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

India office leasing expected to rise 12-14% in FY27: Ind-Ra

NEW DELHI: According to India Ratings and Research (Ind-Ra), the commercial real estate sector in India’s office market is expected to stay strong, with FY26 absorption predicted to increase by over 10% year-on-year, reaching around 79-80 million sq ft. For FY27, the rating agency forecasts a 12-14% year-on-year growth in office leasing, anticipating total leasing to hit 85-90 million sq ft. Vacancy rates are expected to stabilize between 12-18%, while rental prices may see a 4-6% increase year-on-year, driven by global capability centres (GCCs) and flexible workspace operators. Ind-Ra notes that volatility linked to the Middle East and the Strait…

CommercialLatest Stories

Green SM Leases 16,000 Sq Ft Office in Gurugram from Urban Vault

NEW DELHI: Urban Vault has recently facilitated a 16,000 sq ft managed office space for Green SM, the electric ride-hailing service affiliated with Vietnam’s Vingroup, located at Paras Twin Towers, Golf Course Road, Sector 54, Gurugram. This office will act as the operational center for Green SM, which began its operations in India on June 5, 2026, targeting Delhi-NCR as its inaugural market. Urban Vault is currently providing workspace infrastructure with approximately 500 seats for Green SM in Gurugram and Bengaluru, with plans to increase capacity to nearly 1,000 seats by year’s end. “India is a pivotal market for Green…

CommercialLatest Stories

DK Vertex Leases 1 Million Sq Ft in Seven Centers

DK Vertex, a co-working platform, has secured one million sq. ft across seven centers in Delhi-NCR, Bengaluru, and Mumbai. The company is providing 10,000 tech-enabled, customizable seats to cater to the needs of startups and businesses. It features a comprehensive recreational business ecosystem, inclusive of podcast studios, ad shoot spaces, wellness zones, recharge pods, and AI-powered concierge support. India’s flexible workspace market is evolving, with expected growth from USD 307.5 million in 2025 to USD 890.5 million by 2034, reflecting a CAGR of 12.16%. As part of the global tech firm Vertex Group, DK Vertex has received an investment of…

CommercialLatest Stories

Eight Indore Commercial Units Sealed for Fire Violations

INDORE: The Indore Municipal Corporation sealed eight commercial establishments on Saturday for non-compliance with mandatory fire safety standards. This action is part of a comprehensive inspection drive targeting commercial, institutional, and high-rise buildings throughout all municipal zones. During these inspections, officials assessed fire safety measures, including extinguishers, fire alarm systems, and hydrant networks. Establishments operating without the necessary fire safety equipment or using non-functional systems received notices detailing the required corrective measures. The civic body commenced sealing operations after these establishments failed to install or repair the required firefighting equipment within the designated timeframe. “Building operators are entirely responsible for…

CommercialLatest Stories

Kolhapur to Build 5 Commercial Complexes via PPP

KOLHAPUR: The Kolhapur Municipal Corporation (KMC) is exploring options to establish five to six large commercial complexes through a public-private partnership (PPP). KMC chief Rajendra Bharud has tasked all four divisional offices to pinpoint strategic locations for these commercial spaces, aiming to generate revenue through rentals. Priority sites include the city’s Shingoshi Market, Kombdi Bazaar, Chhatrapati Tararani Market Divisional Office, Central bus stand, Water Park-Bawda, and the rickshaw stands in the Central bus stand area. On Monday evening, Bharud convened a meeting with officials, instructing deputy city engineers from each divisional office to identify key areas in their jurisdictions and…

CommercialLatest Stories

Trichy to Establish New Industrial Park in Thiruverumbur

sipcot TRICHY: The official notification has been issued for Trichy’s second industrial park in Thiruverumbur, following the establishment of the Manapparai industrial park. The State Industries Promotion Corporation of Tamil Nadu (Sipcot) is actively promoting this initiative to attract potential investors. This industrial estate will be a dedicated land parcel allocated to a single investor within the engineering sector. The industrial park, strategically located near the Olympic training academy on the Trichy semi-ring road, spans 148.9 acres across the Elandapatti and Suriyur villages. While boundary walls have not yet been constructed, the land has been officially designated with entrance signage…

CommercialLatest Stories

Mangaluru IT Park tender sees no bids, deadline extended

MANGALURU: The proposed ₹135 crore IT Park in Mangaluru has encountered further challenges, as it remains unable to attract bidders, prompting the government to extend the tender deadline from May 29 to June 19. Sources from the Karnataka State Electronics Development Corporation Limited (Keonics) indicate that there may be further extensions, as there are currently no prospective bidders for the project. During the second round of bidding, Keonics and Credai Mangaluru noted that three interested stakeholders initially engaged but ultimately withdrew, citing several constraints within the tender conditions. This second bidding opportunity was reopened after the first round saw no…

CommercialLatest Stories

Wadhwa Group Leases 33,000 sq ft Office in Mumbai for ₹44 Crore

NEW DELHI: The Wadhwa Group has leased approximately 33,000 square feet of office space to the global investment research firm Morningstar at its commercial project in Mumbai, totaling a rental agreement of Rs 44 crore over a nine-year period. Based in Mumbai, Wadhwa Group specializes in residential, commercial, and township projects, having completed over 220 projects across the Mumbai Metropolitan Region (MMR), featuring a total area of 45 million sq ft. Morningstar has also leased an additional 32,551 sq ft at Wadhwa Group’s Vishwaroop IT Park (VITP) project in Vashi, Mumbai. A spokesperson for the company opted not to comment.…

CommercialLatest Stories

TCS Renews Chennai Office Lease: 1.5M Sq Ft for ₹1,420 Crore

MUMBAI: Tata Consultancy Services (TCS) has renewed its lease for nearly 1.5 million sq ft of office space in Chennai, with a total rental commitment of approximately Rs 1,420 crore over a decade. This move underscores the company’s long-term dedication to one of its key operational hubs. This lease renewal stands out as one of the largest reported in India, especially amid rising concerns about artificial intelligence’s effects on employment in the tech sector. Many global and Indian IT firms have reported productivity improvements due to AI-driven automation, sparking discussions about potential workforce reductions and decreased hiring. The lease pertains…

CommercialLatest Stories

Smartworks Leases 400+ Seats to Japanese NBFC in Mumbai

NEW DELHI: Smartworks Coworking Spaces has secured a lease for over 400 seats with a Japanese NBFC subsidiary in Mumbai. The five-year deal is projected to yield rental revenue of ₹35 crore. Neetish Sarda, the founder and managing director, stated, “Large teams necessitate a specific set of workplace needs – they require a space that operates seamlessly, maintains consistency across touchpoints, and is scalable as the organization expands.” Clients occupying 300 or more seats represent 69% of the company’s rental income, with an average tenure of 47 months for this group. Approximately 90% of the firm’s revenue is derived from…