0od0-delhi ncr market report q2 2012
TRANSCRIPT
-
7/29/2019 0od0-Delhi Ncr Market Report q2 2012
1/13
CITY REPORT
DELHI OFFICE M ARKET
Q2 201 2
-
7/29/2019 0od0-Delhi Ncr Market Report q2 2012
2/13
SUM M ARY
Caut ious sen t im ent d isp layed by occup iers has led t o a d ip in
demand in Q2 compared to p rev ious quar te r . Res t ra ined pre-
c om m i t m en t s hav e al s o l i m i t ed i n t r oduc t i on o f f r es h s upp l y inthe marke t , as deve lopers wa i t f o r ren ta ls t o inc rease to
adequate leve ls .
The scenar io in t he o f f i ce space segment has been dr i ven
l a r ge l y by t he ov e r a l l ec onom i c c l i m a t e , w i t h a l l s t ak eho l de r s
adopt ing a wa i t and watch po l i cy . Renta ls have consequent l y
r em a i ned st ab l e t h r oughou t t he f i r st ha l f o f 2012 and a r e no t
expec t ed t o r eg i st e r g r ow t h un t i l t he end o f t he y ea r.
Of f i ce space demand in NCR cont inues to be d r i ven by the
IT/ ITeS indus t ry an d i s f ocused pr im ar i l y in Gurgaon (sou ther ns ubu r b ) , w i t h dev e l ope r s i n N o i da ( eas t e r n s ubu r b ) ho l d i ng
back f resh supp l y. I n v iew o f t h e quantum o f expec ted supp ly t o
be in t rod uced, lease ren t a ls a re l i kely t o rem ain a t ra t iona l i zed
leve ls f o r t h e fo reseeab le fu tu re .
Renta l s Stagnat e as Dem and D ips
CITY REPORT - DELHI OFFICE MARKET - Q2 201 2 2
-
7/29/2019 0od0-Delhi Ncr Market Report q2 2012
3/13
CITY REPORT - DELHI OFFICE MARKET - Q2 201 2 3
M ACROECONOM IC CON TEXT
Dom est i c g r ow t h dec el e r a t ed on t he bac k o f gl oba l anddom est i c f ac t o r s
Repo Reverse Repo
Repo & Rever se Repo Rat e9
6
3Percent
1
Gross Dom est ic Pr odu ct (GDP)
Q2
2009
0
2
4
6
8
12
10
Q3
2009
Q4
2009
W hol esale Pr ice Index (WPI)
0
2
4
6
8
10
12
Source : Confedera t ion o f Ind ian Indus t r i es
Q1
2010
2
4
5
0
Q2
2010
Q3
2010
Q4
2010
SLR CRR
CRR & SLR
30
20
10
5
Per
cent
0
15
25
Percent
Percent
7
* La test Round P ro j ec t i on by Su rvey o f P ro fess iona l Fo recas te r s conduc ted by RB I
M
ar-
10
Q1
2011
Feb-
10
Apr-
10
M
ay-
10
Jun-
10
Q2
2011
Aug-
10
Oct-10
8
Jul-10
Aug-
10
Sep-
10
Q1
2012*
Q4
2011
Q3
2011
Dec-
10
Oct-10
Nov-
10
Dec-
10
Jan-
11
M
ar-
11
Feb-
11
Apr-
11
M
ay-
11
Jun-
11
Sep-
11
Dec-
11
Apr-
10
Aug
-10
Oct-10
Dec
-10
Jun
-10
Feb
-11
Apr-
11
Aug
-11
Oct-11
Dec
-11
Jun
-11
Jul-11
Aug-
11
Oct-11
Nov-
11
Jan-
12
M
ar-
12
Feb-
12
M
ay
-10
Jul-10
Sept-10
Nov
-10
Jan
-11
M
ar-
11
M
ay
-11
Jul-11
Sept-11
Nov
-11
Feb
-12
Jan
-12
M
ar-
12
Dec-
09
Feb-
10
Apr-
10
Jun-
10
T h e d o me s t i c GDP g ro wth d e c l in e d sh a rp ly to 6 .5 % d u r in g 2 0 1 1 -1 2 f ro m8 .4 % in t h e p re v io u s ye ar . T h e q u a r te r l y g ro wt h r a te s h a ve b e en sh o w in g ad e c l in in g t re n d fo r th e p re ce d in g fo ur q u a r t e rs w i th t h e fo u r th q u a r t e r GDPg r o w t h r a t e s l o w i n g t o 5 .3 % t h e l o w e s t q u a r t e r l y g r o w t h r a t e i n l a s t 7ye a rs . T h e g ro wt h fa ce s in c re a sed p re ssu re f ro m m o d e ra t io n in in ve s tm e n td e ma n d , d o me s t i c c yc l i ca l a n d s t ru c tu ra l f a c to rs a n d a n u n ce r ta in g lo b a le n v i ro n me n t . Bu s in e ss co n f id e n ce , a s me a su re d b y th e b u s in e ssexpecta t ion s ind ices o f th e Reserve Bank 's indus t r ia l ou t look survey , show eda p ick -u p in th e b u s in e ss se n t ime n t i n Q4 o f 2 0 1 1 -1 2 , b u t a ma rg in a lm o d e ra t io n in Q1 o f 2 0 1 2 -1 3 .
T h e in f la t io n d u r in g Ju n e 2 0 1 2 h a s m o d e ra te ly s lo w e d d o wn to 7 .2 5 %, th elo we s t l e ve l i n p a s t f i ve mo n th s . T h e in f la t io n h a s d e c l in e d la rg e ly o na ccou n t o f t r a n s i to ry fa c to rs in c lu d in g a fa vo ra b le b a se e f fe ct a n d se a son a ld e c l in e in ve g eta b le p r i ces . T h e m o d e ra t io n w a s in i t i a l l y d r i ve n b y so f te n in go f fo o d p r i ce s a n d th e n b y a d e c l in e in n o n - fo o d ma n u fa c tu re d p ro d u c ts
(co re ) i n f l a t i o n . No tw i th s ta n d in g th e re cen t m o d e ra t io n in g lo b a l c ru d e o i lp r i ce s a n d d o m e s t i c p r i ce p re ssu re s in m a n u fa c tu re d p ro d u c ts , u p s id e r i s ksto in f la t io n re m a in . Tra n s i to ry fa c to rs h a ve h e lp e d m o d e ra te in f la t io n , b u tin f la t io n i s l i ke ly to tu rn s t i c ky in F Y 2 0 1 2 -1 3 . T h e l i ke ly t re n d s in g lo b a lc ru d e o i l p r i ce s , g o in g a h e ad , re ma in u n ce r ta in . Mo re o ve r, t h e im p a c t o f th ela g g e d p a ss- t h ro u g h o f ru p e e d e p re c iat io n , su p p re sse d in f la t io n in e n e rg ya n d fe r t i l i ze rs a n d p o ssib le f i s ca l s l i p p a g e co n t in u e to p o se a s ig n i f ica n tt h r e a t .
