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Delhi’s <keyword id="90899" type="UNKNOWN" weightage="100" keywordseo="Connaught-Place">Connaught Place</keyword> has slipped one place to become the world’s eighth costliest office location, according to property consultant Coldwell Banker Real Estate (CBRE). Mumbai’s <keyword id="102951" type="UNKNOWN" weightage="100" keywordseo="Bandra-Kurla-Complex">Bandra Kurla Complex</keyword> (BKC) was ranked 16th and <keyword id="6391251" type="COMPANY" weightage="100" keywordseo="Nariman-Point">Nariman Point</keyword> 32nd in the list of Top 50 Costliest Global Office Markets. 
 
“At more than $150 per sq. ft. per annum, Delhi’s traditional central business district (CBD) of Connaught Place was ranked as the eighth most expensive office market in the world,” CBRE said. 
 
Last year, Connaught Place was ranked seventh while BKC and Nariman Point were at 15th and 32nd positions, respectively. 
“London’s West End remained the world’s highest priced office market, followed by Hong Kong (Central) and Beijing (Finance Street),” CBRE said. 
 
CBRE South Asia chairman &amp; MD Anshuman Magazine said, “This downward change in rankings in the CBD is due to a recovery in the global market. Locally, however, the demand levels remain stable and due to a lack of new supply, values remain high.” 
 
CBRE tracks occupancy costs for prime office space in 126 markets across the world. The survey provided data on the basis of office rents and occupancy costs as on 31 March, 2014. CBRE noted that Connaught Place remains highly sought after by corporate office occupiers because of its central location.

Connaught Place Slips One Notch, Becomes
World’s 8th Most Expensive Office Location

New Delhi, Dec 12 () Piramal Realty on Thursday said it has formed a joint venture with Omkar Realtors to develop a project in Mumbai and will invest Rs 3,000 crore over the next few years.
 Piramal Realty, the real estate development arm of diversified conglomerate Piramal group, announced its second joint development agreement (JDA) with Omkar for a residential project in Mahim this week.
 The company intends to develop 2.2 million sq ft over 4 acres and plans to invest Rs 3,000 crore over the next few years.
 The development benefits from being in close proximity to Mumbai's premiere business district of Bandra Kurla Complex (BKC). This would be the largest residential development in the Mahim/BKC area.
 "At Piramal Realty, we are excited to develop this prime parcel which is not only a few minutes from the sea link but also enjoys beautiful views of the sea, mangroves and other open spaces. With the opening of several world class malls, restaurants, hotels, schools and theatres, BKC will this year become the social and cultural nerve centre of the city," said Anand Piramal, founder, Piramal Realty.
 The company achieved a total sales booking worth Rs 3,400 crore last fiscal.
 Founded in 2012, Piramal Realty is one of the country's leading developers with 17 million sq ft of residential and commercial under development in and around Mumbai.
 In 2015, Warburg Pincus and Goldman Sachs invested USD 235 dollars for a minority stake in the company. MJH HRS

Piramal Realty forms JV with Omkar Realtors for project in Mumbai, to invest Rs 3,000 cr

Mumbai, Dec 24 () Even as the Indian real estate sector continues to witness a slowdown, cities like Bengaluru and Mumbai are expected to attract healthy office rentals in 2020, mainly backed by rapid expansion of IT industry, a report has said.
 According to a study titled 'Asia-Pacific Prime Office Rental Index Q3 2019' by property consultant Knight Frank, the National Capital Region (NCR) would see stable growth in rentals.
 "India's main office markets continue to enjoy healthy rental growth, despite the weaker economic print in 2019, mainly due to the rapid expansion witnessed in its IT industry," Knight Frank India Chairman and Managing Director Shishir Baijal said. 
 The IT industry accounted for 35 per cent of total transaction volume in first half of 2019 across the top eight cities, which was most apparent within Bengaluru, which recorded an 14 per cent rental rise in January-June (H1) 2019. 
 "Multinationals continued to expand robustly because of availability of right talent pool and new office assets at comparatively low rents. In 2020, while more supply is expected over the horizon, demand is expected to remain steady as the IT sector continues to expand," he added.
 According to the report, Grade-A office rents across the Asia-Pacific region are expected to fall up to 3 per cent in 2020, as compared with a 0.6 per cent rise in the first nine months of 2019, as occupier demand continues to soften.
 The central business district (CBD) of Bengaluru was the best performing market in Asia Pacific in July-September (Q3) 2019 with a rental growth of 17.6 per cent, the report said.
 The CBDs of Connaught Place in NCR and Bandra Kurla Complex in Mumbai were the 7th and 11th fastest-growing prime office markets in the Asia-Pacific region, respectively, with a comparatively modest 4.4 per cent and 2 per cent year-on-year rental growth, respectively, in Q3 2019, it said. PSK
 RVK

Bengaluru, Mumbai to see healthy office rental growth in 2020 on IT industry demand: Report

Did you know Kolkata has the highest number of millionaires? If this surprises you, let's tell you that Kolkata even houses the most posh localities in India- Alipore and Ballygunge. 
 
