Colliers International India Rental Insight Q4...

Mumbai

Average Rental Trend2

Supply, Absorption & Vacancy Trends1

1 Rental range of Grade A non IT/ITeS buildings only2 $US= INR 63.93 (US Dollar rate as on 31/12/2017)3 CBD - Nariman Point, Ballard Estate & Fort, JVLR - Jogeshwari-Vikhroli Link Road, LBS

- Lal Bahadur Shastri Marg (Rental range adjusted in April 2017 to accommodate Off

LBS locations)4 Indicative transactions concluded during Q4 2017

1 Graph represents both Non IT/ITeS and IT/ITeS Grade A properties2 Graph represents rental trends of Grade A non IT/ITeS buildings only

Market Transactions4

ClientBuilding

Name

Area

(sq ft)Location

Transact

ion Type

TCS

Godrej

Factory

Campus

250,000 Vikroli Lease

Teva Pharma Seawoods 125,000Navi

MumbaiLease

CoWorksBirla

Centurion95,000 Worli Lease

RosneftGodrej

BKC 70,000 BKC Lease

Ajanta

Pharma Ltd.

Satellite

Gazebo22,000

Andheri

EastLease

Grade A Rental Values1

Micromarkets INR $US2 Percentage

Change

Per sq ft/Month QOQ YOY

CBD3 200 - 250 3.1 - 3.9 0.0% 0.0%

Worli/Prabhadevi 170 - 210 2.7 - 3.3 0.0% -2.6%

Lower Parel 140 - 195 2.2 – 3.1 0.0% 0.0%

BKC 225 - 330 3.5 - 5.2 0.0% 1.8%

Kalina 150 - 180 2.4 - 2.8 3.1% -10.8%

Goregaon/JVLR3 100 - 130 1.6 - 2.0 0.0% -4.2%

Andheri East 90 - 130 1.4 - 2.0 0.0% 0.0%

Malad 80 - 100 1.3 - 1.6 0.0% 0.0%

Powai 110 - 130 1.7 - 2.0 0.0% -2.0%

Navi Mumbai 70 - 100 1.1 - 1.6 0.0% 0.0%

Thane 70 - 80 1.1 - 1.3 0.0% -6.3%

LBS3 95 - 125 1.5 – 2.0 4.8% -8.3%

Rental Insight

Q4 2017

India | Office06 Feb, 2018

Copyright © 2018 Colliers International.

Disclaimer - The information contained herein has been obtained from sources deemed reliable. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee

it. No responsibility is assumed for any inaccuracies. Readers are encouraged to consult their professional advisors prior to acting on any of the material contained in this report.

For Office Services contact

Ravi Ahuja

Senior Executive Director | Mumbai & Developer

Services

[email protected]

Ritesh Sachdev

Senior Executive Director Occupier Services | India

[email protected]

For research related information contact

Surabhi Arora

Senior Associate Director | Research | India

[email protected]

Tel: +91 98 7175 0808

Indiabulls Finance Centre,

17th Floor, Unit No. 1701,

Tower 3

Senapati Bapat Marg,

Elphinstone (W) | Mumbai -

400013 | India

0%

5%

10%

15%

20%

0.0

2.0

4.0

6.0

8.0

10.0

2010 2011 2012 2013 2014 2015 2016 2017 2018F2019F2020F

Absorption (In Mn sqft) New Supply (In Mn sqft)

Vacancy (In %)

Forecast

130

135

140

145

150

155

160

165

170

2010 2011 2012 2013 2014 2015 2016 2017 2018F 2019F 2020F

Forecast

-

40

80

120

160

200

2010 2011 2012 2013 2014 2015 2016 2017 2018F 2019F 2020F

Delhi Gurgaon Noida

Forecast

0%

5%

10%

15%

20%

25%

30%

35%

0

2

4

6

8

10

12

Absorption (In Mn sqft) New Supply (In Mn sqft)

Vacancy (In %)

Forecast

Delhi NCR



1 Rental range of both Non IT/ITeS and IT/ITeS Grade A properties2 $US= INR 63.93 (US Dollar rate as on 31/12/2017)3 *Connaught Place, 4Sector 18, 5Sector 16 A,62,125,126,127,132,135,136,142,143,144,

153,154 , 6Sector 1-9,57-60, 63-65 7 Indicative transactions concluded during Q4 2017