T h e b a n k ra te h a s b e en re d u ce d m a rg in a l l y f r o m 9 .5 0 % in Q1 2 0 1 2 to 9 % inQ2 2012. The Reserve Bank o f Ind ia h ad ann ounced a reduc t ion o f 50 bas isp o in ts in t h e re p o ra te th i s q u a r te r o n Ap r i l 1 7 , 2 0 1 2 ; th i s re d u c t io n h a s ta ke np la ce fo r th e f i r s t t im e in p a s t 3 ye a rs . Th e re p o a n d re ve rse re p o ra te a re a t8% and 7% respectively. The Cash Reserve Ratio (CRR) has been retained at
4 .75% o f the i r NDTL th is quar te r end ing June. The Sta tu to ry L iqu id i ty Rat io(SLR) a lso rem ained a t 24% since pas t tw o years . Though t her e has been ama rg in a l d e c l in e in b o th in f la t io n a n d b a n k ra te , th e Re a l Es ta te se c to rco n t in u e s to b e u n d e r p re ssu re , d u e to h ig h co st o f b o r r o w in g .
T h e r i s ks to h e a l th o f th e co rp o ra te sec to r i n t h e e con o m y re ma in e le va te d inQ2 2 0 1 2 . T h e re cen t co rp o ra te re su l t s p o in t t o fa l l i n g p ro f i t a b i l i t y d u e to r i sein in p u t co s ts , i n c lu d in g in te re s t co s ts , a n d mo d e ra t io n o f e x te rn a l a n dd o m e s t i c d e m a n d .
Source: RBI, CSO
DLF Lim i ted 2 9 %
M ajor Real Esta t eCom pan ies in
In d i a
Sal es (In IN R / I n m il li on ) Pr of it s ( In IN R / I n m i ll ion )
Q1 201 2 Q4 2011Q on Q
Change % Q1 20 12 Q4 20 11Q on Q
Change %
Un i t e c h
Ind ia Bu l l s 2 5 % 4 2 %
Sobha Deve lopers
Peninsu la Land 5 1 0 % 6 8 7 %
P a rs v n a t hDeve lopers
Pheon ix 5 % 2 %
Omaxe L imi ted
M a h i n d r aLi fespace
- 9 % - 1 9 %
A n a n t ra j
H u b t o w n
Ansa l Proper t ies
- 2 5 %
3 9 % - 9 4 %
3 4 % 2 3 %
- 2 9 % - 6 4 %
4 4 % 3 %
- 5 7 % - 1 5 7 %
- 9 %
5 2 % 1 2 2 %
- 1 9 6 %
20,344
5,139
3,137
4 5 4
2,396
5 0 5
4,518
1,538
9 2 2
1,469
2,262
2,495
5 7 5
4 0 8
4 0 1
1 0 5
2 4 8
2 6 9
1 9 3
3 9 5
3 3 9
2 9 8
- 2 1 3
3,565
Aug-
11
Oct-11
Dec-
11
Feb-
11
Apr-
11
Jun-
11
Feb-
12
Apr-
12
Jun-
12
5.30%
9.80%9.40%
8.50%
7.60%
8.30%
7.80%
7.70%
6.90%6.10%
6.60%
7.40%
Apr-
12
Jun
-12
M
ay
-12
2 6 ,1 6 8 1 ,8 6 1
7 ,1 6 1 3 3
4,452 5 7 8
4 ,7 6 9 8 9 0
2 ,7 7 1 8 2 8
2 ,1 9 2 - 2 3 7
5 3 1 2 7 3
6 ,0 3 6 2 7 3
1 ,4 0 0 3 2 1
6 5 4 1 2 3
6 2 8 - 1 7 1
3 ,2 5 3 - 2 1 9
-
7/29/2019 0od0-Delhi Ncr Market Report q2 2012
4/13
-
7/29/2019 0od0-Delhi Ncr Market Report q2 2012
5/13
CENTRAL BUSINESS DISTRICT (CBD)
T h e CBD con t in u e s to b u ck th e t re n d w i tn e ssed a c ro ss th e Na t io n a l
Ca p i ta l Re g io n . W i th l im i te d sp a ce to o f fe r , t h e re g io n ma in ta in s a
s te a d y gro w th in l e a se re n ta l .
T h e m ic ro -ma rke t ma in ta in s i t s p re e min e n t p o s i t i o n a s a fa vo re d
d e s t in a t io n fo r BFSI an d o th e r co rp o ra te se c to r co m p a n ie s . Al th o u g h
n o n e w f re sh su p p ly i s e xp ec te d in th e n e a r fu tu re , th e m ic ro -m a rke t
i s exp e c te d to w i t n e ss su s ta in e d d e ma n d fo r i n ve s tm e n t g ra d e o f f i ce
space.
Ren t a l s c on t i n ue t o w i t ness g r ow t h
CBD
CapitalValues(INR
/sq.f
t)
Q22 0 1 1
29,000
32,000
34,000
Rent
alValues(INR
/sq.f
t/m
onth)
2 4 0
2 6 0
2 8 0
3 0 0
27,000
31,000
33,000
T h e a ve ra g e re n ta ls & ca p i ta l va lu e s fo r th e la s t 6 q u a r te rs a re a s
fo l l o ws : -
CBD
28,000
35,000
Q22 0 1 1
Q12 0 1 1
Q12 0 1 1
30,000
36,000
Q22 0 1 2
Q12 0 1 2
Q42 0 1 1
Q32 0 1 1
Q22 0 1 2
Q12 0 1 2
Q42 0 1 1
Q32 0 1 1
Source : BNP Par ibas Rea l Es ta te - Research , Ind ia
CBD
AVERAGE CAPITAL VALUES (INR / SQ.FT)
35,000
Q22012
Q12012
Q42011
Q32011
Q22011
Q12011
3 5 ,0 0 0 3 5 ,0 0 0 3 5 ,0 0 0 3 5 ,0 0 0
Source : BNP Par ibas Rea l Es ta te - Research , Ind ia
CBD
AVERAGE REN TAL VALUES ( IN R / SQ.FT / M ONTH )
Q22011
Q12011
3 0 0 3 0 0
Q22012
Q12012
Q42011
Q32011
3 0 0 3 2 0 3 2 5
3 2 0
3 6 0
CITY REPORT - DELHI OFFICE MARKET - Q2 201 2 5
3 5 0
35,000
3 4 0
-
7/29/2019 0od0-Delhi Ncr Market Report q2 2012
6/13
ALTERNATE CENTRAL BUSINESS DISTRICT(ALTERNATE CBD)
With l im i te d t ra n sa c t io n a c t i v i t y a c ro ss th e A l te rn a te CBD, re n ta ls
h a ve la rg e ly re m a in e d s ta b le o ve r th e la s t ye a r . T h e se m ic ro -m a rke tsco n t in u e to le ve ra g e th e i r p o s i t i o n in g a s co mp a re d to e s ta b l i sh e d
h u b s in De lh i ' s sa te l l i t e to wn s a n d o f fer in g co mp e t i t i ve re n ta ls v i s - -
vis t he CBD.
