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<strong>Pulse</strong> Monthly Real Estate Monitor September 2015 Commercial Real Estate up across Major Cities Average transacted office lease sizes across Mumbai, Bangalore, Chennai and Pune have increased from the uncertain times seen in 1Q14 – prior to the general elections. Following elections in May 2014, however, market sentiment improved gradually, while Mumbai, for example, witnessed 65% appreciation in average deal sizes between 2Q14 and 2Q15. Next India’s economy, defying weakness in developed countries and elsewhere in emerging Asia, expanded 7% in the April— June quarter, making it one of the world’s fastest-growing as China downshifts. Asia’s third-largest economy also continued to distinguish itself by being fuelled not by investments or exports but by consumer spending, which grew 7.4% y-o-y. Indians are still opening their pocketbooks despite a withering of demand in other large economies, which has sapped trade and production growth around the globe. Investment sentiments improving A sea-facing triplex penthouse of 17,000 sq. ft. carpet area in South Mumbai's Napean Sea Road locality is being sold for INR 2 billion, the biggest for a residential apartment in India The number of transactions has also increased considerably across all these cities. Pune leads with an impressive 89% y-o-y growth in transacted space per lease deal, followed by Bangalore at 78% and Chennai at 67%. Good days are returning for office real estate and tenants will remain in an expansionary mode. Occupiers are not only leasing larger office space, but they also expect all the space to be on the same floor. Developers are constructing bigger floor plates to meet the evolving demand. Ashutosh Limaye, National Director- Research, JLL India -------------------------------------------------------------------------------------------- For further reading please refer to following link: http://www.joneslanglasalleblog.com/realestatecompass/real-estate/2015/08/commercialreal-estate-residential-major-indian-cities/// The Centre named 98 cities for the Narendra Modi government's flagship Smart Cities project, with Uttar Pradesh bagging the most in August. To develop Rajarhat-New Town as a green and smart city, the Housing Infrastructure Development Corporation (HIDCO) will set up two new utility buildings in the township that will be developed as green buildings Legend: Market Sentiment Favourable Neutral Unfavourable
Cities Office Rental Value Retail Rental Value Residential Capital values AHMEDABAD DELHI MUMBAI DELHI PUNE BANGALORE AHMEDABAD KOLKATA CHENNAI MUMBAI PUNE HYDERABAD HYDERABAD KOLKATA Legend Growing Stabilise Stagnate Falling BANGALORE CHENNAI Back to top For more information about our research, contact Ashutosh Limaye National Director, Research and REIS +91 98211 07054 ashutosh.limaye@ap.jll.com Sujash Bera Manager, Research +91 98305 43922 sujash.bera@ap.jll.com Research Dynamics 2015 <strong>Pulse</strong> reports from JLL are frequent updates on real estate market dynamics. www.joneslanglasalle.co.in
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