnessed marginal dip. Western part of the city and Hinjewadi continued to remain favourable among occupiers. Major transactions: • Tata Technologies in Suburbs • InfoBeans in SBD Key Precincts Rental Value (INR per sq ft per month) Capital Value (INR per sq ft) Hadapsar 55–70 6,500–8,000 Kharadi 55–70 6,500–7,500 Hinjewadi 38–48 5,000–7,000 Viman Nagar 55–75 6,500–8,500 SB Road 70–85 7,000–12,000 Demand RV RETAIL Vacancy CV Leasing activity in malls remained sluggish. With no new completions recorded, Pune’s organised retail stock remains unchanged. Rents and capital values remained stable over the month. Key Precincts Rental Value (INR per sq ft per month) Capital Value (INR per sq ft) MG Road 100–160 15,000–21,000 Bund Garden Road 90–130 13,000–17,000 FC Road 100–150 15,000–20,000 JM Road 100–150 15,000–20,000 Demand RV RESIDENTIAL Launches CV Pune Residential sector witnessed stable demand during the month. Projects such as Purvankara Silversand and Kalapataru Crescendo were at pre-launch stage. New launches: • New tower inside Godrej Prana in South East submarket • Marvel Fria II in North East submarket No new infrastructure update is available for August. DP Road 90–130 12,000–16,000 SB Road 80–140 13,000-16,000 Key Precincts Rental Value (INR per month for a 1,000 sq ft 2BHK apartment) Capital Value (INR per sq ft) Wakad 10,000–13,000 5,000–6,500 Hinjewadi 9,000–11,000 4,800–6,500 Kharadi 11,000–15,000 5,000–7,200 Hadapsar 13,000–18,000 5,500–7,500 Undri 8,000–12,000 4,000–5,500 Pimri-Chinchwad 8,000–15,000 4,500–6,000 Demand/Vacancy Rental Value (RV) / Capital Values (CV) Increasing Moderate Increase Stable Moderate Fall Falling
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