Stab i l i zed Rent a ls
Source : BNP Par ibas Rea l Es ta te - Research , Ind ia
Bika j i Cam a Place
Jasola Vihar
M u n i r k a
AVERAGE CAPITAL VALUES (INR / SQ.FT)
Q22012
Q12012
Q42011
Q32011
Q22011
Ne h ru P la ce
QutabIn s t i t u t io n a l Are a
Saket
Vasant Kun j
Q12011
Source : BNP Par ibas Rea l Es ta te - Research , Ind ia
Bika j i Cam a Place
Jasola Vihar
M u n i r k a
AVERAGE REN TAL VALUES ( IN R / SQ.FT / M ONTH )
Q22011
Ne h ru P la ce
Qutub Inst i tu t iona lArea
Saket
Vasant Kun j
T h e a ve ra g e re n ta ls & ca p i ta l va lu e s fo r th e la s t 6 q u a r te rs a re a s
fo l l o ws : -
Q12011
1 3 7
1 1 6
1 5 7
1 8 5
1 1 0
1 5 8
1 5 7
12,500
14,500
15,500
20,300
12,500
20,500
20,500
Q22012
Q12012
Q42011
Q32011
1 3 7
1 1 6
1 5 7
1 8 5
1 1 0
1 5 8
1 5 7
12,500
14,500
15,500
20,300
12,500
20,500
20,500
1 3 7 1 3 7 1 3 7
1 1 6 1 1 6 1 2 0
1 5 7 1 5 7 1 6 0
1 8 5 1 8 5 1 9 0
1 1 0 1 1 0 1 1 5
1 5 8 1 5 8 1 6 5
1 5 7 1 5 7 1 6 0
1 2 ,5 0 0 1 2 ,5 0 012,500
1 4 ,5 0 0 1 6 ,0 0 016,000
1 5 ,5 0 0 1 5 ,5 0 015,500
2 0 ,3 0 0 2 0 ,3 0 020,300
1 2 ,5 0 0 1 2 ,5 0 012,500
2 0 ,5 0 0 2 3 ,0 0 023,000
2 0 ,5 0 0 2 0 ,5 0 020,500
CapitalV
alues(INR
/sq.f
t)
20,000
22,000
10,000
18,000
Ne h ru P la ce
Vasant Kun j
Saket
M u n i r k a
Jasola Vihar
Bika j i Cam a Place
Qu tu b In st i t u t io n a lArea
Q12 0 1 1
Q22 0 1 2
Q12 0 1 2
Q42 0 1 1
Q32 0 1 1
Q22 0 1 1
12,000
14,000
16,000
24,000
Ne h ru P la ce
Vasant Kun j
Saket
RentalValues(INR
/sq.f
t/m
onth)
M u n i r k a
Bika j i Cam a Place
Jasola Vihar
Qu tu b In st i t u t io n a lArea
1 0 0
1 2 0
2 2 0
2 0 0
Q22 0 1 2
Q12 0 1 2
Q42 0 1 1
Q32 0 1 1
Q22 0 1 1
Q12 0 1 1
8 0
1 4 0
1 6 0
1 8 0
CITY REPORT - DELHI OFFICE MARKET - Q2 201 2 6
1 3 7
1 2 0
1 6 0
2 0 0
1 1 5
1 6 5
1 6 0
12,500
16,000
15,500
20,300
12,500
23,000
20,500
-
7/29/2019 0od0-Delhi Ncr Market Report q2 2012
7/13
SECON DARY BUSIN ESS DISTRICT (SBD)
T h e se co n d a ry b u s in e ss d is t r i c t s o f N CR h a ve ch a r te d a la rg e ly f l a t
g ro wt h p a th o ve r th e la s t ye a r. Tra f f i c con g e s t io n , sma l le r fo rm a ts a n d
la ck o f i n ve s tme n t g ra d e su p p ly a re a fe w fa c to rs wh ich h a ve
co n t r ib u t e d to th e s ta g n a n t re n t a ls a c ro ss th e se m a rke ts .
W i th n o f re sh su p p ly e xp e cte d in th e n e a r fu tu re , th e se m ic ro -m a rke ts
a re e xp e c te d to a t t ra c t c l i e n ts p r ima r i l y o n th e i r l o ca t io n
a t t r a c t i ve n e ss f ro m r e g io n a l o f f i ces o f ma jo r co rp o ra te s in a d d i t i o n t o
sma l l t o m e d iu m lo ca l b u s in e sse s.
