The office is spread over 16 floors at Prestige Alphatech in Pune and is expected to be operational by the fourth quarter of 2024. The lease term is 15 years with a lock-in period and commands a rental of Rs 79 per sq ft.
Despite a subdued H1, leasing activity surged in H2, witnessing a 26% half-yearly rise. Pune led with a 25% share, followed closely by Mumbai at 22%, while Chennai matched Delhi NCR in leasing demand. The Bhiwandi micro market in Mumbai and Chakan-Talegaon in Pune were the most active, jointly constituting 42% of the demand, mentioned Colliers.
India s office space leasing, projected at 32-34 million sq ft this financial year, faces stagnation due to global uncertainties affecting key tenant sectors. Despite this, inherent market strengths and the return-to-office trend suggest a medium-term demand surge, stabilizing owners credit profiles. Dominated by tech firms and GCCs, current modest demand, especially in IT/ITeS and global sectors, contrasts with buoyant segments like BFSI, consulting, and e-commerce.
Revfin, the digital financing platform specializing in electric vehicles (EVs), is gearing up to secure funding of up to Rs 500 crore over the next 12 months to propel its ambitious business expansion, according to founder and CEO Samir Aggarwal. The company s growth strategy encompasses the commercial launch of its battery financing services by the conclusion of this fiscal year.
Like business and economic cycles, stock markets also have cycles where they will take a liking to a particular sector in such a manner that valuations will go through the roof. Then comes a phase, where the same sector is thrown down the dumps. Real estate sector is one sector where in 2008, valuations were at their peak. then come and fall and by the start of 2020 valuations were in the dumps. While they made a comeback when covid rally took place in 2020, multiple factors have kept the focus on the real estate stocks for the last more than two years. Given the changes which some laws have brought and the fact that some promoters have learnt the lesson the hard way, will the real estate stock be able to deliver consistent returns?