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Mumbai accounted for 65% of office space leased in India for October

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The total leasing of office space, which comprises demand for all grades of buildings, fell 21 per cent year-on-year in October across seven major cities to 6.7 million square feet on lower demand, according to property consultant JLL India.

The aggregate office market leasing activities refer to transactions for all grades or types of buildings in the top 7 cities (Delhi-NCR, Mumbai, Bengaluru, Chennai, Hyderabad, Pune and Kolkata). The data includes confirmed pre-commitments and term renewals. Deals in the discussion stage are not included.

Total office leasing activities stood at 8.5 million square feet in August 2021.

As per the data, Mumbai with a 65 per cent share of monthly leasing activity clearly leads the way, mainly due to strong demand for space coupled with select significant renewals during the month, followed by Delhi NCR and Pune.

These three cities accounted for nearly 93 per cent of all leasing activity in the October 2022 monthly leasing activity tracker.

The manufacturing sector takes the lead as the biggest driver of aggregate market activity in October 2022 with a 22 per cent share. Consultancy business has also seen improved leasing activity during October with an 18 per cent share and the BFSI segment has a similar share Technology firms are moving slowly on their space requirements and that is visible in the share being just 15 per cent in October, declining to a six-month low, JLL said.

”Prevailing sentiment is creating headwinds for office space decision-making and while activity remains largely intact, lower pre-commitment activity in the last two months is indicative of a momentary sluggishness, also evidenced by the tech sector which is driven mostly by US firms,” the consultant said.

Similar trends may prevail for some time before greater clarity on business and macroeconomic environment will enable occupiers to approach real estate plans with greater certainty moving forward, it added.

According to the JLL data, India’s office Grade A (premium) stock stood at 732 million square feet at the end of the March quarter. The office stocks of other grades were 370 million square feet, taking the total stock to around 1.1 billion square feet.

The consultant releases the leasing data of Grade A office space on a quarterly basis, while it has started to compile the total leasing transactions of all grades of buildings on a monthly basis.

Maharashtra

Circular regarding loudspeakers should be withdrawn immediately: Naseem Khan

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Mumbai: Maharashtra Pradesh Congress Committee State President Harsh Vardhan Sapkal and State Working President and former Minister Mohammad Arif Naseem Khan, while addressing a joint press conference, strongly condemned the new circular issued by the state police regarding the use of loudspeakers at religious places and demanded its immediate cancellation.

In this press conference held at Tilak Bhawan, Arif Naseem Khan said that the ruling BJP government in Maharashtra is deliberately inciting religious sentiments to divert the attention of the people from public issues like inflation, unemployment, farmers’ plight, industrial decline and the deteriorating law and order situation. He said that the latest circular issued by the police regarding the use of loudspeakers in mosques is not only a violation of constitutional rights but also a step affecting the peaceful atmosphere of the state.

Naseem Khan recalled that in 2022, the court had given clear instructions for the use of loudspeakers at religious places that they can be used within a certain sound limit from 6 am to 10 pm. But now the police have issued a new circular on May 11, which has made it mandatory to have a construction plan approval, property card and confirmation from local bodies for installing loudspeakers in places of worship. He strongly criticized this circular, saying that this move is a blatant interference in religious affairs by the police, which is against the constitutionally granted freedom of religion.

Naseem Khan said that this is a step reflecting a communal mindset which is not possible without the tacit approval of the state government. He strongly demanded that Chief Minister Devendra Fadnavis immediately issue an order to cancel this unconstitutional and provocative circular, so that the anxiety and distrust spreading among the people can be addressed.

After the press conference, Muhammad Arif Naseem Khan also inspected the Deonar slaughterhouse in view of Eid-ul-Adha. On this occasion, he held detailed discussions with the slaughterhouse officers, administration representatives, sacrificial animal traders and buyers. He obtained information about the sale and purchase of animals, cleanliness, water supply, lighting, traffic control, token system and other facilities and strictly instructed the officers to resolve all the problems faced by the public and traders on priority basis. Naseem Khan said that millions of people are involved in the sacrificial festival and even a minor negligence of the administration can create big problems. Therefore, the concerned institutions should perform their duties with full diligence and sensitivity. He stressed that the government should not only provide facilities during religious festivals but also avoid unnecessary restrictions and official actions while respecting religious sentiments.

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Maharashtra

Mumbai: 27-Year-Old Man Gets Stuck In Iron Fence At Mumbai Central Station While De-boarding Local Train From Wrong Side; Dies

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Mumbai: A 27-year-old man died after his neck got stuck in the iron fencing while alighting a local train from the wrong side at a platform of the Mumbai Central railway station on Thursday morning, officials said.

About The Incident

The incident took place at around 9.45 am at the station located on the Western Railway network.

During the attempt to get down from the local train, the man’s neck got damaged after being stuck in the fencing, a railway police official said.

The man was found hanging at the iron fence with bleeding injuries, he said.

He was rushed to the Nair hospital, where he was declared dead on arrival, the official said, adding the postmortem was being conducted.

As per some passengers who were travelling on the same train and witnessed the incident, the man tried to get down from the opposite direction, which is the fencing area, he said.

During the attempt, his neck got stuck in the fence and was damaged, the official said.

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Maharashtra

Abu Asim’s letter to the state chief minister and DGP, threatening Nanded Muslims not to sacrifice, demanding action against miscreants to ensure peace

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In Nanded, Maharashtra, Bajrang Dal goons have threatened Muslims with weapons in the area so that Muslims do not sacrifice on Eid-ul-Adha, which is a threat to the state’s atmosphere and there is also a fear of communal violence. In such a situation, the police and administration should take strict action to maintain law and order and curb the miscreants because terrorism by Bajrang Dal goons is on the rise here.

To ensure law and order in the Degulur taluka of Dharmabad district of Nanded district of the state, state Chief Minister and Police Chief DGP have been demanded by MLA and Samajwadi Party leader Abu Asim Azmi to take action against sectarians and miscreants. Azmi has made a serious allegation that Bajrang Dal workers are patrolling the Dharmabad area with weapons and are threatening Muslims and trying to intimidate and spoil the atmosphere so that they do not sacrifice on Eid-ul-Adha, and Hindu extremists have warned Muslims not to sacrifice. Abu Asim Azmi has also sent a letter to the Chief Minister and DGP, demanding immediate intervention from the administration in this matter.

He has said in the letter that a local from Dharmaabad, Sheikh Lal Ahmed, has informed him about the mischief of the miscreants. He has alleged that the miscreants of Bajrang Dal are instructing not to offer sacrifices on Eid-ul-Adha and are also threatening Muslims. He said that the terrorism of Bajrang Dal and RSS should be banned and action should be taken against those who spoil the environment so that peace and security is maintained in Dharmaabad on Eid-ul-Adha. Azmi has appealed that strict police security arrangements be made in Dharmaabad on Eid-ul-Adha so that social harmony is maintained and Muslims can celebrate their festival peacefully.

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