Fla t Grow th Char t ac r oss SBD
Cap
italValues(INR
/sq.f
t)
5,000
Jana k Pur i
M a t h u r a I n d u st r i a lArea
Okh la
P i t a m p u r a
Sh a h d a ra
6 ,000
7,000
8,000
Q12 0 1 1
T h e a ve ra g e re n ta ls & ca p i ta l va lu e s fo r th e la s t 6 q u a r te rs a re a s
fo l l o ws : -
Q22 0 1 2
Q12 0 1 2
Q42 0 1 1
Q32 0 1 1
Q22 0 1 1
RentalValues(INR
/sq.f
t/m
onth)
4 5
Jana k Pur i
M a t h u r a I n d u st r i a lArea
Okh la
P i t a m p u r a
Sh a h d a ra
5 0
5 5
6 0
Q12 0 1 1
7 5
7 0
Q22 0 1 2
Q12 0 1 2
Q42 0 1 1
Q32 0 1 1
Q22 0 1 1
6 5
5,500
6,500
7,500
Source : BNP Par ibas Rea l Es ta te - Research , Ind ia
Sh a h d a ra
M a t h u r aIn d u s t r ia lArea
Janak Puri
Okh la
P i t a m p u r a
AVERAGE REN TAL VALUES ( IN R / SQ.FT / M ONTH )
Q22011
Q12011
5 3
5 2
6 4
5 2
5 3
Q22012
Q12012
Q42011
Q32011
5 3
5 2
6 4
5 2
5 3
5 3 5 55 3
5 2 5 55 2
6 4 7 06 4
5 2 5 55 2
5 3 5 55 3
Source : BNP Par ibas Rea l Es ta te - Research , Ind ia
Sh a h d a ra
M a t h u r aIn d u s t r ia lArea
Janak Puri
Okh la
P i t a m p u r a
AVERAGE CAPITAL VALUES (INR / SQ.FT)
Q12011
Q22012
Q12012
Q42011
Q32011
Q22011
7,500
6,000
6,000
5,500
5,500
7,500
6,000
6,000
5,500
5,500
7 ,5 0 0 7 ,5 0 07,500
6 ,0 0 0 6 ,0 0 06,000
6 ,0 0 0 6 ,0 0 06,000
5 ,5 0 0 5 ,5 0 05,500
5 ,5 0 0 5 ,5 0 05,500
CITY REPORT - DELHI OFFICE MARKET - Q2 201 2 7
5 5
5 5
7 0
5 5
5 5
7,500
6,000
6,000
5,500
5,500
-
7/29/2019 0od0-Delhi Ncr Market Report q2 2012
8/13
AVERAGE CAPITAL VALUES (INR / SQ.FT)
Q22012
Q12012
Q42011
Q32011
Q22011
Golf Cour se Rd
M G Road
NH8 / Udyog V ihar
Sohna Rd
Manesar
Expressway
Sector 58
Sector 62
Sector 63/64
Gurgaon
M anesar
No i da
PERIPHERY BUSINESS DISTRICT (PBD)
Re n ta l a c ro ss d i f f e re n t m ic ro ma rke ts o f th e PBD h a ve re ma in e ds ta b le in th e se co n d q u a r te r o f 2 0 1 2 . W i th p ro sp e c t i ve te n a n tsde lay ing dec is ions on leas ing o f f ice space and s izeab le vacant
in ve n to ry in th e m a rke t , ca p i ta l m a rke ts to o h a ve s ta b i l i zed in Q2 .T h e o vera l l e con o m ic sen t im e n t h a s p u sh e d b a ck d e cis ion s fo r m a n yIT / ITeS compan ies , a ma ins tay o f demand in the PBD. However ,Gu rg a o n h a s w i tn e ssed a n in c re a se in d e m a n d fo r i n ve s tm e n t g ra d eo f f i ce sp a ce, wh i le No id a h a s w i t n e sse d a d e c l in e o ve r t h e p re v io u sq u a r te r . Co n s t ra in e d d e m a n d a n d h ig h va ca n cy le ve ls in No id a h a vea lso co mp e l l e d d e ve lo p e rs to d e la y in t ro d u c t io n o f f r e sh su p p ly.
L ea s in g a c t i v i t y i s exp e c te d to g ain m o m e n tu m in th e la t te r h a l f o f t h eye a r , w i th a co n se q u e n t p o s i t i ve imp a c t o n th e le a se re n ta ls in th ePBD.
Renta l s tab i l i ze i n f ace o f reduced space o f f- t ake
Source : BNP Par ibas Rea l Es ta te - Research , Ind ia
Source : BNP Par ibas Rea l Es ta te - Research , Ind ia
T h e a ve ra g e re n ta ls & ca p i ta l va lu e s fo r th e la s t 6 q u a r te rs a re a sfo l l o ws : -
Q12011
13,000
13,000
8,000
7,500
4,500
7,300
4,300
4,700
4,000
13,000
13,000
8,000
7,500
4,500
7,300
4,300
4,700
4,000
DLF Cyber City
AVERAGE RENTAL VALUES (INR / SQ.FT / M ONTH )
Golf Cour se Rd
M G Road
NH8 / Udyog V ihar
Sohna Rd
Manesar
Expressway
Sector 58
Sector 62
Sector 63/64
Gurgaon
M anesa r
No i da
Q1
2011
Q2
2012
Q1
2012
Q4
2011
Q3
2011
Q2
2011
6 5
9 5
97
4 5
50
3 5
5 5
3 2
3 5
30
7 0
10 0
10 0
5 0
5 6
3 5
5 8
3 5
3 7
3 5
7 0 7 57 57 0
1 00 10 01 001 00
1 00 11 01 101 00
5 0 5 0505 0
5 6 565 65 6
35 3 53 535
5 8 6 0605 8
35 3 53 535
37 4 04037
35 3 53 535
13 ,00 0 1 7 ,0 0017,00016,000
13 ,00 0 1 7 ,0 0017,00016,000
8 ,0 0 0 8 ,00 08,0008,000
7 ,5 0 0 8 ,00 08,0008,000
4 ,5 0 0 4 ,50 04,5004,500
7 ,3 0 0 7 ,30 07,3007,300
4 ,3 0 0 4 ,30 04,3004,300
4 ,7 0 0 4 ,70 04,7004,700
4 ,0 0 0 4 ,00 04,0004,000
0
2 0
4 0
RentalValues(INR
/sq.f
t/m
onth)
6 0
8 0
2,000
4,000
6,0008,000
10,000
12,000
14,000
CapitalValues(INR
/sq.f
t)
M G Ro a d - Gu rg a on
Golf Course Rd -Gurgaon
DLF Cyber City
Sohna Road -Gurgaon
N H 8 / U d y o gV ih a r - Gu rg a on
Sector 62 , No ida
M a n e sar - Gu rg a o n
Exp re sswa y - N o id a
Sector 58 , No ida
Sec to r 6 3 / 6 4 , No id a
M G Ro a d - Gu rg a on
Golf Course Rd -Gurgaon
Sohna Road -Gurgaon
N H 8 / U d y o gV ih a r - Gu rg a on
Sector 62 , No ida
M a n e sar - Gu rg a o n
Exp re sswa y - N o id a
Sector 58 , No ida
Sec to r 6 3 / 6 4 , No id a
Q12 0 1 1
Q12 0 1 1
1 2 0
1 0 0
Q22 0 1 2
Q12 0 1 2
Q42 0 1 1
Q32 0 1 1
Q22 0 1 1
Q22 0 1 2
Q12 0 1 2
Q42 0 1 1
