Brokers in Delhi-NCR make money in commercial deals

NEW DELHI: Focusing on office leasing, retail & warehousing leasing commercial real estate brokers in Delhi, Gurgaon and Noida took home Rs 250 crore from 850-1,000 office leasing transactions that happened in 2015, according to the data compiled by CRE India — an online portal that facilitates buying and selling of commercial properties.

Close to 65 leasing deals took place with an area of 50,000 sq ft and above and on an average, 2015 witnessed 3-4 deals per day.

Brokers got their fees in 45 days on average.

“Delhi, Gurgaon and Noida together witnessed an increase of over 30% in the number of leasing deals in 2015 compared with 2014,” said Ajay Rakheja, managing director of CRE India.

Expansions and consolidations by large MNCs, e-commerce, telecom and BFSI players spurred the office market in 2015. “Over 65 % was contributed by industries like BFSI, E-commerce, IT/ITES and pharma who were the major office space occupiers,” Rakheja said adding that NCR touched almost 10 million sq ft of leasing business in 2015, including Grade B&C building.

Rise in FDI investments, expected GST bill, tax subsidies given to the developers, real estate bill and connectivity development are other factors because of which 2015 saw a spurt in the number of deals.

“While the broker earnings largely remained same, exceptional earnings were made by a few on the back of big deals. “The scenario has undergone a change in terms the brokers handling multiple deals across a wider array of services attributing to multiple and wider set of clients,” Rakheja said.

In 2015, RMZ Corp bought Commercial Tower from BPTP as one of the biggest asset buy in NCR for value approx 850 cr. Some of the other noteworthy deals are given below:

Snapdeal: 5,00,000 sq ft Udyog Vihar, Gurgaon

Reliance Jio: 1,00,000 sq ft Logix Cyber Park, Noida

Reliance Jio: 1,00,000 sq ft Sector 62, Noida

SpiceJet: 1,00,000 sq ft Udyog Vihar, Gurgaon

E&Y: 64,622 sq ft Aerocity, Delhi

Bank of Tokyo & Mitsubishi: 4,2,258 sq ft Aerocity, Delhi

Fidelity: 44,000 sq ft Sector 135 Noida Expressway

Credits ET Realty

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