Micro Market INR US $(Rents Per Sq.Ft/Month)

% Change(Q-o-Q) (Y-o-Y)

DELH

I

Connaught Place 175 - 450 2.8 - 7.3 -2% -12%

Nehru Place 175 - 225 2.8 - 3.6 0% 8%

Saket 160 -190 2.6 - 3.1 6% 2%

Jasola 95 - 130 1.5 - 2.1 2% -7%

GURG

AON

MG Road 95 - 135 1.5 - 2.2 -2% -4%

Golf Course Road 90 - 140 1.5 - 2.3 2% 18%

NH8 50 - 125 0.8 - 2.0 0% 0%

DLF Cyber City 78 - 80 1.3 - 1.3 0% 5%

Golf Course Rd Ext/Sohna Rd 50 - 65 0.8 - 1.1 2% 2%

NOID

A

Commercial Sectors* 95 - 100 1.5 - 1.6 -5% 0%

Institutional Sectors** 50 - 90 0.8 - 1.5 0% 5%

Industrial Sectors*** 18 - 48 0.3 - 0.8 5% 20%

Client Building Name Area (Sq.Ft)

Location Lease/Sale

Moser Baer Okhla Ph-3 70,000 Delhi Lease

VFS Global Bharti World Mark 70,000 Delhi Sale

InterGlobe Enter-prises

DLF Corporate Park Building 3B 37,000 Gurgaon Sale

Coke Hines One Horizon 60,000 Gurgaon Lease

Media Tek S B Tower 30,000 NOIDA Lease

RDB Insurance A-31 108,000 NOIDA Lease

OFFICE RENTAL INSIGHT

GRADE A RENTAL VALUES

Average Rental Trends for Grade A Properties

Supply, Absoprtion and Vacancy Trends

For Office Services related queries, contact: For research related queries, contact: Ajay Rakheja | Director | Office Services Surabhi Arora | Associate Director | Research ajay.rakheja@colliers.com | 0124 - 4567537 surabhi.arora@colliers.com | 0124 - 4567580

DISCLAIMER This document has been prepared by Colliers International for general information only. Colliers International does not guarantee warrant or represent that the information contained in this document is correct. Any interested party should undertake their own enquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damage arising directly or indirectly there-from.

INDIA | NCR | APRIL 2014

MARKET TRANSACTIONS

Note: 1 US$= INR 61.72 (Average: 1st Jan - 31st Mar,2014)

Above graph represents both Non IT and IT Grade A propertiesAbove table represents indicative transactions during 1Q 2014.

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* Sector 18**Sector 16A, 62, 125-142***Sector 124, 57-60, 63-75

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New Supply (In MN SF) Absorption (In MN SF) Vacancy (In %)

2008 2009 2010 2011 2012 2013 2014F 2015F

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2008 2009 2010 2011 2012 2013 2014F 2015F

Delhi Gurgaon NOIDA

Forecast

Average rental trends in INR Per Sq.Ft./Month