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City Lights: Delhi retail rentals rise up to 21%

Delhi retail rentals rise up to 21%

Written by Agencies |
October 13, 2012 3:08:19 am

Delhi retail rentals rise up to 21%

High street retail locations such as South Extension,Khan Market and Karol Bagh in the national Capital witnessed up to 21 per cent rise in rentals during the June-September period over the previous quarter,according to global property consultant Cushman and Wakefield (C&W). In its report,C&W said that the high street of South Extension registered a growth of about 21 per cent increase in rental values over the previous quarter,followed by Karol Bagh which registered a growth of 7 per cent in the same period. “Khan Market,remained India’s most expensive retail destination with a rental value of R1,250 per sq ft per month,which was higher by 2 per cent over the last quarter,” it said,adding that these high streets retail locations have been high on demand. Mall rentals remained stable across the city owing to high vacancy rates which was recorded at about 27 per cent in the third quarter of 2012.

DLF launches mall in Noida

DLF Retail has launched ‘The DLF Mall Of India’ in Sector 18,Noida. It has an area spanning 1.8 million square feet and will have 14 anchors,6 shopping levels with over 475 retail units,an indoor entertainment complex spread over two levels,and a food court with over 1,200 seats.

HUDCO cuts lending rates

The Housing and Urban Development Corporation (HUDCO) has reduced lending rate by 25 basis points in its floating rate,on most of its lendings on housing and urban infrastructure development projects. With this reduction,the floating interest rates for economically weaker sections and lower income group housing categories would range from 8.25 per cent to 8.75 per cent,a company release said. For HUDCO Niwas,the individual lending scheme of HUDCO,the floating interest rates would henceforth be 10 per cent for loans up to Rs 25 lakh.

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