Property rents go up 100% in Gurgaon
The MCD drive is forcing companies to flee from Delhi to Gurgaon. The move has shot up commercial A-grade real estate rentals by almost 100% in the suburb. Prime A-grade space in the Capital has also shot by up to 66%, whereas prices in Noida, which has less A-grade space available, are relatively stable.
DTZ India MD Ankur Srivastava said, “Rentals of prime A-grade offices in Gurgaon have shot from Rs 30-33 per sq ft a month six months ago to Rs 60-65 a sq ft now, due to the MCD drive.”
While some are in the process of shifting to Gurgaon, Rediffiusion DYR has already relocated. Express Builders’ JB Goel said, “Shifting to Gurgaon will continue as the suburb offers a safe haven, away from government threats.”
Majestic Properties director Anurag Gupta, however, said, “The current MCD drive against illegal commercial establishments is to be lauded. But they should be phased out in an amicable manner.”
Source: http://www.financialexpress.com/fe_full_story.php?content_id=146155
DTZ India MD Ankur Srivastava said, “Rentals of prime A-grade offices in Gurgaon have shot from Rs 30-33 per sq ft a month six months ago to Rs 60-65 a sq ft now, due to the MCD drive.”
While some are in the process of shifting to Gurgaon, Rediffiusion DYR has already relocated. Express Builders’ JB Goel said, “Shifting to Gurgaon will continue as the suburb offers a safe haven, away from government threats.”
Majestic Properties director Anurag Gupta, however, said, “The current MCD drive against illegal commercial establishments is to be lauded. But they should be phased out in an amicable manner.”
Source: http://www.financialexpress.com/fe_full_story.php?content_id=146155
posted by Real Estate India at
2:35 AM
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