ASCENDAS india trust ANNUAL REPORT 2014/15
5 Supply, Absorption and Vacancy trends of the City (continued)
The details of some of the major lease transactions in Hyderabad from January to December 2014 are as follows:
Project Name
Micro-market
Lessee
Area Leased
(sq ft)
South Tower, DivyaSree Orion
Madhapur
Accenture
398,657
Block B1B, DivyaSree Orion
Madhapur
Wells Fargo
320,000
Building 12B, Raheja Mindspace
Madhapur
UHG
204,604
TSI 2.1
Gachibowli
Dupont
130,000
TSI 2.1
Gachibowli
Capgemini
122,346
Building 12B, Raheja Mindspace
Madhapur
Prolifics (Semantic Space)
102,302
TSI 2.1
Gachibowli
Birla Soft
70,300
North Tower, DivyaSree Orion
Madhapur
Omics
56,000
North Tower, DivyaSree Orion
Madhapur
Mindtree
48,000
North Tower, DivyaSree Orion
Madhapur
Invesco
46,429
North Tower, DivyaSree Orion
Madhapur
Invesco
46,429
North Tower, DivyaSree Orion
Madhapur
Prokarma
45,000
Source: C&W Research
6 Competition Analysis – Madhapur
Madhapur, one of the established commercial micro-markets in India, has witnessed large scale commercial developments
such as Raheja Mindspace, The V, Cyber Towers, Cyber Gate Way, I labs, RMZ Ventura, Satyam SEZ and aVance Business Hub
as well as the campus developments of TCS and TCL. The surrounding micro-markets of Gachibowli, Raidurg and Kondapur
also have presence of large scale commercial developments such as DivyaSree Orion, DivyaSree Omega, DLF Cyber City,
Q City and Ramky Selenium. Campus developments of Infosys, Wipro, Microsoft, Cognizant and Franklin Templeton are
also located in Gachibowli.
The present stock of office space in Madhapur is approximately 25.5 million sq ft (including The V, CyberPearl and aVance
Business Hub) and accounts for approximately 46% of the office stock in the city. Out of total office space, Grade A office
space in Madhapur is approximately 20 million sq ft (including The V, CyberPearl and aVance Business Hub) and accounts
for approximately 65% of the Grade A office stock in the city. Due to buoyant leasing activity and controlled supply, the
vacancy in Madhapur market was low. The current Grade A vacancy level in Madhapur micro-market is approximately 4.8%.
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H y d e r a b a d C omm e r c i a l M a r k e t O v e r v i e w
