How Southern Cities Dealt With Spiraling Realty Prices?

Commercial real estate:

In south Indian cities like Bangalore, Hyderabad and Chennai, the commercial property segment is in buoyant mode. The demand for commercial property in southern cities is mainly due to the growth of IT and ITeS sector. "Commercial space supply in the southern cities is in line with demand. We have leased 99.4percent of the office space and have an additional 7 million sq ft under execution," said Raj Menda managing director of RMZ Corp, a developer.

According to JLL report, "With a total stock of nearly 140 million sq ft in the major cities of south India, the vacancy rate by end 2012 is expected to be 16 percent, considerably lower than the pan-India vacancy rate of over 20 percent."