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After the residential real estate market made a comeback earlier in the year, now it is the turn of the commercial real estate market. With the world economy on a upswing, lot of companies are looking at expanding hiring more people and expanding their office space. Commercial Real Estate had been a laggard earlier in the year when Residential Real Estate was on a upswing. This is even more so for the metros and holds good for purchase as well as rent.

By the end of 2010, commercial real estate should bounce back. 2009 was a tenant’s market and 2011 will be owner's market. Take capital value of office space in Gurgaon. At the peak of recession, the office space was sold at Rs 10,000 to Rs 11,000 per square feet. Now, the same office space is being sold at Rs 14,000 to Rs 15,000 per square feet. Same is true for rentals as well - At the peak of recession, the office space in Nehru Place was being rented at Rs 80-90 per square feet. The same office space is being rented at Rs 100-110 per square feet. This is expected to go higher till mid 2011 and then it shall stabilize.

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