Latest news with #India-facing
Time of India
03-07-2025
- Business
- Time of India
NCR records 7.2 million sq ft office leasing in H1 2025
NEW DELHI: The National Capital Region (NCR) has outperformed other Indian cities in both commercial and residential real estate in the first half of 2025, with a record-breaking 7.2 million sq ft of office space leased and a steep rise in ultra-luxury home sales, according to Knight Frank India 's latest report. Office Market: Strongest Leasing Momentum Ever Recorded in NCR NCR's office leasing rose by 27% year-on-year, hitting an all-time high, underlining the region's growing importance as a commercial hub. Gurugram, often seen as NCR's corporate epicentre, accounted for an overwhelming 65% of the total office leasing during the period—a sharp rise of 900 basis points compared to the same period last year. Notably, the demand wasn't just driven by India-facing enterprises. Global Capability Centres (GCCs)—companies that provide support services to global operations—ramped up their share of office leasing in NCR to 31% in H1 2025, equal to that of domestic firms. This indicates a rising confidence among global firms in NCR's talent pool and infrastructure readiness. The average rental value for office space in the region jumped 8% year-on-year to ₹93.5 per sq ft per month. Delhi's Central Business District remained the costliest, commanding rentals between ₹220 and ₹390 per sq ft per month. In Gurugram, Golf Course Road and Cyber City continued to dominate both demand and pricing. About 4.1 million sq ft of new supply was added across NCR during the same period, but the supply-demand gap for quality Grade A offices remains evident, prompting upward pressure on rents. Residential Market: Luxury Segment Shines Amid Overall Dip On the residential side, while overall sales and launches dipped slightly, the market story was driven by rising aspirations and a growing appetite for premium living. Housing sales across NCR stood at 26,795 units in H1 2025, marking an 8% year-on-year drop. New launches also saw a decline of 17%, totalling 25,233 units. Yet, within this subdued environment, the luxury housing segment recorded unprecedented activity. Sales of homes priced above ₹2 crore surged, accounting for 57% of total sales—up from 43% in H1 2024. Even more striking was the growth in ultra-luxury homes priced above ₹50 crore, where sales increased by a staggering 2,550% year-on-year. These marquee transactions were largely concentrated in Gurugram, reaffirming its position as NCR's high-end residential capital. The city alone contributed 51% to total housing sales and 55% to fresh supply, with sectors along Golf Course Extension Road, Southern Peripheral Road, and Dwarka Expressway witnessing heightened traction. Noida and Greater Noida together formed 30% of NCR's home sales, bolstered by infrastructure upgrades such as the ongoing work on the Noida International Airport in Jewar and metro expansions. The increased demand in these regions was predominantly in the mid to upper-mid segments. Residential prices across NCR averaged ₹5,535 per sq ft in H1 2025, reflecting a healthy 14% year-on-year increase. While the premium and luxury segments gained momentum, the affordable housing category (₹25–50 lakh) saw sales drop by 37%—a result of price escalations, land cost pressures, and tighter home loan dynamics. Shift in Buyer Sentiment and Developer Strategy What's emerging clearly is the buyer shift towards larger homes with better amenities, especially post-pandemic. Developers, in response, are increasingly launching high-ticket projects tailored to aspirational urban families and NRIs. Knight Frank's findings reflect a maturing market where both end-users and investors are focusing on long-term value. The rise of demand in studio apartments, branded residences, and gated communities equipped with health and wellness features also signal changing buyer preferences.