Q32 0 1 1
Q22 0 1 1
16,000
18,000
CITY REPORT - DELHI OFFICE MARKET - Q2 201 2 8
-
7/29/2019 0od0-Delhi Ncr Market Report q2 2012
9/13
RENTAL VALUES FOR Q2 2012
RentINR / sq.f t
CBD
RegionQ on QChange
CBD
3 5 0 8 %
Ma th u ra In d u s t r ia l A re a
Janak Puri
Region
Sh a h d a ra
P i t a m p u r a
RentINR / sq.f t
Q on QChange
SBD
5 5
5 5
5 5
55
0 %
0 %
0 %
0 %
Okh la 7 0 0 %
Vasant Kun j 1 6 0 0 %
Bika j i Cam a Place
Jasola Vihar
M u n i r k a
RegionRent
INR / sq.f tQ on QChange
Al te rn a te CBD
1 3 7
1 2 0
1 6 0
0 %
0 %
0 %
Ne h ru P la ce
Qutab Inst i tu t iona l Area
Saket
2 0 0
1 1 5
1 6 5
5 %
0 %
0 %
Source : BNP Par ibas Rea l Es ta te - Research , Ind ia
Golf Cour se Rd
DLF Cyber City
RegionRent
INR / sq.f tQ on QChange
PBD
1 0 0
7 5
0 %
0 %
M a n e s a r 3 5 0 %
M G Road 1 1 0 0 %
NH8 / Ud yo g v ih a r 5 0 0 %
Expressway 6 0
Sohna Rd 5 6 0 %
Gurgaon
M anesar
N o ida
Sect or 5 8 3 5
Sect or 6 2 4 0
Sect or 6 3 / 6 4 3 5
0 %
0 %
0 %
0 %
CITY REPORT - DELHI OFFICE MARKET - Q2 201 2 9
CAPITAL VALUES FOR Q2 2 01 2
INR / sq . f t
CBD
RegionQ on QChange
CBD
3 5 ,0 0 0 0 %
20,500
12,500
16,000
15,500
20,300
12,500
23,000
Vasant Kun j 0 %
Bika j i Cam a Place
Jasola Vihar
M u n i r k a
Region INR / sq . f tQ on QChange
Al te rn a te CBD
0 %
0 %
0 %
Ne h ru P la ce
Qutab Inst i tu t iona l Area
Saket
0 %
0 %
0%
M a t h u r a I n d u s t r i a l A r ea
Janak Puri
Region
Sh a h d a ra
P i t a m p u r a
INR / sq . f tQ on QChange
SBD
0 %
0 %
0 %
0 %
Okh la 0 %
6,000
7,500
5,500
5,500
6,000
Golf Cour se Rd
Region INR / sq . f tQ on QChange
PBD
1 7 ,0 0 0 0 %
M a n e sa r 4 ,500 0 %
M G Road 1 7 ,0 0 0 0 %
NH8 / Ud yo g v ih a r 8 ,0 0 0 0 %
Expressway 7 ,3 0 0 0 %
Sohna Rd 8 ,0 0 0 0 %
Gurgaon
M anesar
N o ida
Sect or 5 8 4 ,3 0 0 0 %
Sect or 6 2 4 ,7 0 0 0 %
Sect or 6 3 / 6 4 4 ,0 0 0 0 %
Source : BNP Par ibas Rea l Es ta te - Research , Ind ia
-
7/29/2019 0od0-Delhi Ncr Market Report q2 2012
10/13
KEY TRANSACTIONS
Source : BNP Par ibas Rea l Es ta te - Research , Ind ia
Q2 201 2
Pr op er t y Occup ier sSpace(sq. f t )
M i c r oM a r k e t
Locat ion
Kon n ect us H it ach i 2 1 ,0 0 0 CBD N ew Del h i
Kon n ect us N at ion a l In sur an ce 2 3 ,0 0 0 CBD N ew Del h i
DLF Sou t h Cour t GAP 4 7 ,0 0 0 Al t er n at e CBD N ew Del h i
Sp azed ge Tow er - B Big Bazaar 4 0 ,0 0 0 PBD Gu r gaon
JM D M egap ol is Con v er gys 1 0 0 ,0 0 0 PBD Gu r gaon
Or ch id Busin ess Par k Vol ksw ogan 2 0 ,0 0 0 PBD Gu r gaon
U n it ech Cyb er Par k E Va l ue Ser v e 2 5 ,0 0 0 PBD Gu r gaon
Asso t ech On e Den av e So f t w ar e In d ia Pv t Lt d 1 2 ,0 0 0 PBD N oid a
Tim e Tow er M er ced es Ben z 3 ,1 0 0 PBD Gu r gaonA- 3 1 Tat a M ot or s 5 2 ,0 0 0 PBD N oid a
For t u n e Tow er s N A 9 ,0 0 0 PBD Gu r gaon
Sp aze IT Par k Cap gem in i 3 6 ,0 0 0 PBD Gu r gaon
Sp aze IT Par k Air cel 2 5 ,0 0 0 PBD Gu r gaon
Ad v an t N av is IBM 3 0 ,0 0 0 PBD N oid a
U n it ech In fosp ace, Tow er- 2 Ar t ech In d ia 2 0 ,0 0 0 PBD N oid a
CITY REPORT - DELHI OFFICE MARKET - Q2 201 2 10
-
7/29/2019 0od0-Delhi Ncr Market Report q2 2012
11/13
CITY REPORT - DELHI OFFICE MARKET - Q2 201 2 11
KEY PROJECTS
New Supp l y - Year 2012
Bu i l d in g Locat ionM i c r o
M a r k e tSpace in
sq. f tCom p l e t i on da t e
(expec ted)
Kon n ect us N ew Del h i CBD 2 0 0 ,0 0 0 Q3 2 0 1 2
DLF Cap i t o l Poin t N ew Del h i CBD 8 0 ,0 0 0 Read y
U n iv er sal Busin ess Par k Go l f cou r se ext en sion PBD 3 0 0 ,0 0 0 Read y
Vat ika Pr o fession al Poin t Go l f cou r se ext en sion PBD 1 6 0 ,0 0 0 Read y
Best ech Par k View Bu sin ess Tow er Soh n a Road PBD 6 5 0 ,0 0 0 Q3 2 0 1 2
M at r ix Tow er N oid a PBD 2 1 5 ,0 0 0 Read y
An sal Cor p or a t e Par k N oid a PBD 1 5 0 ,0 0 0 Q3 2 0 1 2
Pl o t N o.1 2 A N oid a PBD 8 0 ,0 0 0 Read y
Lago Vist a N oid a PBD 1 5 0 ,0 0 0 Read y
Ar ih an t IT Par k N oid a PBD 8 0 ,0 0 0 Read y
Cyb er w a l k (Eco Tow er ) M an esar PBD 2 5 0 ,0 0 0 Q3 2 0 1 2
Par as Tr ad e Cen t r e Gu r gaon - Far id ab ad Road PBD 2 5 0 ,0 0 0 Q3 2 0 1 2
Su n ci t y Tr ad e Tow er Sect or - 2 1 ,Gur gaon PBD 1 7 5 ,0 0 0 Q3 2 0 1 2
Source : BNP Par ibas Rea l Es ta te - Research , Ind ia
-
7/29/2019 0od0-Delhi Ncr Market Report q2 2012
12/13
GLOSSARY
Q2 :
Super Bui l t-up Area (SBUA):
Carpe t Area :
Sq .m t :
M n :
N e w :
Recent:
NCR:
SEZ:
BFSI:
SLR:
FSI:
Q u ar t e r 1 o f t h e f i n a n c i a l y e a r ( Ap r i l - M a y - J u n e)
B u il t - u p a r e a + c o m m o n a r e a i n c l u d i n g l i f t s a r e a, c om m o npassages , u t i l i t i es , te r r ace e tc . & var ies f rom b u i l d ing t o bu i l d in g .
