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

West Bengal to Develop Four New IT Parks

KOLKATA: The Bengal government plans to establish four new IT parks, with three located in north Bengal and another in Chinsurah, Hooghly. The Gorkhaland Territorial Administration (GTA) has commenced work on the IT park in Kurseong, while construction in Kalimpong is expected to begin shortly. State IT and Electronics Minister Babul Supriyo stated: “We are significantly focusing on developing IT infrastructure in north Bengal. With all three existing IT parks in Siliguri fully operational and at 100% occupancy, we are motivated to create three additional parks in the region. The GTA is responsible for constructing the IT park in Kurseong,…

CommercialLatest Stories

Incuspaze Acquires Pune’s Trios to Boost Co-Working Space

Incuspaze, a provider of managed office spaces, has acquired the Pune-based co-working firm Trios in a cash-and-stock transaction to enhance its business footprint. The specifics of the deal have not been disclosed. Founded in 2016, Incuspaze currently operates in over 50 locations across 18 cities, with a total portfolio covering 4 million square feet. Trios, established in 2017, runs 12 co-working centers in Pune and Gurugram. In a statement released on Monday, Incuspaze indicated that the acquisition of Trios is a strategic move to meet the increasing demand for flexible workspaces in Pune. “This complete acquisition, executed through a cash-and-stock…

CommercialLatest Stories

Shortage of Grade-A Office Space Hampers Hi-Tech City, Hyderabad

HYDERABAD: Heineken’s decision to establish a global capability center (GCC) in Hyderabad with an investment of nearly Rs 3,000 crore has proven challenging, as securing space in the bustling IT hub of HITEC City has become increasingly difficult. Sources indicate that this trendy area, often compared to San Francisco’s Bay Area, is almost fully leased out in terms of Grade A office space. Notable developments in HITEC City include Sattva Group’s Knowledge Park and Knowledge City, RMZ’s Nexity, Raheja Mindspace, and CapitaLand Park, along with individual projects by Auro Realty and My Home Group. Recently, McDonald’s acquired approximately 200,000 sq…

CommercialLatest Stories

Gachibowli plot sells for ₹33 crore at ₹2.2 lakh/sq yard

HYDERABAD: The real estate market in Hyderabad shows signs of resurgence as the Telangana Housing Board successfully sold a commercial plot for Rs 33 crore and another for Rs 11 crore in Gachibowli. The board held an auction on Monday, offering plots in Gachibowli, Chintal, Nizampet, among others, generating a total revenue of Rs 65 crore. According to Telangana Housing Board (THB) commissioner VP Gautam, one commercial plot spanning 1,487 square yards in Gachibowli was sold at Rs 2.20 lakh per square yard, bringing in Rs 33 crore. The government had initially set an upset price of Rs 1.20 lakh…

CommercialLatest Stories

JP Morgan Signs ₹1,000 Crore Office Lease in Mumbai BKC

In a landmark pre-lease agreement, U.S. financial giant JP Morgan has secured over 116,210 sq ft of office space in Sumitomo’s commercial tower within Mumbai’s Bandra-Kurla Complex (BKC). The deal involves a long-term lease of 10 years. The lease includes an initial 10-year term, with options to renew for up to three additional five-year extensions, potentially extending the total to 25 years. The estimated rental outflow for the first 10 years is close to Rs 1,000 crore, with total payments over the 25-year term anticipated to exceed Rs 2,500 crore, making it one of the most significant long-term commercial leases…

CommercialLatest Stories

Dharavi Redevelopment: India’s Next Prime Business Hub

AI-generated Representative Image The redevelopment project of Dharavi, Asia’s largest slum, is set to introduce a dedicated commercial business district, enhancing both business and employment opportunities amidst one of the most ambitious urban transformations globally. A significant portion of the nearly 600-acre prime land in the heart of Mumbai, India’s financial hub, will be designated for commercial use, aiming to establish a central business district (CBD) that attracts diverse companies. This district is anticipated to feature Grade-A office spaces, premium retail, co-working areas, hotels, and infrastructure support, as per sources involved in the planning. “The commercial area will utilize land…

CommercialLatest Stories

Colliers India Targets ₹1,100 Crore Order Book by 2025

NEW DELHI: Colliers India aims to achieve an order book of ₹1,100 crore by 2025, a significant increase from its revenue of around ₹700 crore last year. The company has reported a strong start to the year, with its leasing division experiencing a growth of 20–25% over 2024. Sankey Prasad, chairman and managing director, expressed in an exclusive interview with ETRealty that the firm is optimistic about India’s commercial real estate sector, noting strong fundamentals and persistent demand amidst global challenges. As part of its global integration strategy, Colliers is setting up a new Global Capability Centre (GCC) in Bengaluru.…

CommercialLatest Stories

Trichy Civic Body Faces ₹121 Crore Deficit from Vacant Spaces

TRICHY: The Trichy City Corporation is facing a significant funding crisis, raising alarms among councillors about the timely implementation of developmental initiatives as the assembly elections approach. Several commercial complexes established under the Smart Cities Mission are either vacant or incomplete, leading to considerable revenue losses for the corporation. There are at least 58 shops in three Corporation-owned complexes that have remained empty for three years, with the potential to generate over 2 crore in annual rental income if fully occupied. For the financial year 2025-26, the corporation anticipates revenues of 579 crore against expenditures of 700 crore, resulting in…

CommercialLatest Stories

IL&FS aims to block Brookfield’s bid for finance center

MUMBAI: Brookfield, a leading global alternative investment firm, is back in the spotlight along with the historic IL&FS building, which has played a significant role in establishing BKC as Mumbai’s financial district. The bankrupt financier that sold the property to a Brookfield-affiliated entity is now seeking to overturn its recent court decision, alleging that the global asset manager did not meet the bid’s requirements and that the bid security has expired. Sources within the finance industry suggest that rising commercial property values in BKC have rendered Brookfield’s original offer for the IL&FS Centre—formerly occupied by HDFC—less appealing, as highlighted in…