National Capital Region
- Quarterly leasing almost doubled with Gurgaon continuing to lead leasing activity in the NCR, constituting a share of 61%
- Rents across micro-markets remained stable with the exception of DLF Cyber City.
- Leasing activity occurred mostly in the form of small-medium sized transactions (10,000 - 50,000 sq. ft.)
Mumbai
- Transaction activity was largely stable, as compared to the previous quarter
- Leasing activity in Peripheral markets of Vikhroli, Goregaon, Malad and Airoli accounted for almost 60% of office take up in the city
- Rental and capital values continued to remain stable across most micro-markets
Hyderabad
- Hyderabad, witnessed a steep rise in occupier demand, with absorption more than doubling to cross 6 million sq. ft. during 2016
- More than 80% leasing activity was concentrated in the IT Corridor
- About 2-7% rental increase reported in CBD, IT Corridor and Extended IT Corridor
Bangalore
- Rise in quarterly demand, mainly in ORR, PBD and NBD
- Supply completion also largely concentrated in ORR, PBD and NBD;
- Continued rental escalation across most micro-markets
Chennai
- Strong leasing activity reported in 2016, OMR Zone I and OMR Zone II contributed to over 60% of the leasing activity
- Rentals continued to strengthen across major micro-markets; supply addition restricted to small-sized IT/ non-IT developments
Pune
- Small-to-medium sized transactions drove demand for office space
- Supply completion in the form of small to medium-sized non-IT and SEZ developments
- Rental values grew in the IT and non-IT segments across most micro-markets
Kolkata
- PBD micro-markets of Salt Lake V and Rajarhat continued to lead leasing activity
- Rental values remained stable across all micro-markets
- Supply addition mainly in SBD and PBD