1 Graph represents both Non IT/ITeS and IT/ITeS Grade A properties2 Graph represents rental trends of both Non IT/ITeS and IT/ITeS Grade A

properties


Client Building NameArea

(sq ft)Location

Transaction

Type

KPMG Cyber City 71,000 Gurugram Lease

Bestway

ConsultingSpaze Boulevard 70,000 Gurugram Lease

Mitsui Bharti Worldmark 60,000 Delhi Lease

AccentureBrookfiled

Infospace50,000 Gurugram Lease

Fab Hotels Individual Building 30,000 Gurugram Lease






Change


DELHI

CBD3 140 – 425 2.1 - 6.5 0.0% 4.6%

Nehru Place 150 – 200 2.3 - 3.1 0.0% -9.1%

Saket 110 – 180 1.7 - 2.6 0.0% -9.1%

Jasola 80 – 115 1.2 - 1.7 0.0% -2.5%

GURGAON

MG Road 105 – 135 1.6 - 2.1 0.0% -2.0%

DLF Cyber City (IT) 115 – 120 1.7 - 1.9 0.0% 2.0%

Golf Course Rd 110 – 220 1.7 - 3.0 0.0% 9.0%

Institutional Sectors

(Sector 44,32,18)60 – 90 0.9 - 1.4 0.0% 0.0%

Golf Course Road Ext/

Sohna Road55 – 80 0.8 - 1.2 1.0% -3.0%

National Highway 8 50 – 130 0.8 - 2.0 -6.0% -6.0%

Udyog Vihar 50 – 70 0.7 – 1.0 0.0% 7.0%

NOIDA

Commercial Sector4 75 – 105 1.1 - 1.7 -2.7% 0.0%

Institutional (Non IT)5 75 – 95 1.2 - 1.5 0.0% -5.6%

Institutional (IT)5 45 – 80 0.7 – 1.2 0.0% 8.7%

Industrial (IT)6 35 - 45 0.5 - 0.8 -1.2% -1.2%

Technopolis Building, 1st

Floor, DLF Golf Course Road

Sector 54 | Gurgaon - 122002 |

India


Sanjay Chatrath

Executive Director | NCR

[email protected]

Vineet Anand

Director | Office Services | NCR

[email protected]

Ritesh Sachdev

Senior Executive Director

Occupier Services | India

[email protected]

Rental Insight

Q4 2017



Surabhi Arora

Senior Associate Director | Research |

India

[email protected]

Tel: +91 98 7175 0808

Bengaluru (Bangalore)


ClientBuilding

Name

Area

(sq ft)Location

Transaction

Type

Siemens

Gold Hill

Supreme Tech

Park

600,000Electronic

CityLease

Anthem IncManyata

Embassy Park477,000

Outer Ring

RoadLease

Synechron Bhartiya City 400,000 North Lease

AtosRMZ

Centennial279,000

WhitefieldLease

Cargil

Prestige

Cessna

Business Park250,000

Outer Ring

RoadLease



Change


CBD3 110 - 190 1.7 – 2.7 7.1% 25.0%

Outer Ring Road

(Sarjapur-Marathahalli)80 – 90 1.2 – 1.3 6.3% 9.7%

Outer Ring Road

(K.R. Puram – Hebbal)70 - 85 1.1 – 1.3 3.3% 9.2%

Bannerghatta Road 60 - 85 0.9 – 1.1 16.0% 17.9%

Hosur Road 32 – 42 0.5 – 0.6 5.7% 5.7%

EPIP Zone/ Whitefield 35 - 45 0.6 – 0.7 0.0% 11.1%

Electronic City 35 – 45 0.5 – 0.6 14.3% 17.6%

Accelerating

Success


Goutam Chakraborty

Senior Director | Office Services | Bengaluru

[email protected]

Ritesh SachdevSenior Executive Director Occupier Services | India

[email protected]

Prestige Garnet, Level 2,

Unit No. 201/202

36 Ulsoor Road

Bengaluru - 560042 | India

1 Rental range of both Non IT/ITeS and IT/ITeS Grade A properties2 $US= INR 63.93 (US Dollar rate as on 31/12/2017)3 CBD – MG Road, Vittal Mallaya Road4 Indicative transactions concluded during Q4 2017



1 Graph represents both Non IT/ITeS and IT/ITeS Grade A properties2 Graph represents rental trends of both Non IT/ITeS and IT/ITeS Grade A properties excluding

Special Economic Zones (SEZs)




Rental Insight



Surabhi Arora


[email protected]

Tel: +91 98 7175 0808

0%

5%

10%

15%

20%

25%

0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

2010 2011 2012 2013 2014 2015 2016 2017 2018F 2019F 2020F

New Supply (In Mn sqft) Absorption (In Mn sqft) Vacancy (In %)

Forecast

0

20

40

60

80

100

2010 2011 2012 2013 2014 2015 2016 2017 2018F 2019F 2020F

Forecast

0%

5%

10%

15%

20%

25%

0.0

2.0

4.0

6.0

20

10

20

11

20

12

20

13

20

14

20

15

20

16

20

17

20

18

F

20

19

F

20

20

F

New Supply (In Mn sqft) Absorption (In Mn sqft)

