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Rental for commercial property

The National Real Estate Development Council (NAREDCO) has proposed setting up a self regulatory real estate authority to avoid interference of government. There are plans being drawn for its formation. The authority is believed to function at four levels centre, state, district, and town. It will also seek the corporation from the stakeholders who will help in its representation. There will be ministries of urban development and housing, real estate companies, urban poverty alleviation with other land managing bodies. The government was planning to bring a watchdog for real estate industry which will make developers accountable to buyers. Proposal for the authority has come following in the same footsteps. There is a dire need for such a self regulatory authority and not the government controlled regulatory bodies in Indian property market. As an autonomous body, its main responsibility will be setting the guidelines for real estate developers and also prescribe disciplinary action. If the plans for formation of a regulatory authority fall in green box, all builders have to follow the rules and regulations like developing earthquake resistant and environment friendly buildings.

Rents in Central and Suburban business districts are going through the roof. A shift in the trend can be an outcome of two factors
a) Over supply of commercial space in the satellite towns
b) Pending development of a new SBD

Rentals for commercial Properties in Tripunithura hover around Rs 325 per sq ft a month. The rents at these places have marked a hike by 7-8% quarter on quarter basis and by 50-80% on year to year basis. Rentals in SBD have gone up by 15-20% on quarter to quarter basis and 50-70% on year to year basis. This accounts for approximately Rs 250 per square feet per month. However, commercial rents in certain NCR markets are expected to undergo corrections in the wake of total commercial supply to go about 5.6 million square feet.
Thats going to be dangerous man! Neutral
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