Diabytes
Office space absorption News
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Annual supply for prime office space was over 29 million sq ft during the year, a decline of about 18 percent as compared to 2016.
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Southern cities dominated the office absorption pie with Bengaluru at the top.
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Office space leasing in seven major cities touched a 10 quarter high at 11 million sq ft during July-September with corporates remaining upbeat on their expansion plans, according to property consultant CBRE.
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Even in the backdrop of global slowdown concerns, nearly 10.4 million sq ft of office space was absorbed in the country during April-June, backed by demand from sectors like IT, BFSI and manufacturing, a report said.
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Office rentals also increased in the seven cities - Delhi-NCR, Mumbai, Bengaluru, Chennai, Pune, Hyderabad and Kolkata.
The country's IT capital is expected to see the highest office space absorption among the key cities of India next year, says the latest office report by global real estate consultancy firm Cushman & Wakefield.
DTZ describes take-up as floor space acquired for occupation that includes offices let to an eventual occupier and developments pre-let or sold.
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