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Other Developments
A curated list of other prominent stories from this day.
11:26 PMEconomic Times Realty
BNP Paribas leases five lakh sq ft office in Mindspace REIT’s Chennai complex
Summary
BNP Paribas has signed a long-term lease for about 500,000 square feet across four floors at the One Radial complex in Chennai, one of the city’s largest office deals this year. Rents in the area are around Rs 90 per square foot per month.
The scale of the lease strengthens Chennai’s position as a cost-efficient base for multinational operations.
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Why it matters
A major multinational commitment could support Chennai’s office market and reinforce the investment case for its commercial real estate assets.
Rustomjee Group explores senior living foray; sees scope for over 5,000 homes in MMR
Summary
Rustomjee Group is evaluating an entry into senior living and may develop projects independently or with a partner. Chairman and managing director Boman Irani estimates that the Mumbai Metropolitan Region could support more than 5,000 senior living homes.
Rustomjee's move signals that senior living is becoming a larger institutional opportunity in the MMR,
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Why it matters
The potential entry points to a shift from standalone housing toward professionally managed senior living as an emerging real-estate segment in Mumbai.
India office net absorption falls 18% to 14.1 million sq ft in Q3 2026: Report
Summary
Net office absorption across India's eight major cities fell 18% to 14.1 million sq ft in Q3 2026, even as gross leasing reached about 22 million sq ft, its highest level of the year. Hyderabad and Bengaluru led demand, with global capability centres driving activity in the IT and BFSI sectors.
The gap between strong gross leasing and weaker net absorption signals a market with substantial
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Why it matters
India's office market remains active, but leasing volume is masking slower underlying growth in occupied space.