Mumbai and Delhi are expected to add significant office supply over the next six quarters, and we have started seeing increasing signs of delayed construction. The next two quarters will decide if the supply side can appropriately accommodate the demand slowdown.
Your commercial real estate queries answered by Anuj Puri, Chairman & Country Head, Jones Lang LaSalle India
Many tend to look at these super-luxury residential properties as irrational extravagances. However, the ground reality is that the homes of India’s super-rich play their own role in boosting commerce, even as the larger industry remains democratized and oriented to the needs of the masses.
Currently, BKC has a total stock of 8 million square feet of office space. An additional supply of 2.5 million square feet is expected in 2012 with the completion of The Capital, FIFC and TCG Finance Centres.
Despite the market slowdown and high competitiveness among the ‘Big Boys’ in the Indian residential real estate business, smaller builders of residential projects can still corner a healthy market share.