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 5 4 3 2 1 0

Hyderabad Chennai

Mumbai

Bangalore

Total Demands of Office Space

2016 Investment Outlook for Commercial Property 57% Less Optimistic than 2015

38%

13%

No Change

More Optimistic than 2015

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.

Rental Values in Bangalore

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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