Unlike residential real estate, which is still recovering, commercial real estate is roaring with M&A deals, corporate funding and even companies taking up office space. In the last one month alone, a spate of transactions in the commercial category has added heft to the realty market. Industry watchers note that the high gestation period of commercial projects notwithstanding, developers too are increasing their pipeline of commercial real-estate projects. IDBI Bank is the latest to have sold its office property at the Bandra Kurla Complex (BKC), to SEBI for Rs 1,000 crore. The deal is being billed the second-largest end-user office-space transaction by value after Abbott India’s Rs 1,480-crore purchase of 4.35 lakh sqft space at BKC, in September 2015.The IDBI building has a built-up area of 3.41 lakh square feet.
Source : NAREDCO