Commercial Leasing In Gurgaon Upbeat
While the services sector goes zip zap zoom in India, the impact is visibly there on the commercial leasing in Gurgaon, which is by far country’s hub in the services sector. Interestingly, the city is not just dominated by IT and ITeS and the banking and finance industry is gradually coming up as a major propeller in the real estate market of Gurgaon.
According to property agents in Gurgaon, the local economy of the city is booming like anything owing to its gigantic corporate base and that’s why banks and financial institutions are finding the Gurgaon marketplace as a potential opportunity.
Of late, banking sector major HSBC (Hong Kong Shanghai Banking Corporation) leased about 28,000 sq. ft of space at Regent Square, one of the busiest commercial destinations in Gurgaon.
Business conglomerate from the telecom services sector are also buzzing the Gurgaon Properties. The most happening deal in the Gurgaon office space segment took place with Bharati Telesoft leasing about 25,000 sq. ft of space at Unitech Cyber Park recently.
As per MagicBricks.com studies, the office lease market in Gurgaon was pretty upbeat in the past 12 months, however the buying transactions were reportedly on the beating. The capital values are overheating and that’s why a slowdown is there in the buying activities, sources told.
The average rentals for Grade-A office space in the prime commercial areas of Gurgaon were marked in the range between Rs 100-125 per sq. ft. The capital values, at the other end, were Rs 14,000-Rs 15,000 per sq. ft, in Gurgaon commercial real estate.
According to real estate developers running their projects in Gurgaon, leasing option has in fact evolved as a better option than the outright sale, and the returns are quite impressive in the segment. With this, leasing activities are likely to remain up at least for the next two quarters.
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