The report, ‘The Seven Stars of India – India’s best performing micro markets for occupiers’ consist the trend and forecast on realty rental market in seven cities of India including, Delhi NCR, Mumbai, Pune, Chennai, Bangalore, Hyderabad and Kolkata.
"Indeed, most cities in India have already witnessed an increase in the volume of lease transactions in 1Q 2010 with NCR-Delhi, Mumbai and Hyderabad having recorded more than a million sq ft of leases each. In 2009, occupiers showed a strong preference towards operational vacant stock rather than projects under construction, a departure from 2007-08," states the report adding, "With the forecasted growth of net completions expected to outpace that of net absorption, a significant supply overhang is expected to remain over the next one year. This will lead vacancy level across India, which was at 17.2% at end-2009 to rise to mid 20% by end-2010."