Ac tua l usab le a rea , and does no t i nc l ude any com m on areas , a rea occup ied
b y w a l l s e t c .
S q u a r e M e t e r
M i l l i o n
B u il d i n g b u i l t w i t h i n t h e l a s t 5 y e a r s .
B u il d i n g l e s s t h a n 1 0 y e a r s o l d .
Nat iona l Cap i ta l Reg ion ( Inc ludes urban agg lomera t ion o f De lh i , Gurgaon,
Far idabad, No ida , Gaz iabad e tc )
Spec ia l Economic Zone hav ing spec ia l tax exempt ions / i ncent i ves to corpora te
occup iers
Bank ing & F inanc ia l Serv i ces Indus t r y
S ta tu to r y L iqu id i t y Rat io
F loor Space Index
Ab s o r p t i o n :
Bare She l l :
BPO:
BUA:
Comple ted Stock :
DU :
EPIP:
FAR:
Grade A Space:
Ground Coverage :
H a r d O p t i o n :
INR:
Pre- lease :
Specu la t ive Stock :
Stock :
Supp ly :
Transac t ion Vo lum es :
Vacancy:
W a r m Sh el l :
Q on Q:
y - o - y :
IT :
ITES:
Repo Rate:
Reverse Repo Rate:
SEC A, B, C & D Soci o:
Sq . f t :
S ta m p D u ty :
Occup ied S tock (n ) Occup ied S tock (n -1) ; Where n i s the spec i f i ed
per iod (qu ar te r , year e tc . )
P r e m i s e s co n s i st i n g o f b a s i c s t r u c t u r e w i t h l i f t s , p o w e r s u p p l y t o j u n c t i o nb o x , w a t e r s u p p l y l i n e , t o i l e t s
Bus iness P rocess Outsourc in g
Bu i l t up area
E i ther the bu i l d ing has rece ived occupancy cer t i f i ca te o r the c l i en t
h a s m o v e d i n a n d o c c u p ie d s p a c e a n d s t a r t e d w o r k i n g i n a p a r t i c u l a r p r e m i s e s
D w e l l i n g U n i t
E xp o r t P r o m o t i o n I n d u s t r i a l P a r k
F loor A rea Rat io (BUA/ P lo t A rea)
Of f i ce Space w i th e f f i c iency in excess o f 75%, f l oor p l a te i n excess o f
15 ,000 sq . f t . , Car Park ing ra t i o o f a t l eas t 1 per 1000 sq . f t . , F loor - to -ce i l i ng he igh t i nexcess o f 3 .75 m , Power p rov i s ion o f 1 .25KVA per 100 sq . f t . w i th 10 0% pow er-backup
w h e r e v er a p p l i c a b l e a n d p r o f e ss i o n a l l y m a n a g e d f a c i l it i e sI t i s t h e t o t a l c o v er e d a r e a o n g r o u n d b y t h e b u i l t c o m p o n e n t a n d i s
expressed as a percentage o f the p lo t a r ea
Rea l es ta te space reserved by the lessee fo r fu tu re occupat ion w i th in ap a r t i c u l a r t i m e f r a m e a n d a t a p r e - d e c i d e d r e n t a l
Ind ian Nat iona l Rupees
S p a ce c o m m i t t e d f o r l e a s e b ef o r e c o m p l e t i o n o f c o n s t r u c t i o n
The s tock wh ich can be leased and exc ludes Bu i l t - to - Su i t (BTS) andCampus fac i l i t i es .
Cu m u l a t i v e S u p p l y
N e w c o n s t r u c t i o n i n a p a r t i c u l a r s p e c i fi e d p e r i o d
To t a l n u m b e r o f t r a n s a c t i on i n a p a r t i c u l a r s p e c i f i ed p e r i o d
To t a l v a c a n t s p a c e i n t h e c o m p l e t e d s t o c k
Premises cons is t i ng o f pow er backup, h igh s ide A .C ., com m on area f i t ou t s
a n d f i t t e d o u t t o i l e t s
Q u a r t e r o n Q u a r t e r
y e a r - o n - y e a r ( A l l g r o w t h f i g u r e s i n t h i s r e p o r t a r e y - o - y u n l e s s o t h e r w i s em e n t i o n e d
I n f o r m a t i o n Te c h n o l o g y
In fo rm at ion Techno logy Enab led Serv i ces ( i nc lud es var ious serv i ces rang ing f rom
ca l l cen t r es , c la im s process ing , m ed ica l t ran sc r ip t i on , e -CRM , SCM to back -o f f i ce
opera t ion s such as account ing , da ta p rocess ing , and da ta min ing)
Ra t e t h a t a n e l i g i b l e d e p o s it o r y i n s t i t u t i o n ( s u c h a s a b a n k ) i s c h a r g e d t ob o r r o w s h o r t t e r m f u n d s d i r e ct l y f r o m t h e c en t r a l b a n k t h r o u g h t h e d i s co u n t w i n d o w
I n t e r e s t r a t e t h a t a b a n k e a r n s f o r l e n d i n g m o n e y t o t h e R e se r v eBank o f Ind ia i n exchange fo r governm ent secur i t i es
Economic C lass i f i ca t i on ; SEC A represents th e h ighes t p ropens i t y
t o s p e n d a n d S EC D r e p r e se n t s t h e l o w e s t p r o p e n s i t y t o s p e n d .
Square Feet
F o r m o f t a x c h a r g e d o n i n s t r u m e n t s ( w r i t t e n d o c u m e n t s ) r e q u i r i n g a
p h y s i c al s t a m p ( f o r g o v er n m e n t l e g a l i t y ) t o b e a t t a c h e d t o o r i m p r e s s ed .
CRR:
H e a d l i n e r e n t :
Average head l ine ren t :
D isc la imer :
Cash Reserve Rat io
M o n t h l y r e n t p e r s q u a r e f e e t , ch a r g e d o n s u p e r b u i l t - u p a r e a b a s i s ,fea tured on the lease, and expressed exc lud ing f i tou ts , taxes , depos i ts , advances ,
m a i n t e n a n c e c h a r g e s a n d d o e s n o t t a k e i n t o a c c o u n t b u i l d i n g e f f i c ie n c y ( s u p er b u i l t u p
a r e a - c a r p e t a r e a r a t i o ) . Fu r t h e r i t d o e s n o t i n c l u d e a t t a c h e d p r e m i s es s u c h a s p a r k i n gareas , a rch ives , s ta f f can teens , e tc . I f the ren t a l i s p rogr ess ive , th e va lue app l i ed i s the
a v e r a g e fo r t h e f i r s t 3 y e a r s o r t h e f i x e d t e r m o f t h e l e a s e .
