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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

Waris Pathan knows what Nitesh Rane is doing. Nitesh Rane’s threat to Pathan.

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Mumbai: Maharashtra BJP leader and minister Nitesh Rane once again spewed venom against Muslims and said that this is not his father’s Pakistan and Karachi but a Hindu Rashtra and a government of Deva Bhau, in such a situation, if anyone tries to disrupt the order and atmosphere, he will be given a response. Nitesh Rane targeted AIMIM national chief Asaduddin Owaisi and said that the place where Owaisi’s rally was held is not Ahmednagar but Ahlia Nagar. The government has changed the names of Ahmednagar and Aurangabad, despite this, people avoid calling Ahmednagar Ahlia Nagar and Aurangabad Chhatrapati Sambhaji Nagar. Such people do not follow the Constitution of India but follow Sharia. He said that if Owaisi tries to disrupt the atmosphere of the state, the government will be forced to consider whether to give him permission to hold a rally or not because he comes here for his political rally.

Threatening Advocate Waris Pathan, Nitesh Rane said that Waris Pathan knows what Nitesh Rane is. He said that Waris Pathan should fix the time and place, Nitesh Rane will definitely come, then we will know what will happen. Nitesh Rane, while showing provocation against Muslims, said that when the idol of our gods and goddesses is desecrated and subjected to violence, where does brotherhood go and where does the Constitution of India go then? He said that if anyone tries to disturb the peace of the state, then he should know that here is the Hindutva Valley government of Devendra Fadnavis.

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Maharashtra

Anti-drug rally of Govindi Samajwadi Party leader and MLA Abu Asim Azmi

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Mumbai: A massive anti-drug rally was taken out today under the leadership of Samajwadi Party MLA Abu Asim Azmi to draw attention to the serious problem of drug addiction and illegal drug trade in Mankhurd Shivaji Nagar assembly constituency and to create public awareness against it.

Thousands of workers and local citizens participated in the rally. Protesters took to the streets and demanded strict action against the illegal drug trade and appealed to the youth to stay away from drugs.
The main objective of the rally was to free the youth of the area from the clutches of drugs and to put pressure on the administration to stop this illegal trade. Abu Asim Azmi himself led the rally and stressed the need for immediate and strict action against the drug problem in the area. Not only party workers but also a large number of mothers, sisters, young and old citizens of the area participated in the demonstration, highlighting the seriousness of the problem.

The drug problem in Mankhurd Shivaji Nagar constituency has been a topic of discussion for many years and it is badly affecting the lives of local citizens. By organizing this rally, MLA Azmi has once again shown his determination to solve this important problem faced by the citizens of his constituency. Speaking on the occasion, MLA Abu Asim Azmi warned the administration: “Immediate and strict action should be taken against those involved in the illegal drug trade, otherwise the Samajwadi Party and the local citizens will intensify the protest.” The rally proved to be an important rally in drawing attention to the social and health problems of the Mankhurdshivaji Nagar area.

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Maharashtra

A new police station should be established in Govandi Shivaji Nagar. Maharashtra SP leader Abu Asim Azmi demands from Police Commissioner Devin Bharti

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abu aasim aazmi

Mumbai: Maharashtra Samajwadi Party leader and MLA Abu Asim Azmi has demanded the establishment of a new police station in Shivaji Nagar constituency from Mumbai Police Commissioner Devin Bharti. He said that the old police station has been shifted to Mahada, which makes it very difficult to reach the police station from the SMS company area and it takes half an hour to an hour. In such a situation, a new police station should be established in Shivaji Nagar constituency. There has been an increase in drug abuse, crimes and other incidents in Shivaji Nagar and Govindi areas, along with an increase in the population here. It is necessary to establish a police station in proportion to the population, while the presence of police stations and personnel is not there in proportion to the population. He said that Police Commissioner Devin Bharti has said that after the recruitment of police, the police station will be established and manpower will be deployed in the police stations. Along with this, Abu Asim Azmi has also accused the local administration of irregularities in the distribution of funds along with the establishment of the police station. He said that now the corporation and The BMC election has not been held, there are Samajwadi Party corporators here but they are not being provided funds, but whoever joins the Shinde group is provided funds, this is complete injustice and therefore the funds should be distributed equally. He said that the government has no concern with the slum areas, the police presence will remain in Walkashore, Malabar Hill and Cuffe Parade, but there is no police presence in the slum areas and there is a shortage of them, that is why the bat chowki that we have built with our own funds in Govindi is also empty, there is no police personnel in it.

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