DLF is hopeful of increase in commercial leases

The largest real estate developer, DLF Ltd is hopeful of a revival in the commercial leasing sector, especially in the IT and banking space.

The developer is hopeful of leasing 3-4 million square feet (msf) of commercial office space in fiscal 2011, a growth of 390-520 per cent over 0.76 msf of office space leased out in the last fiscal.

The developer has already started seeing an increase in lease enquiries as 0.6 msf of the total 0.76 msf of office space was leased out in the last quarter. Its rental income grew from Rs540-crore in 2009 to Rs750-crore in 2010.