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

Nestlé to Establish GCC Operations in Hyderabad

Representative AI image NEW DELHI: Nestlé Business Solutions (NBS), the shared services division of Nestlé Group, is set to establish a global capability centre (GCC) in Hyderabad, as per the company’s announcement. The centre will operate under Nestlé Business Services India in collaboration with Genpact. The Hyderabad GCC aims to bolster Nestlé’s global business services network by providing diverse services across various regions. It will integrate domain knowledge, process intelligence, data handling, artificial intelligence, automation, and digital operations capabilities. Luca Fichera, the head of the company, noted that Hyderabad was chosen for its robust technology ecosystem, infrastructure, and status as…

CommercialLatest Stories

India Office Leasing Reaches 24.6M Sq Ft in Q2 2026

Representative AI image NEW DELHI: According to a report by CBRE South Asia, India’s office market reported gross leasing of approximately 24.6 million sq ft in Q2 2026, while new completions for the quarter reached around 21 million sq ft. The report indicates that total office absorption rose by 18% quarter-on-quarter and 14% year-on-year in Q2 2026, with supply increasing 91% sequentially and 18% year-on-year. In the first half of 2026, office absorption totaled roughly 45.5 million sq ft, while supply was about 32 million sq ft. In Q2 2026, flexible space operators emerged as the leading occupier segment, representing…

CommercialLatest Stories

Six New Co-Working Spaces for CM’s Office Coming to Chennai

CHENNAI: Six co-working spaces, established by the previous DMK government in North Chennai, are set to open to the public soon. The Greater Chennai Corporation (GCC) has issued tenders to outsource housekeeping for a year while retaining technical and administrative oversight. The new facilities will be located in Purasaiwalkam, Periyar Nagar, Otteri, Pulianthope, Thiru-Vi-Ka Nagar, and Kolathur. These centers, constructed before the elections, have been awaiting inauguration. Each facility will employ two sweepers, two receptionists, and two security guards. While housekeeping operations will be outsourced, the civic body will manage data operations, IT infrastructure, and electrical maintenance. Additionally, GCC has…

CommercialLatest Stories

Ludhiana: LIT Cuts Reserve Price to ₹182 Crore for Auction

LUDHIANA: The Ludhiana Improvement Trust (LIT) has introduced a new e-auction for its prime multi-storey commercial building located on Rani Jhansi Road, reducing the reserve price by ₹15 crore to attract potential buyers after several unsuccessful attempts. The updated reserve price is ₹182 crore, down from the ₹197 crore set during the failed auction in May. The e-auction is already underway and will conclude on July 22, when officials will assess whether the price reduction has garnered interest from bidders. During the initial auction attempt in May, a rate fixation committee led by the deputy commissioner endorsed a reduction in…

CommercialLatest Stories

Arihant Foundations Buys Chennai Land for ₹300 Crore Office Project

NEW DELHI: Arihant Foundations & Housing has acquired a land parcel exceeding half an acre on Anna Salai (Mount Road) in Chennai, intending to develop a Grade-A commercial office project. The project boasts an estimated gross development value of approximately ₹300 crore. The company stated that the upcoming development will meet demand from various sectors, including corporations, global capability centers, IT, financial services, and engineering. This acquisition follows the company’s recent purchase of a comparable land parcel near Boat Club in Chennai. Kamal Lunawath, the managing director of the company, mentioned that this development is part of their strategy to…

CommercialLatest Stories

Four Illegal Commercial Structures Demolished in Ludhiana

Representative Image LUDHIANA: The building branch of the municipal corporation continued its crackdown on unauthorized structures by demolishing four illegal buildings under construction in Zone D on Friday. The enforcement action occurred simultaneously on Barewal Road, Apex Nagar, Model Town-Jawaddi Road, and near Phullanwal Chowk. This demolition drive was executed under the direct orders of Municipal Commissioner Ojasvi Alankar. According to civic officials, the owners had constructed these buildings in clear violation of building regulations. Despite receiving official notices and warnings to cease work, they continued with the illegal constructions, necessitating the municipal body to take demolition action. Post-demolition, officials…

CommercialLatest Stories

Report: National Flex Workspace Brands Could See 25% Price Hike by FY28

NEW DELHI: According to a report by myHQ, national flex workspace brands in India currently have a 19% pricing premium over independent operators, with this gap projected to grow to 25% by FY28. The analysis covered 1,384 coworking centers across 30 cities, utilizing five years of transaction data from over 10,000 companies. National brands such as WeWork, Awfis, Smartworks, 91Springboard, and Innov8 charge a median of ₹8,600 per seat per month from 2021 to 2026, compared to ₹7,200 per seat per month for independent operators in similar areas and quality categories. This results in a ₹1,400 difference per seat per…

CommercialLatest Stories

BSE Introduces REITs and Commercial Real Estate Index for Investors

BSE Index Services, a fully owned subsidiary of BSE, launched the BSE REITs and Commercial Real Estate Index on Wednesday. This new benchmark is crafted to gauge the performance of listed real estate investment trusts (REITs) and firms heavily invested in commercial real estate. The index features companies categorized as REITs, along with firms involved in residential and commercial projects that gain significant income from commercial real estate assets and rentals. The BSE REITs and Commercial Real Estate Index starts with a base value of 1,000, recorded from September 2022. It is set to be reconstituted semi-annually, every March and…

CommercialLatest Stories

Haryana Cities to Evolve for Future Needs: Chief Minister

CHANDIGARH: Haryana Chief Minister Nayab Singh Saini announced on Tuesday plans for the development of cities in the state to meet future needs and streamline essential services, reducing the need for citizens to visit multiple offices for problem resolution. The Chief Minister made these comments during a review meeting at the Haryana Civil Secretariat, focusing on the Urban Local Bodies Department’s five-year roadmap and action plan under Haryana Vision-2047. He assessed the progress of announcements made by the Chief Minister, budget allocations, and commitments stipulated in the government’s manifesto pertaining to the department and instructed officials accordingly. To realize the…

CommercialLatest Stories

Jaipur development body issues final notice to plot allottees

JAIPUR: The Jaipur Development Authority (JDA) has issued notices to commercial plot allottees in the Transport Nagar scheme who have not commenced construction, as stipulated in their allotment letters. These allottees have been granted a three-month period to initiate construction. JDA Commissioner Siddharth Mahajan emphasized that allottees must start building within the allotted timeframe and notify the relevant zonal office. Failure to do so may result in the cancellation of their plot allotment in accordance with the established terms and conditions. Additionally, the commissioner has instructed officials to regularly monitor vacant and unused plots within the Transport Nagar scheme and…