Bangalore drives demand for office space in the India

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Bangalore Drives Demand for Office Space in India
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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.
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Office Space Leasing in 2015
Hyderabad
Chennai
Mumbai
Bangalore
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Total Demands of Office Space
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2016 Investment Outlook for Commercial Property
57
Less Optimistic than 2015
No Change
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38
More Optimistic than 2015
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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.
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Rental Values in Bangalore
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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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