Further, with corporates willing to move their back office functions to less expensive places, suburban destinations like Gurgaon in Delhi and Goregaon in Mumbai have shown increasing activity. Down south in Chennai, despite the perceived over supply of space, the market is picking up with renewed demand for commercial space. The over supply in Chennai and New Delhi have seen that the rentals have remained low, while the rates in Mumbai is firming up.

In the meanwhile, Telco which is looking at its various properties has sold off its corporate office at the World Trade Centre in Cuffe Parade for an estimated Rs. 30 crore. The space has been bought by group company, Indian Hotels Limited, which is planning to use the space as a convention centre.
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Trai ordinance may lapse
New Delhi: The new Telecom Regulatory Authority of India (Trai) ordinance which was introduced on January 24 this year and which had to be ratified by the Parliament may become an unintended victim of the current RSS imbroglio.

If this happens, the implementation of the new telecom policy will face undue delays and the new appellate body that would have been set up for the redressal of disputes will also fall through. This would also mean that the old Trai Act, which the new ordinance was to replace, would come into effect once again.
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