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Office transactions across prime Indian cities surge 168% YoY: Knight Frank India

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3 years ago

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Office transactions across prime Indian cities surge 168% YoY: Knight Frank India

In the third quarter of 2021, India’s office building transactions recorded strong quarterly growth, despite the imminent threat of more serious second and third waves of infections.

According to Knight Frank’s third quarter office market update report for the third quarter of 2021, the total office space in major cities in the third quarter was 1.2 million square meters (12.5 million square feet), a year-on-year increase of 168%. The report mentioned that compared with the same period last year, in 2021 (January to September 2021), the office market transaction volume increased by 13%, and the completion of new office buildings increased by 6%. As Indian companies take major steps to resume office work, increase vaccination rates and reduce liquidity restrictions, they have improved the business environment and helped restore the pre-pandemic market traction levels. Knight Frank India pointed out that in the third quarter of 2021, the total office transactions in eight markets in India improved, reaching 83% of the 2019 quarterly average.

Among the larger markets, Chennai, Bangalore, and the National Capital Region (NCR) recorded the highest recovery in the third quarter of 2021, with transaction volumes reaching 123%, 112%, and 93% of the 2019 quarterly average. The IT department was the largest consumer of space this quarter, accounting for 34% of the transaction space. Increased transaction activity in this industry is an extremely encouraging driver of office demand, as it is the most prolific tenant category in the office market. This quarter, tenants occupied nearly 23,500 co-office seats in eight markets, the highest this year. “After the second wave threatened the derailment of the market in the previous quarter, the Indian office market experienced a strong recovery in the third quarter of 2021.

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Based on the 2019 quarterly average, the transaction volume achieved in this quarter is also statistically significant because Office transaction volume was at a historic high that year.” Knight Frank India company CMD Shishir Baijal said. New completions have also increased significantly, with 1.1 million square meters (11.9 million square feet) delivered in the third quarter of 2021, an increase of 67% year-on-year. Bangalore, Pune, and Hyderabad accounted for 73% of the newly completed area, with Bangalore having the largest area delivered at 400,000 square meters (4 million square feet). From January to September 2021, the number of new construction completions increased by 6% compared to the same period last year. In the second wave of COVID-19, newly completed projects were hit by a shortage of labor.

News Source : Construction Week Online

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

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3 weeks ago

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January 30, 2025

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

Akshay Kumar and Priyadarshan, the acclaimed Indian director, celebrated their 68th birthday on Instagram. Kumar, who has worked with Priyadarshan on several cult comedies of the early 2000s, wished him a happy birthday and called him a mentor. The duo is now back together for their upcoming horror-comedy, Bhooth Bangla.

The first poster of the movie has been released, and it is expected to hit theaters in 2025. Akshay Kumar wore a black fedora and a green jacket, layered over a black tee, and fans have expressed their excitement for their new movie.

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The duo’s dynamic and deep bonding have been praised by fans, who have expressed high anticipation for their new movie. The first poster of Bhooth Bangla has already been released, and the movie is expected to hit theaters in 2025.

Akshay Kumar, the versatile Bollywood actor, recently celebrated director Priyadarshan’s birthday by sharing a behind-the-scenes (BTS) photograph from their upcoming film, “Bhooth Bangla.” In the image, Akshay humorously captioned, “Surrounded by ghosts…” The photo features Akshay alongside Priyadarshan and co-actor Paresh Rawal, all dressed in traditional attire, with a black cat perched on Akshay’s shoulder, adding a whimsical touch to the scene.

Reunion After 14 Years

This collaboration marks a significant reunion between Akshay Kumar and Priyadarshan, who last worked together on the film “Bhool Bhulaiyaa” in 2007. Their partnership has been celebrated in the past for delivering successful comedies like “Hera Pheri” and “Garam Masala.” Fans have eagerly anticipated their return to the big screen together, and “Bhooth Bangla” promises to be a delightful addition to their repertoire.

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About ‘Bhooth Bangla’

“Bhooth Bangla” is a horror-comedy that blends elements of suspense with humor, a genre in which both Akshay Kumar and Priyadarshan have excelled. The film is produced by Balaji Telefilms Ltd in association with Cape of Good Films. The motion poster released earlier this year features Akshay Kumar in a suit, with a cat on his shoulder, licking milk slyly, setting the tone for the film’s intriguing and humorous premise.

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Anticipation and Fan Reactions

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The BTS photo shared by Akshay Kumar has generated excitement among fans, who are eager to see the trio back together on screen. The playful caption and the presence of the black cat suggest that “Bhooth Bangla” will offer a mix of thrills and laughs, staying true to the successful formula of their previous collaborations.

As the release date for “Bhooth Bangla be a significant highlight in the upcoming entertainment lineup. The reunion of Akshay Kumar, Priyadarshan, and Paresh Rawal, combined with the intriguing premise and the playful BTS moments, has set high expectations among audiences. Fans can look forward to a cinematic experience that promises both chills and chuckles.

For a visual glimpse into the making of “Bhooth Bangla,” you can watch the following video Akshay Kumar expressed his gratitude as they once again united for their upcoming movie Bhooth Bangla. This marks a new chapter in their long-standing collaboration since the 2000s. He shared a picture from behind the scenes of their new movie, where it seems like they are laughing about something.

Akshay wrote,”Happy Birthday, Priyan Sir! What better way to celebrate than by spending the day on a haunted set, surrounded by ghosts…both real and unpaid extras? Thank you for being a mentor, and the only person who can make chaos look like a masterpiece. May your day be filled with fewer retakes. Wishing you a fantastic year ahead!”

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