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

Raheja Universal Repurchases HQ for ₹211 Crore

Sure! Here’s a rewritten version of the provided content: Representative AI image Realty developer Raheja Universal has reacquired its corporate headquarters, Raheja Centre-Point, located on CST Road near Mumbai’s Bandra-Kurla Complex, for Rs 211 crore. Initially developed by Raheja Universal in 2004, the five-storey commercial building served as their headquarters for 16 years before being sold to HDFC in 2020, which has since merged with HDFC Bank. This sale was part of a broader portfolio realignment strategy. The property has now returned to Raheja Universal following a successful bid during a sale process initiated by HDFC Bank. The latest agreement…

CommercialLatest Stories

Government Approves 300-Acre Phase III Campus for Infopark

KOCHI: In a significant boost for Kochi’s IT sector, the state government has given in-principle approval for the establishment of the Infopark Phase III campus, which will span over 300 acres in the Kunnathunadu taluk. The proposal for the third campus was made by Infopark, as the first two phases are currently operating at full capacity. Discussions for land pooling driven by the Greater Cochin Development Authority (GCDA) were initiated; however, progress was hampered due to awaiting necessary clearances from the IT department. According to an order from the Electronics and Information Technology Department, “in-principle approval has been granted to…

CommercialLatest Stories

BlackRock Signs 1.43 Lakh Sq. Ft. Office Lease with IndiQube

BlackRock Services India, the local branch of the world’s largest asset manager, has secured a new office lease for approximately 143,000 square feet at IndiQube Symphony on MG Road in Bangalore’s central business district (CBD). The 10-year lease agreement has a total rental commitment of Rs 410 crore, ranking it among the largest enterprise flexible space transactions in recent months. The lease, which was registered earlier this month, will take effect on October 1, 2025. BlackRock will pay a monthly rent of Rs 2.72 crore at Rs 190 per square foot, supported by a security deposit of Rs 21.75 crore.…

CommercialLatest Stories

Commercial Use of Properties on 42 Roads Allowed in Prayagraj

PRAYAGRAJ: In a significant policy change, property owners along 42 major roads in Prayagraj can now utilize their buildings for commercial activities. This includes well-known streets such as Mahatma Gandhi Marg, Sardar Patel Marg, Katju Marg, and Tashkent Marg, as outlined in the city’s Master Plan 2031. Previously, commercial activities along these roads were restricted. Under the former Master Plan 2021, only 29 roads were designated as market streets. The updated plan expands this list, adding several key roads, including Tashkent Marg and Lal Bahadur Shastri Marg. Officials anticipate that this decision will foster commercial development and create new job…

CommercialLatest Stories

Andhra Pradesh Forms Council to Attract GCCs

VIJAYAWADA: The Andhra Pradesh government has taken significant steps to establish the state as a prominent hub for Global Capability Centres (GCCs) by forming a comprehensive GCC advisory council. This initiative gathers CXOs from global companies, influential industry bodies like NASSCOM, business councils, consulting experts, real estate developers, and renowned academic institutions. The aim is to invigorate GCC investments and elevate AP’s status as a leader in the digital economy. IT, electronics, and HRD minister Nara Lokesh will lead the advisory council. GCCs serve as strategic units for multinational corporations, handling functions such as R&D, IT, finance, procurement, and customer…

CommercialLatest Stories

Amazon Leases 220,000 Sq Ft Office in Chennai

BENGALURU: Amazon Development Centre India has secured a lease of 220,000 sq ft from WeWork in Chennai, marking the largest single office transaction in the city this year. The 40-month lease aims to accommodate over 3,500 work units. This deal underscores Amazon’s expanding footprint in southern India and the rising demand for flexible office spaces among corporations seeking scalable work environments in India’s top markets. “Amazon’s move to sign the biggest office deal in Chennai in the first half of 2025 reflects its confidence in the city’s talent pool and infrastructure,” stated a senior industry executive familiar with the transaction.…

CommercialLatest Stories

NBCC Partners with NMRDA to Develop Naveen Nagpur

NEW DELHI: NBCC (India) has entered into a memorandum of understanding (MoU) with the Nagpur Metropolitan Region Development Authority (NMRDA) to develop Naveen Nagpur, envisioned as the International Business & Finance Center (IBFC) in the metropolitan area. Naveen Nagpur will encompass approximately 1,710 acres (692 hectares), with the business district occupying about 1,000 acres and leaving 710 acres for future growth. The initiative aims to establish commercial facilities for startups, MSMEs, IT firms, and offices, alongside residential and mixed-use projects. NBCC has been designated as the project management consultant for the 1,000 acres earmarked for the business district. The execution…

CommercialLatest Stories

日本企業、インドでGCCを狙う

AI-generated image (representative) HYDERABAD: Although Japanese companies have joined the global capability centre (GCC) scene in India later than others, the ‘silver tsunami’ in Japan is driving an influx of these firms to India. With approximately 30% of its population aged 65 and older, Japan faces a rapidly shrinking workforce while dealing with modernisation challenges. This situation has propelled Japanese companies to seek out India’s young and talented tech workforce, alongside its robust engineering capabilities and growing innovation ecosystem. As reported by Joules2Watts Business Solutions, India is now home to around 85 Japanese GCCs employing over 180,000 people, a number…

CommercialLatest Stories

Mumbai: Wadala CBD Auction Soon as BKC Saturates

Representative AI image MUMBAI: With the land bank in BKC now fully sold, the MMRDA is set to initiate the auction of plots in Wadala, the city’s upcoming third central business district (CBD), spanning 156 hectares. MMRDA Commissioner Sanjay Mukherjee informed TOI that the auction process will kick off within the next two months. “Wadala’s development has been incorporated into the economic master plan jointly created by Niti Aayog and MMRDA. MMRDA is proceeding with the development of Wadala, expected to commence in the next two to three months,” he stated. To sustain the upward trend in real estate prices,…

CommercialLatest Stories

Goa: GIDC Plans to Double FAR for Verna IT Park Expansion

PANAJI: The Goa Industrial Development Corporation (GIDC) is set to increase the permissible floor area ratio (FAR) from 150 to 300 for its proposed IT Park named ‘Hello World’ at the Verna industrial estate, pending government approval. This ambitious project spans 4 lakh sqm (98 acres) at the end of phase IV of the estate. The GIDC has designated seven plots, each measuring 25,000 sqm, for IT companies, totalling around 3 lakh sqm. The remaining 1 lakh sqm will accommodate a business hotel, hostel, and utility services. The decision was made during the 398th board meeting of GIDC on Thursday,…