Commercial Leasing

First half of 2024 has witnessed 13 million sq ft of leasing activity, representing a 17 per cent year-over-year growth with Delhi NCR and Chennai leading the charge, says Colliers report

The High Court of Bombay at Goa has ordered a panchayat to stop operations of 175 commercial establishments, including many restaurants and lodges, along the popular Anjuna beach over lack of permissions from various authorities. The division bench of Justices Valmiki Menezes and Mahesh Sonak on Tuesday directed the Anjuna-Caisua panchayat to stop the commercial operations of the structures immediately. The reason for the stoppage of commercial activities through the above 175 structures is that any permissions or clearances from the Town and Country Planning authorities back none of these structures, the Judges said. None of these structures have any completion or occupancy certificate. None of these structures are cleared from the perspective of fire safety, discharge of sewerage, etc, the Bench said. Of these commercial set-ups, the court observed, 45 have some sort of clearance from the Goa Coastal Zone Management Authority (GCZMA). Similarly, about 130 of these 175 structures

Among the sectors, retail leasing was led by fashion and apparel which accounted for around 32 per cent of the total

Furthermore, the efficiency of hydrogen production is low. Most hydrogen is produced from natural gas, which emits large amounts of carbon dioxide

Chennai led the leasing activity in Q3, accounting for 30% share among India's top five cities

Net leasing of office space across seven major cities fell 6.5 per cent to 7.95 million square feet during the April-June period, mainly on lower demand in Bengaluru amid global economic uncertainties, according to JLL India. Net leasing of office space stood at 8.5 million square feet in the year-ago period (April-June 2022), real estate consultant JLL India had said in July last year. Net absorption/leasing is calculated as the new floor space occupied less floor space vacated. Floor space that is pre-committed is not considered to be absorbed until it is physically occupied. As per the data, the net leasing of office space in Bengaluru declined 55 per cent to 1.87 million square feet in April-June from 4.12 million square feet a year ago. Mumbai saw a dip of 26 per cent to 0.98 million square feet from 1.33 million square feet. In Chennai, the net leasing jumped to 1.76 million square feet from 0.53 million square feet. Net absorption of office space grew marginally in Delhi-N

Union Minister Krishan Pal Gurjar on Monday urged the industry to adopt advanced technologies for their operations in order to compete at the global level. The Minister of State (MoS) for Power was speaking at the inauguration of 'Advance Industrial Technology Demonstration Centre' at National Power Training Institute (NPTI) at Badarpur here. "Advance technology is a must for the growth of the country. Today, if we have to compete with the world, we will have to adopt advanced technologies," Gurjar, who is also the MoS for Heavy Industries, said. Reduced consumption of energy will bring the production cost of various industries and help them to compete in the market, he said. NPTI Director General (DG) Tripta Thakur said industries like iron and steel, cement, pulp & paper, and textile together contribute around 30 per cent to the total commercial energy consumption in India. "The institute under the guidance of the Ministry of Power will educate on best practices and technologies

Delhi-NCR led the absorption with 7.3 million sq ft, followed by Mumbai and Bengaluro with 6.1 million sq ft and 5.2 million sq ft, respectively

Delhi-NCR and Pune together accounted for about 70 per cent of the leasing and 60 per cent of total supply

Gross leasing of industrial and warehousing space rose 11 per cent across five major cities to 6.2 million square feet during January-March period

Leasing of industrial and logistics spaces recorded about 13 per cent to 14 million square feet during the January-June 2021 period in eight major cities, on better demand, according to property consultant CBRE. In its latest report, India Industrial and Logistics Market Monitor for H1, CBRE South Asia said that new supply increased five per cent to 11 million square feet (sqft) in the January-June 2021 period compared to the second half of the calendar year 2020. "Leasing activity touched 14 million sq ft in H1 2021 (January-June), a half-yearly growth of more than 13 per cent," the report said. Delhi-NCR and Bengaluru dominated leasing activities and accounted for about 50 per cent of the space absorption in H1 2021. Medium- to large-sized deals (more than 50,000 sq ft) dominated leasing with a share of about 62 per cent during H1 2021, it added. Third-party logistics (3PL) and e-commerce & retail players were major demand drivers. On new supply, Chennai accounted for about ...

Net leasing of commercial office space across the country will grow 12-18 per cent to 25-30 million square feet (msf) next fiscal, a CRISIL analysis showed

India's leased manufacturing space absorption was at 6.6 mn sq ft in 2020. Chennai, Pune and Delhi NCR topped with three-fourths of leased manufacturing space deals in 2020

Momentum in the leasing activity was primarily driven by demand from large technology companies, co-working, financial services and global in-house data centres