Commercial real estate transactions, considered a key indicator of economic activity, is showing first signs of stability after a free fall during the early part of this year.
According to real estate consultants, the worst phase for the industry seems to be over as lease rentals both in peripheral areas as well as the central business district (CBD) are showing signs of settling down, in addition to deals getting clinched.
Transaction data show that Chennai and its adjoining areas witnessed more than 1.95 million square feet of property deals in the first half of 2009. The whole of 2008 witnessed transactions for around 4.90 million square feet.
More : timesofindia.indiatimes.com
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