Currently, there is 4.0 million sq ft of operational Grade A office stock and an additional 5.7 million sq ft of new supply scheduled through 2021. As per Colliers Research, occupiers are considering North Bengaluru for expansion and consolidation as infrastructure improves in the area and supply becomes available.
The awards ceremony was held in Bengaluru recently during the 4th edition of Bengaluru Brand Summit & Hot Brands 2019. The Hot 50 brands in Bengaluru acknowledges and honours brands for their outstanding brand marketing.
The report also recommends the best urban locations for technology firms. Bengaluru, Singapore and Shenzhen stand out as top choices for starting or expanding technology operations in Asia. Modest long-run growth prospects hold down developed cities like Tokyo and Taipei for the sector. While emerging cities offer high growth potential and low operating costs, they tend to score lower on employment criteria and human aspirational metrics.
This high-rise luxury project is spread across 2.6 acres with 80% open spaces, offering 250 units with 2, 2.5 and 3 BHK configurations. This comes at the back of their recent launch of a project Sumadhura Eden Garden, spread across 14 acres in Whitefield.
As per the recent Bangalore Development Authority’s (BDA) Revised Master Plan 2031 report, Bengaluru’s 1.18 crore citizens waste 60 crore man hours annually. This translates to INR 3,700 crore, including INR 1350 crore on fuel alone, and the rest on productivity (man hour) loss.
The data analysis reveals that about 26 million sq ft of Grade A office buildings are under various stages of construction in the city which will completed by 2020. Most of this upcoming supply is concentrated in Outer Ring Road (ORR), which is a major commercial hub in Bengaluru.
Despite delayed implication of demonetisation and recent layoffs by technology companies, due to automation and changing technology, commercial market continued to remain resilient, backed by sustained expansion plans of the major occupiers. The Gross office take-up in India amounted to 9.6 mn sq ft (882,800 sq m) in Q2 2017 representing a nominal 2% increase Q-o-Q from 9.3 mn sq ft (Total office absorption in H1 2017 stands at ~18.9 mn sq ft, as per Colliers Research marginally down by 2% from, H1 2016)
Godrej Properties has entered into a new deal to develop a residential project at Whitefield, in Bengaluru. The proposed project will offer approximately 79,000 square metres (0.85 million sq. ft.) of saleable area and will be developed as a modern residential development.
Track2Realty: Bangalore has consistently remained the preferred destination for corporate real estate occupiers in the country over the last couple of years. More recently though, our IT City outperformed itself by catapulting into the league of the top performing office markets of the Asia Pacific region during 2014—in the company of Tokyo and Shanghai.
Track2Realty: India’s economic growth accelerated to 5.7 per cent in the April–June quarter, a figure that is much better than the 4.7 per cent in the same quarter of the previous fiscal year. According to various international agencies like International Monetary Fund (IMF), Asian Development Bank and Moody, 2014 is expected to record an economic growth of 5.2% to 5.6% in 2014.