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

Welspun Enterprises Acquires 4.5 Lakh Sq Ft Office in Pune

MUMBAI: Welspun Enterprises Ltd has leased over 450,000 sq ft of office space in Pune’s prominent IT area, Hinjewadi, marking one of the largest office deals in the city this year. The space, located at Radius IT Park, part of the Hinjewadi IT Park cluster, has been acquired from Indo Global Soft Solutions & Technologies under a fresh lease agreement that began on April 1. The lease encompasses approximately 457,500 sq ft of chargeable area and over 329,000 sq ft of carpet area, distributed across eight floors of the commercial space, according to documents obtained from Propstack. The agreement commences…

CommercialLatest Stories

Q1 2026 Office Completions Drop 36% Amid West Asia Tensions

Representative Image NEW DELHI: According to a report by Vestian, India’s office space completions plunged 36% quarter-on-quarter, reaching 9.7 million sq ft in Q1 2026, the lowest in a year. The slowdown can be attributed to global uncertainties, including the West Asia conflict, causing developers to adopt a more cautious stance. Cities like Bengaluru, Hyderabad, and Mumbai were significantly affected, with Hyderabad’s completions dropping to just 0.3 million sq ft from 6 million sq ft in the previous quarter. Despite this reduction in supply, office demand remained strong, with absorption increasing by 20% year-on-year to 21.53 million sq ft, driven…

CommercialLatest Stories

Brookfield India REIT Launches Placement at ₹329.94/unit

NEW DELHI: Brookfield India Real Estate Trust (Brookfield India REIT) has commenced its institutional placement for unit subscriptions after receiving approval from unitholders earlier this month. The issue was initiated on April 16, 2026, following the approval from the issue committee of Brookprop Management Services, the REIT’s managing entity, which accepted the preliminary placement document. The institutional placement’s floor price has been established at ₹329.94 per unit, consistent with regulatory pricing criteria. Fundraising will occur through one or more tranches of institutional placements, in accordance with the Securities and Exchange Board of India (REIT) Regulations. Approval from unitholders for this…

CommercialLatest Stories

Brookfield India REIT Raises ₹2,600 Crore for Growth

MUMBAI: The International Finance Corporation (IFC), a member of the World Bank Group, in collaboration with Whiteoak Capital, HDFC Life Insurance, Axis Max Life Insurance, and PPFAS Mutual Fund, is participating in Brookfield India Real Estate Trust’s Qualified Institutional Placement (QIP) aimed at raising ₹2,600 crore, according to sources familiar with the matter. The initial issue, set at ₹2,000 crore, was increased with a 30% greenshoe option due to strong investor interest, and is expected to close this week. “The issue size was raised on Friday following enthusiastic responses from investors. Approximately 90% of the allocation went to long-only investors,…

CommercialLatest Stories

MDDA Rejects Commercial Project Near IMA-Dehradun Over Security Issues

DEHRADUN: The Mussoorie Dehradun Development Authority (MDDA) has denied a building permit for a commercial project near the Indian Military Academy (IMA) due to security concerns highlighted by the army. On April 15, the authority issued a rejection letter to builder Shivam Aggarwal after he failed to secure a required no-objection certificate from the IMA for the mixed-use building located in Panditwari. The MDDA noted that the builder was initially given two months to obtain the clearance, but he did not manage to do so. Internal communication from the Station Headquarters, Dehradun Cantt, dated February 2026, indicated that a “security…

CommercialLatest Stories

NBCC sells ₹5,779 crore commercial space in Sarojini Nagar

NEW DELHI: NBCC has successfully completed the e-auction of commercial built-up space available on freehold basis at Bharat Business Park (BBP), Sarojini Nagar, New Delhi. A total of approximately 23.44 lakh sq ft of super built-up area was offered across eight towers. The auction generated a total sales value of about ₹5,779 crore, which reflects the highest bid rates for approximately 14 lakh sq ft auctioned across five towers. The average sale rate recorded during this e-auction was ₹41,207 per sq ft, marking an increase of ₹2,107 per sq ft (5% over the reserve price). The proceeds from this e-auction…

CommercialLatest Stories

Office Vacancy Drops to 13.85% in Q1 2026: Report

Representative AI image NEW DELHI: According to a report by Cushman & Wakefield, India’s office market vacancy rate has dropped to 13.85% in the January-March quarter of 2026, falling below 14% for the first time since the pandemic. This decline is attributed to robust demand from occupiers and limited new supply. Vacancy levels decreased by 48 basis points quarter-on-quarter and 191 basis points year-on-year, marking the eleventh consecutive quarter of decline. The reduction in vacancy was largely due to consistent leasing across various sectors and a decline in new completions, which fell to 8.8 million sq ft in Q1 2026,…

CommercialLatest Stories

Mindspace REIT Buys 51% of ITPC – Radial Road for ₹3,000 Cr

NEW DELHI: Mindspace Business Parks REIT (Mindspace REIT) has secured a 51% ownership stake in the 2.6 million sq ft International Tech Park Chennai, Radial Road (ITPC – Radial Road) from AIGP2 Chennai 1, a subsidiary of CapitaLand India Growth Fund 2 (CIGF2), for ₹3,000 crore. The remaining 49% stake will be held by 360 ONE Asset’s real assets funds. This acquisition is expected to contribute ₹241 crore to net operating income (NOI) on a proforma basis (51% attributable to Mindspace REIT), while increasing the loan-to-value (LTV) ratio from 28.0% to 30.3%. Regarding the acquisition, Ramesh Nair, MD and CEO…

CommercialLatest Stories

India Office Leasing Up 10% to 21.6M Sq Ft in Q1 2026

NEW DELHI: India’s office market achieved a gross absorption of 21.6 million sq ft across six major cities in the January-March quarter of 2026, reflecting a 10% year-on-year increase, as reported by Savills India. This growth comes against a backdrop of global economic uncertainties. The quarter also saw a 28% year-on-year decline in new supply, totaling 7.9 million sq ft, which contributed to a decrease in overall vacancy rates to 13.9% amid consistent leasing activity. The robust beginning of the year positions the total office demand for 2026 at an estimated 75 million sq ft, while supply is anticipated to…

CommercialLatest Stories

Engineer flags commercial use of homes in Guwahati

GUWAHATI: Guwahati Municipal Corporation (GMC) mayor Mrigen Sarania stated on Sunday that there are buildings in some areas of the city where the ground floors are utilized for commercial activities while the upper floors serve as residences. This comes as the city awaits more clarity on a Supreme Court order issued on March 25. The Supreme Court has instructed municipal corporations across all states and Union Territories to carry out an inquiry to identify areas designated solely for residential use that are being misappropriated for commercial purposes. Sarania noted that within GMC’s jurisdiction, certain buildings possess both residential and commercial…