High demand for office space in Bangalore
Bangalore is called the silicon valley for the IT industry in India. The demand for office space is increasing rapidly in Bangalore.
A demand for 3.6 million sq. ft. office space in recorded in the first quarter of 2012.
According to a research agency, the demand for office space in the country has been reduced, while property market in Bangalore witnessed the opposite scenario.
Next to Bangalore, property market in Mumbai has also seen the demand for office space.
The report also indicates that the construction pace has picked up in Mumbai, Bangalore and Chennai.
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New Real Estate projects in Bangalore
Source : The Hindu Business Line
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[...] The demand for office space is increasing rapidly and also the industrial belt on the Thane-Belapur Road also includes Airoli which is emerging as a secondary business district. In the past 3-4 months, the capital value of office space has witnessed an 8-12 per cent appreciation and there was more than 15 percent hike in the rental values of Grade A office spaces. [...]