Time of India
03-07-2025
- Business
- Time of India
India's office space demand hits record 48.9 million sq ft in H1 2025
NEW DELHI: India's commercial office real estate market witnessed record-breaking demand in the first half of 2025, with gross leasing volumes soaring to 48.9 million sq ft, marking a robust 41% year-on-year growth, according to Knight Frank's latest report. The unprecedented surge in demand was driven by strong leasing activity in Bengaluru, NCR, and Pune, with Global Capability Centres (GCCs) leading the absorption. GCCs alone contributed 39% of total leasing, followed by third-party IT services (22%), flex operators (21%), and India-facing businesses (18%). GCCs and IT lead occupier activity The report highlights that GCCs continued their aggressive space acquisition, leasing 19.1 million sq ft in H1 2025—a 96% jump over H1 2024. Similarly, third-party IT services recorded a 43% rise, underlining renewed optimism in India's digital and outsourcing sectors. Supply falls short of soaring demand While occupier demand hit new highs, supply struggled to keep pace. Office completions declined by 20% year-on-year to 20.1 million sq ft, raising concerns over future space availability. The mismatch between supply and demand is most evident in key markets like Bengaluru and Hyderabad, where project completions were down by 73% and 72% respectively. Vacancy rates and rents adjust As a result, average vacancy rates across top 8 cities declined from 15% to 14.7%, with six out of eight cities showing contraction. Mumbai and Hyderabad recorded the highest year-on-year rental growth at 12% and 10% respectively, with average rents in Mumbai reaching ₹129 per sq ft per month. Bengaluru leads, NCR and Pune clock new highs Bengaluru maintained its leadership with 18.2 million sq ft of office leasing, up 116% year-on-year, followed by NCR at 7.2 million sq ft and Pune at 5.1 million sq ft, both notching their highest-ever H1 performance. Kolkata also marked a notable jump with a 60% year-on-year growth
New Indian Express
11-05-2025
- Politics
- New Indian Express
Making sense of Asim Munir's madness amid rising India-Pakistan tensions
The man at the helm General Syed Asim Munir Ahmed Shah, born in 1968, became the 11th chief of the Pakistan Army on November 29, 2022, replacing General Qamar Javed Bajwa. He had two major stints with the powerful intelligence directorate of Pakistan Army, was director of military intelligence in 2016 and took over as the director general of Inter Services Intelligence (ISI) in 2018, Pakistan's deep state. His ISI tenure was truncated after his relations with then prime minister Imran Khan, who is now in jail, soured. When Imran was arrested, he had publicly implicated Munir for playing a role in his arrest. Imran's successor Shehbaz Sharif chose Gen Munir as the Pakistan Army chief. Imran had tried to spike Gen Munir's appointment at army chief and lobbied to instal his trusted officer Gen Faiz Hameed in the powerful seat instead. Saddled with a sinking economy that survives on foreign bailouts, runaway inflation, home-grown insurgency and popular outrage over the jailing of Imran, Gen Munir possibly sought to deflect attention with his provocative anti-India statements. Pahalgam happened soon after, suggesting the two were linked. Imran's fallout with the army had eroded the latter's clout. Under Gen Munir, the militablishment is back in control of the nation. Munir had headed the ISI when tensions between India and Pakistan escalated after the Pulwama suicide attack in February 2019 that resulted in the death of 40 CRPF personnel. He is said to have been among the people shaping Pakistan's response and security measures since then. Interestingly, Gen Munir has his roots, like Pervez Musharraf, in India, which in his case is in Jalandhar, Punjab. Peddling the two-nation theory, he said on April 17, "Our religions are different, our customs are different, our traditions are different, our thoughts are different, our ambitions are different. That was the foundation of the two-nation theory that was laid there. We are two nations, we are not one nation." He advised his audience to tell the story of Pakistan creation to their children "so that they don't forget that our forefathers thought we were different from Hindus in every possible aspect of life." His role model The Taliban is Pakistan deep state's baby as are other India-facing terrorist outfits. Through the Tehrik-i-Taliban Pakistan, the Pakistan army sought to extend its strategic reach into Afghanistan. But the Durand line between Afghanistan and Pakistan is now active, with Taliban terror attacks deep inside Pakistan and retaliatory action. Add to that the continuing insurgency in Balochistan, and Gen Munir's finds himself challenged from every side. Munir is known to adore Gen Muhammad Zia-ul-Haq and model himself after him. It was Zia who operationalised the doctrine of "bleeding India with a thousand cut"s by using terror as an instrument of state policy. From Gen Parvez Musharraf to the current Pakistan defence minister Khawaja Asif, many well-placed people have openly talked about Pakistan's history of supporting, training and funding terrorist organisations. Terror groups have been the extended arm of the Pakistani army, which sponsors, funds and trains them and uses them as proxies. Khwaja Asif's admission came in the wake of Operation Sindoor. He said Pakistan supported terrorist groups for three decades, did the 'dirty work' on behalf of the West during the Soviet-Afghan war and the US-led war against the Taliban following the 9/11 attacks. That policy was a mistake, he said, adding Pakistan paid a heavy price for its actions.