Weighted average o f ren ted area . The average fea tured i s amov ing average over the quar te r , to smooth ou t the changes , exc lus i ve o f a l l taxes ,
depos i ts , advan ces & main t enance charges .
M a j o r Re fu r b i sh m e n t :
Renova ted :
M o d e r n :
O ld :
CCI (Cos t o f cons t ruc t ion index ) :
D e m a n d :
For the occup ie r :
N e w Su p p l y :
Co m p l e te d n e w s u p p l y :
U n d e r c o n s t r u c t i o n :
P l a n n i n g p e r m i s s i o n g r a n te d :
P l a n n i n g p e r m i s s i on s u b m i t t e d :
P r e - l e t t i n g :
U n d e r l y i n g r e n t :
P r i m e r e n t s :
Top ren t :
Second hand p rem ises:
Very good cond i t ion :
Ex ist ing s ta t e o f repa i r :
To be renova t ed :
Sup p l y a v a i l a b l e w i t h i n 1 y e a r :
Take-up:
Vacancy ra te :
B u il d i n g w h i c h h a s u n d e r g o n e s t r u c t u r a l a l t e r a t i o n l e s s t h a n 5years ago, sub jec t to p lann ing perm iss ion .
.
B u il d i n g w h i c h h a s u n d e r g o n e r e n o v a t i on w o r k n o t r e q u i r i n g f o r p l a n n i n g
p e r m i s s i o n l e s s t h a n 5 y e a r s a g o .
H i g h - p e r f o r m a n c e b u i l d i n g o v er 1 0 y e a r s o l d .
L o w - p e r f o r m a n c e b u i l d i n g o v er 1 0 y e a r s o l d .
I n d e x t h a t m a k e s q u a r t e r l y m e a s u r e m e n t s o f
c o n s t r u c t i o n p r i c e s f or n e w h o u s e b u i l d i n g . I t i s t h e p r i c e a f t e r V AT p a i d b y t h e o w n e r t oc o n s t r u c t i o n c o m p a n i e s . I t e x cl u d e s l a n d - r e l a t e d p r i c e s a n d c o s t s ( s it e d e v e l o p m e n t ,
spec ia l foundat ions , e tc .) , fees and f i nan c ia l cos ts .
A search fo r p remises expressed to BNP Par ibas Rea l Es ta te . The ana lys i sp e r t a i n s o n l y t o t h e f l o w o f n e w d e m a n d e x p r e s se d .
O p er a t i o n u n d e r t a k e n b y a n o c c u p ie r f o r i t s o w n p u r p o s e s.
A n y n e w b u i l d i n g a n d / o r h e a v i l y r e f u r b i s h e d b u i l d i n g t h a t a d d s t o t h eex is t i ng s tocks . These are ana lysed accord ing t o p rogress .
B u il d i n g s o n w h i c h c o n s t r u c t i o n w o r k i s f i n i s h e d .
Bu i ld ings on wh ich cons t ruc t i on has e f fec t i ve l y begun. P r io rd e m o l i t i o n w o r k i s n o t t a k e n i n t o a c c ou n t .
A u t h o r i sa t i o n t o b u i l d o b t a i n e d , g e n e r a l l y b o o k e d a f t e r
s e t t l e m e n t o f t h i r d p a r t y c l a i m s .P lann in g permiss ion reques ted , be ing processed.
Tr a n s a c t i o n b y a n o c c u p ie r m o r e t h a n 6 m o n t h s b e f o r e t h e d e l i v e r y o f t h e
b u i l d i n g .
An n u a l r e n t p e r s q u a r e m e t e r e x p r e ss e d f r e e o f t a x a n d c h a r g e s a n de x cl u d i n g a d v a n t a g e s a g r e e d b y t h e o w n e r s ( r e n t i n c e n t i v e b u i l d i n g w o r k s , e t c ) .
Re p r e s en t s t h e t o p h e a d l i n e r e n t ( e x cl u d i n g n o n s i g n i f i ca n t t r a n s a c t i o n s )
fo r an o f f i ce un i t : - o f s tand ard s i ze , o f the h ighes t qua l i t y and spec i f i ca t i on , i n the bes tl o c a t i o n i n e a ch m a r k e t .
Represent s the top head l in e ren t fo r an o f f i ce un i t . I t i s no t necessar i l y a p r im e
r e n t .
P remises tha t have been prev ious ly occup ied by an occup ier fo r
v a c a n t f o r m o r e t h a n 5 y e a r s .
H i g h - p e r f o r m a n c e p r e m i s e s o f h i g h q u a l i t y.
L o w - p e r f o r m a n c e p r e m i s e s t h a t c a n b e r e n t e d a s t h e y a r e .
L o w p e r f o r m a n c e p r e m i s e s t h a t n e e d r e n o v a t i o n .
A l l p r e m i s e s a n d b u i l d i n g s a v a i l a b l e w i t h i n 1 y e a ri n c l u d i n g t h e s u p p l y a v a i l a b l e i m m e d i a t e l y, n e w s u p p l y t h a t h a s n o t b e e n p r e - l e t a n d
s e co n d h a n d s u p p l y t h a t w i l l b e v a c a t e d d e f i n i t i v el y ( n o t a b l e t e r m i n a t e d l e a s es ) .
Renta l o r sa le o f a p roper t y asset , f i na l i sed by th e s ignature o f a l ease or a b i l lo f s a l e i n c l u d i n g t u r n k e y t r a n s a c t i o n s a n d o w n e r - o c c u p ie r. T h e t r a n s a c t i o n i s o n l y
taken in to account once any ex i s t i ng cond i t i ona l c lauses have been l i f ted .
R a t i o m e a s u r i n g t h e r e l a t i o n s h i p b e t w e e n t h e s u p p l y i m m e d i a t e l yava i l ab l e and the ex i st i ng s tock .
Th is repor t i s re leased by BNP Par ibas Rea l Es ta te & In f ras t r uc ture Adv isory
Serv i ces and the in fo rmat ion in i t i s ded ica ted to the exc lus i ve use o f i t s c l i en ts . Ther e p o r t a n d t h e i n f o r m a t i o n c o n t a i n e d i n i t s h o u l d n o t b e c o p i e d o r r e p r o d u c ed w i t h o u t
pr io r permiss ion f rom BNP Par ibas Rea l Es ta te and In f ras t ruc ture Adv isory Serv i ces .
