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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

Mumbai Accident: Elderly Woman Hit By Garbage Truck Near Shitladevi Metro Station In Mahim; Suffers Heavy Blood Loss

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Mumbai: An elderly woman was seriously injured after being hit by a garbage dumper truck in Mahim on a busy stretch. Disturbing visuals showed the woman in glaring pain. The incident took place near the Mumbai Metro 3’s Shitladevi Mandir Metro Station in Mahim.

The victim was attempting to cross the road when the garbage dumper truck hit her. The dumper, reportedly moving at speed, struck her, leaving her with severe injuries and heavy blood loss. Visuals also showed locals rushing to help and taking her to the nearest hospital.

Currently, there is no update on her condition. Though visuals showed police and traffic police on the scene, it is yeh not known if any case was registered against the garbage dumper truck.

Meanwhile, in another recent accident case, three students of the Indian Institute of Technology Bombay were killed after their car met with an accident on the Mumbai–Pune Expressway near Lonavala on Thursday morning while returning from Khandala, where they had gone to watch the sunrise.

The deceased, identified as Omkumar Borse (23), a resident of Nashik; Lay (20), from Nagpur; and Shreyansh Sharma (22), from Jaipur, were travelling in a Volkswagen Polo when the accident occurred. Police officials said that the exact cause of the accident is yet to be determined, as there were no eyewitnesses at the scene.

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Maharashtra

Mumbai Local: 395 Without Tickets Fined At Ghatkopar During Evening Peak Hours, Central Railways Collects Over ₹1 Lakh Fine

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Mumbai: A special ‘fortress’ ticket-checking drive by Central Railway at Ghatkopar station during peak evening hours caught hundreds of ticketless passengers, with authorities collecting a whopping fine of over Rs 1 lakh in a day.

According to the update shared by DRM Central Railway, the drive was held on Tuesday, March 18, during the evening peak hours. During the intensive checking operation, “395 ticketless passengers were caught, and a Rs 1,02,260/- penalty was imposed.”

Notably, Ghatkopar railway station sees heavy passenger footfall as commuters from both Central and Western lines connect here due to its direct Metro Line 1 link between Ghatkopar and Andheri, making it a major boarding hub.

Meanwhile, on the same day, a special drive was also held at Mulund station, where the authorities caught 315 ticketless passengers, and a fine of Rs 74,860 was collected in a day.

There has been a rise in ticketless travel cases across Mumbai, with special checking drives being conducted at multiple railway stations. Hundreds of passengers are being caught every day during these operations.

On March 16 and 17, special ticket-checking drives were carried out at Asangaon, Titvala, Ambernath and Badlapur stations. At Asangaon, 312 ticketless passengers were caught and fined, and Rs 78,290 was collected, while 305 passengers at Titvala were penalised, collecting Rs 75,345 in fine.

On March 16, a separate drive at Ambernath and Badlapur during evening peak hours caught 763 ticketless travellers, with a total fine of Rs 1,88,620 collected. Last week, a similar drive was held at Vashi railway station, resulting in action against 393 passengers, with authorities collecting Rs 1,02,260 in fines in a single day.

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Maharashtra

Bomb threat to blow up Mumbai Bandra BKC Passport Office; no suspicious objects or explosives found during search; alert issued in area

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Mumbai: Bandra BKC has been rocked by a bomb threat. A panic has erupted in the area after an email was received stating that 19 cyanide bombs have been planted in the passport office in Mumbai’s BKC. The police immediately received the information about this email and the bomb disposal and bomb disposal teams reached the spot. A panic has erupted after a bomb threat was received at the passport office in Mumbai’s Bandra-Kurla Complex (BKC). The threat was given through an email. A threat was made to plant 19 bombs filled with cyanide in the passport office and toilets. There was panic after the email was received. The threatening email said that the bombs would explode at 1.30 pm today. As soon as the information about this threatening email was received, the police and the bomb disposal squad reached the spot. The entire area has been evacuated and the bomb squad searched but nothing was found. Therefore, the police are taking details of the email through which the threat was sent. Mumbai Police is investigating the entire matter in depth.

Threatening mails on three email IDs
On Wednesday, the passport office in BKC received three threatening emails. In which 19 cyanide bombs kept in the passport office and toilets were threatened to explode at 1.30 pm. The threatening mails were received on the email addresses Sourav_biswas21@hotmail.com, rpo.mumbai@mea.gov.in and rpo.mumbai@cpo.gov.in. After this, the security agencies and the Mumbai Police were immediately informed. On receiving the information, the security agencies started immediate action. Senior officers of the BKC police station, an ATS team and officers of Unit 8 immediately reached the spot. They took control of the entire area and started investigation.

Citizens urged to be vigilant
The bomb disposal and bomb disposal team conducted a thorough inspection of the lobby of the passport office, the main entrance, the entrance and exit routes, the trees and bushes in the area and all the surrounding areas as a precautionary measure. Fortunately, they did not find anything suspicious or objectionable in this inspection. Still, the police, taking the matter seriously, have appealed to the citizens to be vigilant. They have also been asked to immediately inform the police if they see anything suspicious anywhere.

Fake threatening emails are also often sent. Such fake emails create an atmosphere of fear. To prevent this, the cyber police have started collecting more information about email IDs. The security personnel of the passport office have also been instructed to be vigilant and follow security standards.

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