‘Oversupply in realty to keep pressure on rent’

‘Oversupply in realty to keep pressure on rent’

New Delhi: Oversupply in the commercial real estate space will continue to put pressure on the rental values despite a marginal increase witnessed across major metros in the country, the latest ‘Office Market View’ by international property consultants CB Richards Ellis said.

The report that covers pricing trends for the first three months of this year said the central business districts of Kolkata recorded the highest rise, both in the rental as well as capital values, of 11% and 20%, respectively.

Rental values in the Delhi-NCR’s central business district witnessed a rise of 4% while they remained constant in Mumbai, Chennai, Hyderabad and Pune.

Bangalore’s market remained the only exception, where rentals corrected further by 4%.