Godrej Properties plans to launch 15 projects in 2012-13. Anticipating the revival of demand from buyers, the company plans to focus on the residential segment rather than the commercial office space.
According to a global property services research company DTZ India, Bangalore’s office space absorption has slackened. Across micro-markets, only the central business district (CBD) in and around MG Road in the Garden City saw a marginal increase in absorption. And of these, IT and engineering firms accounted for 50 per cent and 32 per cent of the absorption respectively, followed by minor contributions from companies in consulting, healthcare, telecom and banking financial services and insuranc
In Bangalore, global technology firm Honeywell Technology Solutions (HTS) is taking up a million sq ft of office space, making it the second-biggest office leasing deal in the country in the last two years. At 48 per sq ft, Honeywell Technology Solutions will pay an annual rental of close to Rs 58 crore for the office space in RMZ's special economic zone, RMZ Ecoworld, people familiar with the transaction said.
In the second half of 2013, demand for office space is expected to be strengthened by finance companies. Also, more new space is expected to be leased out in the next 12 months as rents are likely to increase thereafter.