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In Delhi & Gurgaon, both rental and capital values for commercial property have been on an upswing. The demand situation is strong with almost all grade A buildings occupied and those under construction already leased. While demand for commercial space in
Delhi is high, supply is limited since the supply of commercial land depends on auctions by DDA which are held infrequently.  

Commercial property is becoming a real alternative to investment in residential real estate. In addition to capital appreciation, commercial property offers higher rental yields of typically 8-10% compared to residential yields of 4-5%. 

In

and south
Delhi is one of rising rentals and near-zero vacancy In CP monthly rental rates range from Rs 100 to Rs 150 per sq ft while vacancy level is less than 5 per cent.  

Office space is being developed in the city in areas such as Saket & Jasola by developers such as DLF, Unitech, and others. In Saket capital prices which were around Rs 5,000 per sq ft a year ago have now touched Rs 13,000. In Jasola only six months ago the price was Rs 4,500-5,000; today it is Rs 12,000 per sq ft and above. In Saketr rentals start from Rs 110 per sq ft. In Jasola, rates could touch Rs 150 per sq ft by end of the year.  

Meanwhile Gurgaon continues to be an attractive destination for office space development driven by availability of large floor spaces, lower rentals than the city, proximity to the airport and a residential infrastructure for staff needs. Of the total 6.37 million sq ft space that will be absorbed in the NCR in 2006, Gurgaon will account for 4.16 million (65 per cent).  

Within

DLF
Cyber
City rentals are Rs 35 per sq ft, up from Rs 30 per sq ft last year. On

, the rental rate has risen to over Rs 70 per sq ft. On

, the rental rate is Rs 45 per sq ft.  

Noida is emerging as an IT-ITES hub with several campus style developments including Adobe, Cadence and Wipro. Rentals here range from Rs 35-40 per sq ft. In Noida, developers mostly develop built-to-suit (BTS) spaces for corporates. (Expressestates.in)  

Courtesy :  INRnews Correspondent Dated:  16/08/07

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