Vacancy (In %)

Forecast

Chennai

30

40

50

60

70

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018F2019F2020F

Forecast

1 Rental range of Grade A IT/ITeS buildings only (Non SEZ)2 $US= INR 63.93 (US Dollar rate as on 31/12/2017)3 Nungambakkam, Nandanam, Teynampet, RK Salai, Alwarpet, Egmore, T Nagar, Chetpet4 Anna Nagar, Kilpauk, Nelson Manikam Road, Vadapalani, Guindy, MRC Nagar, Adyar5 Grand Southern Trunk Road6 Mount-Poonamallee High Road7 Old Mahabalipuram Road Pre-Toll (Madhya Kailash – Perungudi)8 Old Mahabalipuram Road Post-Toll (Thoraipakkam to Sholinganallur; Semmencherry to

Siruseri)9 Indicative transactions concluded during Q4 2017


ClientBuilding

Name

Area

(sq ft)Location

Transaction

Type

BNY mellonDLF

Cybercity188,000 Manapakkam Lease

MphasisDLF


NokiaPacifica

Tech Park115,000 Navalur Lease

SmartworksArihant

Verge85,000 Perungudi Lease

BarclaysDLF



Micromarkets INR $US2 Percentage Change


CBD3 70 – 90 1.1 - 1.4 0.0% 0.0%

Off CBD4 60 – 75 0.9 – 1.2 0.0% 0.0%

GST Road5 35 – 45 0.5 - 0.7 0.0% 0.0%

MPH Road6 50 – 65 0.8 - 1.0 0.0% 0.0%

OMR-Pre Toll7 55 – 78 0.9 - 1.2 0.0% 10.8%

OMR-Post Toll8 30 – 40 0.5 - 0.6 0.0% 0.0%

Ambattur 30 – 45 0.5 - 0.7 0.0% 0.0%


1 Graph represents both Non IT/ITeS and IT/ITeS Grade A properties 2 Graph represents rental trends for both Non IT/ITeS and IT/ITeS Grade A properties excluding

Special Economic Zones (SEZs)





Shaju Thomas

Director | Office Services | Chennai

[email protected]

Ritesh Sachdev

Senior Executive Director | Occupier Services | India

[email protected]

7th Floor, Infinite Tower I A

21-22,

Thiru-Vi-Ka Industrial Estate

Guindy| Chennai - 600032 |

India



Surabhi Arora


[email protected]

Tel: +91 98 7175 0808

Rental Insight

Q4 2017


Hyderabad


ClientBuilding

Name

Area

(sq ft)Location

Transaction

Type

DeloitteMeenakshi

Tech1,400,000 Hitech City Lease

Qualcomm

Mindspace

Building

No 7

200,000 Hitech City Lease

InfosysMantri

Casmos50,600 Gachibowli Lease

DupontAscendas

Atria45,000 Hitech City Lease

SmartworksPurva

Summit40,000 SBD Lease



Change


CBD3 45 – 50 0.7 - 0.8 0.0% 0.0%

Off CBD4 45 – 50 0.7 - 0.8 0.0% 0.0%

SBD5 58 – 65 0.9 – 1.0 2.5% 7.0%

PBD6 25 - 30 0.4 - 0.5 0.0% 0.0%


Hari Prakash

Senior General Manager | Office Services | Hyderabad

[email protected]

Ritesh Sachdev


[email protected]

Rental Insight

Q4 2017

India | Office

06 Feb, 2018

1 Rental range of Grade A IT/ITeS buildings only2 $US= INR 63.93 (US Dollar rate as on 31/12/2017)3 CBD – Banjara Hills Road No.1,2, 10 and 124 Off CBD – Begumpet, Somajiguda5SBD – Madhapur including HITEC City, Gachibowli, Nanakramguda, Manikonda

and Raidurg, Kondapur6 PBD – Pocharam, Uppal and Shamshabad7Indicative transactions concluded during Q4 2017



1 Graph represents both Non IT/ITeS and IT/ITeS Grade A properties2 Graph represents rental trends of both Non IT/ITeS and IT/ITeS Grade A properties

Level 7, Maximus Towers

Building 2A,

Mindspace Complex

HITEC City

Hyderabad - 500081 | India




0%

10%

20%

30%

40%

50%

0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

2011 2012 2013 2014 2015 2016 2017 2018F 2019F 2020F

New Supply (In Mn sqft) Absorption (In Mn sqft)Vacancy (In %)

Forecast


Surabhi Arora


[email protected]

Tel: +91 98 7175 0808

20

30

40

50

60

2011 2012 2013 2014 2015 2016 2017 2018F 2019F 2020F

Forecast

Pune



1 Rental range of both Grade A IT/ITeS and non IT/ITeS buildings 2 $US= INR 63.93 (US Dollar rate as on 31/12/2017)3 Indicative transactions concluded during Q4 2017

