Vatika Group Records Lease of One Million Sqft in FY 22-23
The previous year has set new benchmarks as Vatika Group recorded lease worth 1 million sq ft across all its projects. The major contribution towards this milestone came from the Delhi-NCR real estate market. Exceeded all forecasts Delhi-NCR registered a phenomenal growth in both rentals and returns on commercial real estate, including retail and office spaces. Dominating the absorption levels the region witnessed an increase in rentals in CBD area, while vacancy levels dropped in CBD of Gurguram and active leasing remained robust in SBD. “Vatika has achieved an occupancy of 95% in commercial buildings located in CBD areas of Gurgaon. Occupancy has increased for Grade A offices. Corporates are now looking at environment sustainability, premium amenities and higher specifications. Sustainability and low environmental impact are core values at Vatika, and these are incorporated into Vatika projects right from the design stage. Several of our projects have received recognition from regulatory bodies, including the coveted LEED Gold Standard for INXT City Centre and 4 Star GRIHA rating for One On One. In fact we are seeking LEED Gold/Platinum certification for 7.56 million sq ft of our real estate portfolio. Almost all our premises have already incorporated most of the Green Building Measures advocated by such bodies”, said Ritu Gupta head of leasing at Vatika Group. “In a first, domestic firms overtook American firms in annual leasing, accounting for nearly half of the leasing share in 2022, mainly led by flexible space operators, technology corporates and BFSI firms,” CBRE said. Bengaluru, Delhi-NCR and Mumbai dominated the absorption by domestic firms, it added. Vatika has another 16 lakh sq ft area available for lease in prime commercial campuses across Delhi NCR that will generate the rental value of nearly 10 Crs. The Group has delivered more than 8 million sq ft of commercial and retail projects.
Tags : benchmark Vatika Group projects Delhi-NCR Gurugram commercial retail real estate