14% slowdown in office space consumption
According to international real estate consultancy CBRE’s India Office Market View 2012, the absorption of office space had a sequential fall of 14% across seven key cities ended September, a fall of about six million sq ft, compared with about seven million sq ft in the previous quarter.
National Capital Region (NCR), Mumbai and Bangalore, which accounted for about 75% of the entire transacted space in the previous quarter, saw their share fall to about 62%, while other prominent office markets such as Hyderabad and Chennai saw an increase.
This slowdown in demand may continue in next few months where as the rental values remained largely stable across most micro markets.
bangalore office spaces, commercial office space, commercial office spaces, commercial office spaces in India, India Office Market, mumbai office spaces, office space commercial