1 Graph represents both Grade A IT/ITeS and non IT/ITeS buildings2 Graph represents rental trends of both Grade A IT/ITeS and non IT/ITeS buildings


ClientBuilding

Name

Area

(sq ft)Location

Transaction

Type

Northern TrustEON Phase 2

- Tower- A450,000 Kharadi

Pre-

commitment

realised

LupinQuantum

Towers142,000 Hinjewadi- 1 Lease

FIS Solutions

India (Sungard)

Westend

Centre41,000 Aundh Lease

Konecranes India SP Infocity 38,000 Phursungi Lease

Magna Steyr India Om Chamber 38,800Bhosari-

MIDCLease


Micromarkets INR $US2 Percentage Change


Baner 57 - 65 0.8 – 1.0 0.0% 8.0%

Bund Garden 55 - 70 0.9 - 1.1 0.0% 0.8%

Airport Rd/Pune

Station65 – 90 0.9 - 1.4 3.3% 3.3%

Aundh 60 – 65 0.8 – 1.0 4.2% 9.6%

Senapati Bapat Rd 65 – 125 1.0 - 1.7 2.7% 8.6%

Bavdhan 45 – 50 0.6 - 0.8 0.0% 6.7%

Kalyani Nagar 55 – 65 0.8 - 1.0 2.6% 2.6%

Nagar Road 55 – 65 0.8 - 1.0 0.0% 2.6%

Hinjewadi 44 – 55 0.7 - 0.9 1.0% 1.0%

Hadapsar/Fursungi 68 – 75 0.9 - 1.1 2.1% 12.6%

Kharadi 55 - 110 0.8 - 1.4 8.6% 14.6%

Rental Insight

Q4 2017






Rishav Vij

Director | Office Services | Pune

[email protected]

Ritesh Sachdev


[email protected]


Surabhi Arora

Senior Associate Director | Research

India

[email protected]

Tel: +91 98 7175 0808

5th Floor, Suyog Platinum,

Naylor Road, Off Mangaldas

Road Pune 411 001

Maharashtra | India

0%

5%

10%

15%

20%

25%

0.0

1.0

2.0

3.0

4.0

5.0

6.0

2010 2011 2012 2013 2014 2015 2016 2017 2018F 2019F 2020F

Absorption (In Mn sqft) New Supply (In Mn sqft) Vacancy (In %)

Forecast

30

40

50

60

70

80

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018F 2019F 2020F

Forecast

Kolkata



1 Rental range of both Non IT/ITeS and IT/ITeS Grade A properties

2 $US= INR 63.93 (US Dollar rate as on 31/12/2017)

3 CBD - Park Street, Camac Street, Chowranghee Road, AJC Bose Road, SBD - EM

Bypass, Topsia, Ruby, PBD- Salt Lake, New Town, Rajarhat

4 Indicative transactions concluded during Q4 2017

1 Graph represents both Non IT/ITeS and IT/ITeS Grade A properties

2 Graph represents rental trends both Non IT/ITeS and IT/ITeS Grade A properties



Change


CBD3 80 - 110 1.2 - 1.8 0.0% -5.0%

SBD3 60 - 70 0.9 - 1.1 0.0% 0.0%

Sector V 38 – 50 0.6 - 0.8 6.0% 4.0%

PBD3 34 - 36 0.4 - 0.5 1.0% -1.0%

Rental Insight

Q4 2017






Surabhi Arora

Senior Associate Director | Research

India

[email protected]

Tel: +91 98 7175 0808

PS Srijan Corporate Park, 14th Floor,

GP-2, Block EP & GP, Salt Lake,

Sector V, Kolkata 700091, India


Shubho Routh

Director | Office Services | Kolkata

[email protected]

Ritesh Sachdev


[email protected]

0%

5%

10%

15%

20%

25%

30%

35%

40%

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

2010 2011 2012 2013 2014 2015 2016 2017 2018F2019F2020F

New Supply (In Mln sqft) Absorption (In Mln sqft)

Vacancy (In %)

Forecast


ClientBuilding

Name

Area

(sq ft)Location

Transaction

Type

IKF

Technologie

s

Megatherm 30,000 Sec V Lease

Sun

KnowledgeMegatherm 30,000 Sec V Lease

Nomura

Capital

Srijan

Corporate

park

24,000 Sec V Lease

ABB

Bengal

Intelligent

park

18,000 Sec V Lease

ARW Ecospace 16,000New

TownSale

40

50

60

70

80

2010 2011 2012 2013 2014 2015 2016 2017 2018F 2019F 2020F

Forecast

Colliers International India Rental Insight Q4...

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