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

UP Mandates 3-Year Electrical Safety Checks for Commercial Buildings

LUCKNOW: Nearly two years prior to a devastating fire in Aliganj that claimed 15 lives, the Uttar Pradesh government had issued comprehensive directives for regular electrical safety inspections and renewal of safety clearances for commercial entities to mitigate fire and electrical hazards. The directive, issued on November 9, 2023, by the then Additional Chief Secretary (Energy), Mahesh Kumar Gupta, followed a fire that occurred on September 5, 2022, at the Levana Suites hotel in Hazratganj, resulting in four fatalities. Referencing a government notification from May 6, 1994, Gupta emphasized that inspections and testing of all high-voltage, extra-high-voltage, and medium-voltage electrical…

CommercialLatest Stories

India Office Leasing Jumps 6% to 35.7M sq ft in H1 2026

NEW DELHI: In the first half of 2026, India’s office market achieved 35.7 million sq ft of gross leasing across the top seven cities, reflecting a 6% increase year-on-year, as reported by Colliers India. Grade-A office space leasing reached 17.4 million sq ft in Q2 2026, marking a slight 2% decline compared to last year, amid cautious sentiment from occupiers influenced by global trade challenges and economic uncertainty. Bengaluru led office leasing with a significant 10.5 million sq ft in H1 2026, making up 29% of the overall demand. Hyderabad followed with approximately 7.2 million sq ft, showcasing a remarkable…

CommercialLatest Stories

Uttar Pradesh to establish 500 GCC units by 2031: CM

LUCKNOW: Chief Minister Yogi Adityanath has called on global corporations and tech companies to “build the future in Uttar Pradesh”, positioning the state as a potential hub for Global Capability Centres (GCCs), technology investments, and advanced manufacturing. He emphasized Uttar Pradesh’s skilled workforce, improving infrastructure, and investor-friendly policies. While speaking at the Uttar Pradesh Global Growth Dialogue 2026 in Bengaluru, Yogi stated, “The state aims to facilitate 40 million square feet of Grade-A office space and establish 500 GCC units by 2031.” According to Yogi, Uttar Pradesh offers one of the country’s most competitive business environments, backed by over 36…

CommercialLatest Stories

Embassy Developments Signs MoU for ₹1,500 Crore Project in UP

NEW DELHI: Embassy Developments has finalized a non-binding memorandum of understanding (MoU) with the Uttar Pradesh government for a proposed commercial real estate project in Lucknow. The preliminary proposal, signed under the Invest UP initiative, plans for the development of approximately 2.5-3 million sq ft of office-centric commercial real estate, with an estimated investment of around ₹1,500 crore. This development will signify Embassy Developments’ entry into the commercial real estate sector within the state. “Lucknow has the potential to transform into a robust commercial hub for the next phase of India’s office-led growth,” stated Jitendra Virwani, chairman of Embassy Group.…

CommercialLatest Stories

West Bengal CM Suspends Kolkata Projects Until July 31

KOLKATA: On Wednesday, West Bengal Chief Minister Suvendu Adhikari announced a suspension of all under-construction commercial projects approved by the previous TMC government until July 31, following a warehouse collapse that resulted in five fatalities. After visiting the accident site, the chief minister revealed that initial reports indicated significant flaws in the approved building plans for the collapsed warehouse. “I have instructed the Kolkata Municipal Corporation (KMC) commissioner and the Urban Development and Municipal Affairs Department to halt work on all projects approved by the previous regime, especially those that involved filling water bodies. We will conduct an audit of…

CommercialLatest Stories

Nagpur: 103 Unsafe Buildings Host Coaching Classes

NAGPUR: Following a tragic fire in Lucknow that claimed the lives of 15 young individuals, alarming fire safety issues have surfaced in Nagpur. Over a hundred coaching centers have been marked as unsafe, with many at risk of having their electricity and water supply disconnected for non-compliance with mandatory safety norms. This situation is particularly concerning given that approximately 150 students at Bansal Pathshala for IIT-JEE, NEET, and MHT-CET narrowly avoided disaster on May 6 when a fire erupted from an electric meter on the first floor of a two-story commercial building on Mount Road in Sadar. Fortunately, no injuries…

CommercialLatest Stories

Innov8 Acquires Vatika to Grow Managed Workspace Offerings

NEW DELHI: Innov8 has announced its acquisition of Vatika Business Centres for an undisclosed sum. This acquisition will enhance Innov8’s portfolio by adding 11 business centres located in New Delhi, Gurugram, Chennai, Bengaluru, Hyderabad, Noida, and Pune. The integration will incorporate Vatika’s established corporate clientele and managed office services into Innov8’s operations. According to Gaurav Bhalla, managing director at Vatika Hospitality, the new partnership aims to enhance service offerings, promote technological integration, and expand the network of workspaces. Rakesh Kumar, CFO of PRISM and Innov8, stated that the company anticipates the deal will enhance operational efficiencies, improve margins, and boost…

CommercialLatest Stories

Crisil: Commercial Office REITs’ Leasable Area to Rise 25-30% by FY28

NEW DELHI: The leasable area for domestic commercial real estate investment trusts (REITs) is forecasted to grow by 40-45 million sq ft, reaching 190-195 million sq ft by the end of the next fiscal year, as reported by Crisil Ratings. This growth will be fueled by planned additions from existing REITs as well as the recent launch of a new REIT, according to the rating agency. About 16 million sq ft of the projected increase will stem from the newly listed REIT. The agency indicated that inorganic expansion through acquisitions will lead the way for REIT growth, as this mitigates…

CommercialLatest Stories

Accenture Leases 10.16 Lakh Sq Ft Office in Hyderabad for ₹7 Cr+

NEW DELHI: Accenture, a leading IT services and consulting firm, has signed a lease for 10.16 lakh sq ft of office space in Hyderabad for a period of 10 years, with an initial rent exceeding Rs 7 crore per month, as reported by CRE Matrix. According to real estate data analytics firm CRE Matrix, the lease agreement between Aparna IT Hub LLP and Accenture Solutions Pvt Ltd was registered on June 10. Aparna IT Hub has leased a total area of 10,16,912 sq ft (chargeable area) in warm shell condition, across two phases, with a carpet area of approximately 7.57…

CommercialLatest Stories

GCCs Drive Bengaluru Office Market: Focus on Experience-Led Workplaces

BENGALURU: The commercial real estate market in Bengaluru is entering a more advanced stage, driven by factors such as office absorption quality, employee experience, sustainability, and tech-oriented asset management, industry experts noted on Tuesday. The insights were shared during the RealtyDailyNews Realty & Beyond Summit Bengaluru, focusing on the future dynamics of the city’s commercial real estate sector. The panel featured Shirish Godbole, CEO of Knowledge Realty Trust; Hugh Andrew, CEO of Bagmane Prime Office REIT; Sanjay Gulati, Co-Managing Director & Principal at Gensler; Chirag Boonlia, Chief Technology Officer of Embassy Group; and Gaurav Bhatia, EVP – Asset Management at…