DLF in mega leasing deals

DLF, India's largest realtor by market capitalization, is seeing big traction in its commercial office space leasing business. A source familiar with the development said DLF leased out 8 lakh square feet across the country in September.

It is now expected to sign a mega leasing deal for 1.8 million (18 lakh) square feet in the next 15 days. The deals that DLF has already signed are pre-leased. In realty terminology, this means it will take 6-12 months before companies move into the premises after fit-outs or furnishings, etc.

In Gurgaon, DLF has leased space at Rs 60 per square feet per month and in other places at between Rs 40 and Rs 50 per square feet per month. The leasing agreements signal recovery in commercial realty segment, but DLF is still not ready to re-launch projects that it had put on the backburner.