28% fall in Bangalore Property

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In 2016, Bengaluru has faced 28% deficiency in office space. According to top consultants of real estate the demand goes on very high in the Country’s tech capital, in between 2016 developers were incapable in supplying Grade A office.

Ram T Chandnani, managing director, India, Advisory and Transaction Services, CBRE South Asia said, The City will observe supply of approx. 9 million by end of December 2016 opposing 12.5 million square feet consume in 2015.

Till middle June 2016, Bengaluru has consumption o 6 million square feet of Grade A office space, Ram T Chandnani said. Bengaluru witnesses high demand of IT/ IT eS sectors, healthcare, banking, as well as the e-commerce start-ups.

Last year the e-commerce sector assumed for 6% of total consumption. The share of e-commerce companies will trip to 5% of total consumption of office spaces. Chandnani added.

Chandnani said to FE on the sidelines of Core Net Global’s annual conference on Wednesday “Bengaluru has developed as the biggest office market in India by attracting high demand from information Technology and combined industries occupiers. Presence of big floor plates, impressive rentals and support of government has made Bengaluru as an attractive destination. Not presence of ready to move in space set to drop in net consumption this year,’’



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