Bangalore drives demand for office space in the india
Bangalore Drives Demand
for Office Space in India
Bangalore is one preferred location for
entrepreneurs to start up business in India and
remains the top corporate office destination in
India. Office demand in the first quarter of 2016
increased by 19% to 11.7 msf (million square feet)
across the top eight cities.
Office Space Leasing in 2015
Hyderabad Chennai Mumbai Bangalore
2016 Investment Outlook for
IT/ IteS sector leads the way,
represents 56% of 3Q volume
In Bangalore, total 1.6 million sqft of office space absorption
was recorded over 8 million sqft to year to date. According to
research forecast report, Bangalore represents about 56% of
the third quarter volume.
The major number of office transactions in Outer Ring Road
(ORR) -Marathahalli to Sarjapur Road, JP Nagar, CV Raman
Nagar, Bannerghatta Road, Old Madras Road and Old Airport,
Hebbel, Whitefield, Electronic City.
Among the total share of office space absorption, IT sector
largest leaser of office space in India and major cities
noticed is Bangalore, Hyderabad and Delhi-NCR. The
supply across the eight cities witnessed a huge surge
(41% increases) to 11.1 msf and overall vacancy across
eight cities was seen at 17.12% at the end of Q1 2016, the
lowest vacancy level in 10 quarters.
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