Office space demand in Mumbai to drop by 15 percent
The demand for commercial spaces in Mumbai city has dropped down!
The real estate analysts have predicted 15 per cent drop in demand based on rising interest rates and global crisis.
Also, one of the reports by global property advisors DTZ say that the demand for office spaces in the commercial realty sector during the year 2011 was 35 million square feet and for the year 2012 the demand has gone down to 30 million square feet.
Meanwhile the inflation is slowly coming under control and with price correction the interest rates are also been going in a right pace!
However, the drop in demand is cautioning the US and European IT-ITES companies set up in Mumbai.
Source: Express India
2011, 2012, 30 million square feet, 35 million square feet, Commercial realty sector, Commercial spaces, Commercial spaces in Mumbai, Demand for commercial spaces, Demand for office spaces, Global crisis, Global property advisors DTZ, Inflation, Interest rates, IT-ITES companies set up in Mumbai, Mumbai, Price correction, Real estate analysts, Rising interest rates
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