Indian cities top the ‘lowest office occupancy cost’ : survey
In a report by a global property consultancy firm it is came to know that Hyderabad, Chennai and Pune are among the top five cities in the world with the lowest office occupancy cost.
Total occupancy cost includes real estate price, infrastructure and efficiency of buildings. Costs have come down in these three cities because of depreciation in the rupee and a marginal increase in rentals over the last 12 months.
Rentals in most Indian cities have increased in the last one year, but the rate of rental properties in Pune, Chennai, and Hyderabad have seen only marginal increases.
According to sources the demand for commercial office spaces in India is reducing as many companies are not planning for any expansion in India.
This is good news for the IT and IT-es industry, as there is a perception that prices in India are on their way up, while the reality is slightly different.
It is reflected from the report that some cities in the country still offer an attractive opportunity as outsourcing destinations, as real estate costs have been in control.
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Source: Economic Times
Chennai, commercial office spaces in India, Hyderabad, office occupancy cost, Pune, real estate price, rental properties in Pune