India's financial capital Mumbai, which is home to 46,000 millionaires and 28 billionaires, is the richest Indian city with a total wealth of $ 820 billion, says a report. 
 
According to New World Wealth, Mumbai is the richest city in the country followed by Delhi and Bengaluru in the second and third place, respectively, as per a news report by PTI. 
 
Delhi is home to 23,000 millionaires and 18 billionaires with a total wealth of $ 450 billion, while Bengaluru with a total wealth of $ 320 billion houses 7,700 millionaires and 8 billionaires. 
 
The list also includes Hyderabad with a total wealth of $ 310 billion. Hyderabad is home to 9,000 millionaires and 6 billionaires. 
 
Kolkata home to 9,600 millionaires and 4 billionaires has a total wealth of $ 290 billion, Pune (total wealth of $ 180 billion, has 4,500 millionaires and 5 billionaires), Chennai ($ 150 billion, 6,600 millionaires, 4 billionaires) and Gurgaon ($ 110 billion with 4,000 millionaires and 2 billionaires). 
 
Some of the other emerging cities in terms of total wealth include, Surat, Ahmedabad, Visakhapatnam, Goa, Chandigarh, Jaipur and Vadodara. 
 
The total wealth held in the country amounts to $ 6.2 trillion (as of December 2016) and the country is home to 264,000 millionaires and 95 billionaires in total. 
 
"Over the next decade, India is expected to benefit from strong growth in the local financial services, IT, real estate, healthcare and media sectors. In particular, the local hospital services and health insurance sectors are expected to grow strongly. Hyderabad, Pune and Bangalore are expected to lead the pack in terms of wealth growth," the report said. 
 
Millionaires or High NWorth Individuals (HNWIs) refer to individuals with net assets of $ 1 million or more. 
 
The report also jotted down some of the affluent suburbs in the country. In Mumbai localities like Bandra, Juhu, Goregaon, Parel, Worli, Palm Beach Road were named as the richest, in Delhi it was (Westend Greens, Dera Mandi, Greater Kailash, Lutyens), in Kolkata (Ballygunge, Alipore) and in Chennai (Boat Club Road, Poes Garden).

Guess which is the richest city in India

The Bandra Ohm, a residential high-rise in Mumbai, is offering the latest extravagance in luxury condos: a private balcony swimming pool in every unit.&#xa0;
The 30-story tower will have about 100 units that will all have their very own crescent-shaped balcony pools enclosed in acrylic (the material used in large aquariums), <a href="http://www.wsj.com/articles/luxury-condos-with-private-pools-1420044973">the Wall Street Journal reports</a>.&#xa0;
<a href="http://www.jameslawcybertecture.com/">James Law Cybertecture</a>, the Hong Kong based firm building the Bandra Ohm, is designing the building with private swimming pools in order to offer&#xa0;a whole new approach to the living environment of high-rise buildings.&#xa0;
In fact, the entire building takes its inspiration from water.&#xa0;"The design concept of the tower is inspired by the ripple effect generated by water droplets, which is also known as the capillary wave," according James Law Cybertecture.
The ripple pattern creates an empty space in the center of the building, where the developers have built a specially designed clubhouse.&#xa0;
This is not the first development that is planning to have a private swimming pool in every balcony. A 35 story building in Kuala Lumpur has a tagline that says: "94 Apartments, 95 Swimming Pools," according to the WSJ. In the Bahamas, a 34 unit <a href="http://curbed.com/archives/2014/01/27/bjarke-ingels-reveals-honeycomb-resort-condo.php">Honeycomb building</a> will have a private pool in every apartment.&#xa0;
But many are questioning if the private pools are worth it since they are usually quite small, and have a high possibility of spilling over. Plus, there's always the potential disaster of a leak.
The hassles of adding private pools to buildings also significantly increases the price - the Honeycomb's condos that are 5,800 square feet and priced at $15 million.
"If you're trying for a differentiator, that's a reason to do it," Dolly Lenz, a luxury real-estate agent in New York,&#xa0;<a href="http://www.wsj.com/articles/luxury-condos-with-private-pools-1420044973">told the WSJ</a>. "But personally I wouldn't recommend the idea to a developer."&#xa0;

You Searched For "Bandra real estate" and got 5 results

Connaught Place Slips One Notch, Becomes World’s 8th Most Expensive Office Location

BI India Bureau

Piramal Realty forms JV with Omkar Realtors for project in Mumbai, to invest Rs 3,000 cr

PTI

Bengaluru, Mumbai to see healthy office rental growth in 2020 on IT industry demand: Report

PTI

Guess which is the richest city in India

BI India Bureau

A Luxury Condo In India Will Have A Private Swimming Pool On Every Balcony

Asta Thrastardottir

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