negative absorption in the first three quarters of ’09 scored the CBD market microwave absorption of 5352 square meters in the last quarter is now time for the residents in current leases at low rents lock in the market business district of choice where future supply is relatively full is.

Micro-CBD market recorded net absorption of 5352 square meters in the fourth quarter of 2009 compared to the negative absorption in the first three quarters. The exodus of residents stopped on profitable suburbs mainly because of the price correction as the market Update -. By 4Q09

Jones Lang LaSalle Meghraj Research

Significant correction led Rental Transaction activity in the major GDS (mainly Jasola). Gurgaon is also recorded many leasing IT and business this quarter, many of whom offered. Rents in the NCR also written down to its lowest level in the past two years, also encouraged the company to lock in rents in existing leases. This led to a slight increase in the level of net absorption in the NCR conducted over the previous quarter.

Non-IT tenants, especially in banking, financial services, telecommunications and manufacturing sectors continue to be active. Some IT-tenants such as Wipro and Ericsson also blocked in the existing leases at attractive rents. The CBD was not new sources of supply in the fourth quarter of ’09 saw renovated with the exception of 5203 m² (56,000 m²) of space in Connaught Place. Meanwhile, the ECD has the completion of the IT park with DMRC builtup corner of 330 000 square feet (30,658 m²) in East Delhi, only to the Royal Bank of Scotland (RBS) seen leased.

The commercial office park in the entire SMD 4.7 million square feet (437,388 m²). Because of the significant leasing activity, the vacancy rate in the GDS of 24 percent in the third quarter by 21 percent in Q4.

Asset Performance: In the 4th Quarter, the decline in rents in most markets slow, with rent of Grade A office space in the CBD decreased by an average of 2.7 percent over the previous quarter of Rs 200-230 per square meter per month. Rents in MDS has also softened somewhat this quarter, seeing a correction from an average of 6.7 percent in the quarter quarter to Rs 140 per sqm per month. The softening of rents in the inner city and the SBD was mainly caused by the exodus of residents in the cost

Gurgaon.perspectives

12 months: The decline of rental softens and opens the way stability leasing in 2010 . However, the report said the risk of short-term correction in the first half of the year is 2010, that the owners are to win a competition for the incoming request. There is also a good time for the occupants in rental agreements in force barrier at low rents in the market for the privileged city, in the future provide relatively full. However, an over-supply in the poor suburbs of pre-commitment is expected to continue to aggravate the vacancy rate in the region and the pressure on rents and sales prices.

Courtesy: – HT DT: – 6 February 2010

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