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

Maharashtra Advances on ₹1,600 Crore Air India Building Buyout

MUMBAI: The Maharashtra government is moving toward acquiring the historic Air India building in South Mumbai. The Finance Department has transferred ₹1,600 crore to the Public Works Department, initiating the process to finalize an agreement with Air India Assets Holding Limited. A senior PWD official mentioned that a draft of the agreement will be reviewed to ensure accuracy and is expected to be signed within the next two weeks. The Centre approved the building’s sale to Maharashtra for ₹1,601 crore in March 2024, and the state cabinet gave the go-ahead for the acquisition in November 2025. Once the agreement is…

CommercialLatest Stories

Bagmane Prime Office REIT to Launch ₹3,405 Crore IPO May 5

NEW DELHI: Backed by Blackstone, Bagmane Prime Office REIT is set to launch its initial public offering (IPO) of Rs 3,405 crore, which is scheduled to open on May 5 and conclude on May 7. The anchor investor bidding will occur on May 4, as indicated in the offer document. The IPO includes a fresh issue of units worth up to Rs 2,390 crore and an offer-for-sale (OFS) of units totaling up to Rs 1,015 crore from the selling unitholder. Funds raised from the IPO will be used to acquire Luxor at Bagmane Capital Tech Park (comprising one million sq…

CommercialLatest Stories

ICICI Pru Alternatives Acquires RMZ Office Assets for ₹2,600 Cr

MUMBAI: ICICI Prudential Alternatives has purchased two Grade A office properties from the RMZ Group in Bengaluru and Pune for approximately ₹2,600 crore, thereby enhancing its portfolio in income-generating commercial real estate. The acquisition was made through the ICICI Prudential Office Yield Optimiser Fund, a ₹2,500 crore initiative targeting completed and pre-leased office spaces in major Indian markets. The Bengaluru property, EcoWorld 21, is situated on the Outer Ring Road, the largest office micro-market in the country and a center for global capability centers (GCCs). This facility encompasses around 675,000 sq ft, leased to a variety of multinational companies with…

CommercialLatest Stories

Embassy Office Parks REIT’s FY26 NOI Soars 15%

NEW DELHI: Embassy Office Parks REIT (Embassy REIT) has reported a 15% increase in its net operating income (NOI) totaling ₹3,760 crore for the financial year 2025-26. The Board of Directors of Embassy Office Parks Management Services (EOPMSPL), the manager for Embassy REIT, declared distributions of ₹6,161.31 million (or ₹6.50 per unit) for the quarter ending March 31, 2026. This distribution includes ₹132.71 million (₹0.14 per unit) as interest, ₹1,317.57 million (₹1.39 per unit) as dividends, and ₹4,711.03 million (₹4.97 per unit) toward repayment of SPV-level debt. Amit Shetty, CEO of the company, stated, “We successfully leased 6.4 million sq…

CommercialLatest Stories

Villagers Reject Multi-Dwelling Units at Loliem

CANACONA: The Loliem-Polem gram sabha voted unanimously on Sunday against the construction of multi-dwelling units, including residential complexes, commercial blocks, hotels, and other large projects. Residents expressed their concerns following an application from a Mapusa-based real estate company seeking a license to build 36 villas and a swimming pool behind S S Angle higher secondary school at Dapot. In response, the gram sabha urged the panchayat to contact the deputy town planner and district deputy collector to ensure the resolution is implemented. Villagers emphasized the need for the panchayat to enforce their demands and, if necessary, appeal to the highest…

CommercialLatest Stories

WeWork India Leases 200,000 Sq Ft in Pune’s Wakad

MUMBAI: WeWork India Management has secured a lease for over 204,000 sq ft of office space at Phoenix Millennium Tower 3 in Pune’s Wakad area through a long-term agreement. The lease spans five floors—from the 13th to the 17th. The 13th, 14th, and 15th floors are leased for a decade, while the 16th and 17th floors are on a five-year term. The monthly rent is set at ₹73 per sq ft, amounting to a total monthly expenditure of more than ₹1.49 crore. The agreement includes a 12% rental increase after the first three years, followed by a 13.5% rise every…

CommercialLatest Stories

Brookfield India REIT Secures ₹2,600 Crore in Placement

NEW DELHI: Brookfield India Real Estate Trust (Brookfield India REIT) has successfully raised around ₹2,600 crore through an institutional placement of units, which includes a ₹1,125 crore investment from 360 ONE Asset in one of its prominent office assets located in Bengaluru. According to a regulatory filing, the REIT allocated over 8.04 crore units to eligible institutional investors at an issue price of ₹323 per unit, which is a 2.1% discount compared to the floor price of ₹329.94 per unit. In another development, Arliga Ecoworld Business Parks, a special purpose vehicle (SPV) of Brookfield India REIT, completed the equity shares…

CommercialLatest Stories

Bengaluru Metro Pink Line to Boost 5-7 Million Sq Ft Office Demand

File Photo NEW DELHI: Bengaluru’s growing metro network, especially the soon-to-be-launched Pink Line and the recently inaugurated Yellow Line, is predicted to spur a demand for 5-7 million sq ft of office space over the next two years, according to a report by Colliers. The demand is expected to be focused in key micro-markets including central business districts (CBD), secondary business districts (SBD), and peripheral areas like Electronic City, facilitated by enhanced connectivity and shorter commute times. The report highlights that a similar amount of new Grade A office space, around 5-7 million sq ft, is anticipated to be developed…

CommercialLatest Stories

Office rentals in Delhi-NCR, Bengaluru surpass ₹100/sq ft: Knight Frank

NEW DELHI: Prime office rents in Bengaluru and Delhi-NCR have surpassed Rs 100 per sq ft for the first time, driven by demand outstripping supply, according to Knight Frank’s latest data. In Mumbai, average office rents have already crossed this threshold. The data indicates that office space rentals in eight major Indian cities increased by 2 to 15 percent from January to March 2026 compared to the same period last year. The highest annual growth rate of 15 percent was observed in Delhi-NCR and Kolkata. “Supply constraints in key markets have fostered a persistent rental upcycle since early 2022,” Knight…

CommercialLatest Stories

Pune Cantonment’s 120-Year-Old MG Road Building to Get Revamp

PUNE: The Pune Cantonment Board (PCB) is exploring ways to address its financial challenges by transforming its historic headquarters on MG Road into a commercial enterprise. This colonial-era building, over 120 years old, was the administrative center for the PCB until 1988 when it was repurposed as a cantonment court. With the court moving to a new facility in June 2024, the two-storey heritage site has become vacant. The board plans to convert this property into a source of revenue by capitalizing on its prime location. “We have initiated the process to change the property’s purpose. The proposal has been…