T h e f a c t s o f t h e s e r e p o r t s a r e b e l i e ve d t o b e c o r r e c t a t t h e t i m e o f i t ' s r e l e a se b u t c a n n o tb e g u a r a n t e e d . P l e a s e n o t e t h e f i n d i n g s , p r o j e c t i o n s , c o n c l u s i o n s a n d
r e c o m m e n d a t i o n s a r e b a s e d on i n f o r m a t i o n g a t h e r e d in g o o d f a it h f r o m b o t h p r i m a r y
a n d s e c o n d a r y s o u r c e s, w h o s e a c c u r a c y w e a r e n o t a l w a y s i n a p o s i t i on t o g u a r a n t e e .BNP Par ibas Rea l Es ta te & In f ras t r uc ture Adv isory Serv i ces cann ot be he ld r espons ib le
i f , d e s p i t e i t ' s b es t e f f o r t s , t h e i n f o r m a t i o n c o n t a i n e d i n t h e p r e s e n t r e p o r t t u r n s o u t t o
b e i n a c c u r a t e o r i n c o m p l e t e .
CITY REPORT - DELHI OFFICE MARKET - Q2 201 2 12
-
7/29/2019 0od0-Delhi Ncr Market Report q2 2012
13/13
POLAND
Al. Jana Paw la I I 250 0 -8 5 4 W a rsa w
Tel .: +48 22 653 44 0 0Fax: +48 22 653 44 01
ROM ANIAU n i o n I n t e rn a t i o n a l Ce n t e r
1 1 I o n C a m p i n e a n u S t re e t6th f l oor, 1st d i s t r i c t
B u ch a re st 0 1 0 0 3 1Tel : +40 21 31 2 7000
Fax: +40 21 312 7001
SPAINM a r a d e M o l i n a , 5 4
2 8 0 0 6 M a d r i d
Tel : +34 91 45 4 96 00Fax: +34 91 454 97 65
UNITED KINGDOM5 A l d e rm a n b u ry S q u a reLondon EC2V 8HR
Tel .: +44 20 7338 40 00Fax: +44 20 7430 2628
ALBANIA
AUSTRIA
BULGARIA
CYPRUS
GREECE
JAPAN
NETHERLANDS
NORTHERN IRELAND
RUSSIA
SERBIA
SLOVAKIA
SWITZERLAND
TURKEY
UKRAINEUSA
ABU DHABIAl Bateen Area
Plot No. 144, W-11N e w A l B a t e e n M u n i c i p a l i t y
St reet No. 32P.O. Box No. 2742
Abu Dhabi , UAETel .: +971 505 573 0 55
F a x : + 9 7 1 4 4 2 5 7 8 1 7
BELGIUM
Boulevard LouisS ch m i d t l a a n 2 B 3
1040 BrusselsTel : +32 2 290 59 59
Fax: +32 2 290 59 69
CZECH REPUBLICPob eni 3
1 8 6 0 0 P ra g u e 8
Tel .: +420 224 835 0 00F a x : + 4 2 0 2 2 2 3 2 3 7 2 3
DUBAI
E m a a r S q u a reBui ld ing No. 1 , 7 th F loor
P.O. Box 7233Tel : +971 44 28 505 573 055
F a x : + 9 7 1 4 4 2 5 7 8 1 7
FRANCE
167, Quai de la Bata i l l ed e S t a l i n g ra d
9 2 8 6 7 I ssy - l e s -M o u l i n e a u xTel : +33 1 55 6 5 20 04
Fax: +33 1 55 6 5 20 00
GERM ANY
G o et h e p l a t z 46 0 3 1 1 F ra n k f u r t
Te l .: +49 69 2 9 8 99 0Fax: +49 69 2 9 2 91 4
HUNGARY
Alkotas u. 53.
H -1 1 2 3 B u d a p e st ,Te l .: +36 1 487 5501
Fax: +36 1 487 5542
IRELAND2 0 M e r r i o n R o a d , B a l l sb r i d g e,
D u b l i n 4Tel : +353 1 66 1 1 233
Fax: +353 1 67 89 981
ITALY
Corso I ta l i a , 15/A
2 0 1 2 2 M i l a nTel : +39 02 58 3 3 141Fax: +39 02 58 33 14 25
LUXEMBOURG
Axento Bui ld ingAvenue J.F. Kenned y 44
1 8 5 5 L u xe m b o u rgTel .: +352 34 94 84
Fax: +352 34 9 4 73
JERSEY
3 F loor, D ia logue House2-6 Anley St reet
St Hel ier, Jersey JE4 8RD
Tel .: +44 (0)1 534 62 9 001Fax: +44 (0)1 534 629 011
INDIA
BNP PARIBAS REAL ESTATE& INFRASTRUCTURE ADVISORYSERVICES PVT. LTD.
M AIN LOCATION S OTH ER LOCATION S
USA
For Quer ies / Com m ent s em ai l at :
in fo . ind ia@bnppar ibas.com
Non
contra
ctualdocum
ent-Research
departm
ent
M
arch
2012.
Photo
courtesy
:Vighneshw
ara
Developers.
BNP
Pariba
sRealEstate:Sim
plified
jointstockcom
panyw
ith
capitalof329
196
608
-692
012
180
RCS
Nanterre-CodeNAF4110B
-CE
ident
ification
num
ber:FR
666
920
121
80
Headquart
ers:167,
Quaidela
BatailledeStalingrad
-92867
IssyLesM
oulineauxCedex-BNP
ParibasRealEstateispartoftheBNP
ParibasBankingGroup.
www.rea les ta te .bnppar ibas .co . in
M U M B A I21, 2nd F loor, 1 North Avenue,M a ke r M a x i t y , Ba n d ra (E ) ,M u m b a i - 4 0 0 0 5 1T el : + 9 1 2 2 3 3 7 0 4 1 6 2Fax: +91 22 3370 4166
DELHIU p p e r g ro u n d f l o o r , U n i t N o 7 ,M e rca n t i l e H o u se , 1 5 K G M a rg ,N e w D e l h i 1 1 0 0 0 1T el : + 9 1 1 1 4 9 5 9 8 8 0 0Fax: +91 11 4959 8818
BANGALORE704, Level 7 , Raheja Param ount ,
#1 38, Residency Road,B a n g a l o re 5 6 0 0 2 5T el : + 9 1 8 0 3 3 2 4 0 3 0 0Fax: +91 80 3324 0333
CHENNAIRegus Cit i CentreLevel 6 , Chennai C i t i Cent re ,10/11, Dr. Radhakr i shnan Sala i ,C h e n n a i - 6 0 0 0 0 4T el : + 9 1 4 4 4 2 2 1 8 6 5 1Fax: +91 44 4221 8222