Category: Commercial

Stay updated with the latest developments in commercial real estate. Our coverage includes market trends, leasing activity, office space demand, retail property updates, and major commercial deals. Whether you’re an investor, developer, or tenant, get expert insights and news on the evolving commercial property landscape.

CommercialLatest Stories

Office Vacancy Drops to 13.85% in Q1 2026: Report

Representative AI image NEW DELHI: According to a report by Cushman & Wakefield, India’s office market vacancy rate has dropped to 13.85% in the January-March quarter of 2026, falling below 14% for the first time since the pandemic. This decline is attributed to robust demand from occupiers and limited new supply. Vacancy levels decreased by 48 basis points quarter-on-quarter and 191 basis points year-on-year, marking the eleventh consecutive quarter of decline. The reduction in vacancy was largely due to consistent leasing across various sectors and a decline in new completions, which fell to 8.8 million sq ft in Q1 2026,…

CommercialLatest Stories

Mindspace REIT Buys 51% of ITPC – Radial Road for ₹3,000 Cr

NEW DELHI: Mindspace Business Parks REIT (Mindspace REIT) has secured a 51% ownership stake in the 2.6 million sq ft International Tech Park Chennai, Radial Road (ITPC – Radial Road) from AIGP2 Chennai 1, a subsidiary of CapitaLand India Growth Fund 2 (CIGF2), for ₹3,000 crore. The remaining 49% stake will be held by 360 ONE Asset’s real assets funds. This acquisition is expected to contribute ₹241 crore to net operating income (NOI) on a proforma basis (51% attributable to Mindspace REIT), while increasing the loan-to-value (LTV) ratio from 28.0% to 30.3%. Regarding the acquisition, Ramesh Nair, MD and CEO…

CommercialLatest Stories

India Office Leasing Up 10% to 21.6M Sq Ft in Q1 2026

NEW DELHI: India’s office market achieved a gross absorption of 21.6 million sq ft across six major cities in the January-March quarter of 2026, reflecting a 10% year-on-year increase, as reported by Savills India. This growth comes against a backdrop of global economic uncertainties. The quarter also saw a 28% year-on-year decline in new supply, totaling 7.9 million sq ft, which contributed to a decrease in overall vacancy rates to 13.9% amid consistent leasing activity. The robust beginning of the year positions the total office demand for 2026 at an estimated 75 million sq ft, while supply is anticipated to…

CommercialLatest Stories

Engineer flags commercial use of homes in Guwahati

GUWAHATI: Guwahati Municipal Corporation (GMC) mayor Mrigen Sarania stated on Sunday that there are buildings in some areas of the city where the ground floors are utilized for commercial activities while the upper floors serve as residences. This comes as the city awaits more clarity on a Supreme Court order issued on March 25. The Supreme Court has instructed municipal corporations across all states and Union Territories to carry out an inquiry to identify areas designated solely for residential use that are being misappropriated for commercial purposes. Sarania noted that within GMC’s jurisdiction, certain buildings possess both residential and commercial…

CommercialLatest Stories

Bombay HC Orders MMRDA to Refund ₹646 Crore to Reliance

MUMBAI: The Bombay High Court has ordered the Mumbai Metropolitan Region Development Authority (MMRDA) to refund ₹646 crore imposed on Reliance Industries Limited (RIL) as a penalty for an alleged seven-year delay in completing a convention and exhibition centre and commercial complex in Bandra Kurla Complex (BKC). The court invalidated two penalty demand notices from MMRDA—one from 2017 for ₹646 crore and another from 2019 for ₹1,116 crore, with the latter being stayed by the court in 2020. The High Court criticized MMRDA for collecting ₹646 crore from RIL in February 2019 in a manner deemed “arbitrary, high-handed, unfair, and…

CommercialLatest Stories

TCS Secures 20-Acre Site in Kolkata’s New Town on 99-Year Lease

MUMBAI: Tata Consultancy Services (TCS) has acquired a 20-acre land parcel in the Bengal Silicon Valley Tech Hub at New Town, Kolkata, for Rs 94 crore through a long-term lease spanning over 99 years. The West Bengal Housing Infrastructure Development Corporation (WBHIDCO), the government agency overseeing the development of New Town as a tech and urban hub, has allocated this land to TCS. The plot allocation took place on March 22, 2023, and the transaction agreement was signed on January 9, 2026, according to documents obtained from Propstack, a realty data analytics firm. This land has been leased to TCS…

CommercialLatest Stories

Ranchi Civic Body Takes Aim at Illegal Businesses in Homes

RANCHI: The Ranchi Municipal Corporation (RMC) has launched a city-wide initiative to address the illegal operation of commercial establishments within residential properties in Jharkhand State Housing Board (JSHB) colonies. This includes door-to-door surveys and the cancellation of trade licenses, following directives related to Supreme Court land use regulations. Eight enforcement teams have been assigned to inspect areas such as Harmu, Bariatu, and Argora, where significant illegal commercial activities have been reported, despite land allotment norms favoring residential use. Officials confirmed that this enforcement drive commenced this week and will be executed in phases. Deputy Municipal Commissioner Gautam Prasad Sahu stated,…

CommercialLatest Stories

Embassy REIT Greenlights ₹1,100 Crore Commercial Paper Plan

Representative AI image NEW DELHI: Embassy Office Parks REIT (Embassy REIT) has authorized the issuance of commercial papers amounting to ₹1,100 crore in two tranches aimed at refinancing existing debts and fulfilling working capital needs, as revealed in a regulatory filing. The Debenture Committee of Embassy Office Parks Management Services, the manager of Embassy REIT, gave the green light to the issuance on April 7, 2026. The fundraising will occur in two parts: ₹650 crore with a duration of 347 days and ₹450 crore with a duration of 342 days. This issuance is a component of the REIT’s previously sanctioned…

CommercialLatest Stories

Indore Gives 100 Buildings 48-Hour Fire Safety Ultimatum

INDIORE: The Indore Municipal Corporation (IMC) and district administration are stepping up their efforts against fire safety violations, placing around 100 commercial buildings (G+3) under scrutiny. Officials have issued an urgent warning, giving building owners until April 8 to install mandatory fire safety equipment or risk immediate sealing and further legal actions. This initiative follows an extensive survey conducted by building officers and inspectors in high-traffic areas throughout all zones. Out of 337 inspected buildings, the survey uncovered significant deficiencies: 87 buildings lacked any fire safety equipment, while 19 had installed systems that were non-functional. A total of 67 notices…

CommercialLatest Stories

Aristo Pharma Acquires ₹111 Crore Office in Andheri West

Mumbai: Aristo Pharmaceuticals has acquired office space spanning two floors in a commercial tower located in Andheri West, a western suburb of Mumbai, for over Rs 111.26 crore, marking one of the significant office transactions this year. The pharmaceutical company purchased units on the first and second floors of Parinee I from Parinee Realty and an individual seller. The deal was officially registered on March 27. The total carpet area acquired exceeds 18,300 sq ft, while the usable area, including loft space, is approximately 28,300 sq ft, according to property registration documents accessed via Propstack. This acquisition represents a carpet…