IT leasing drags Mumbai, NCR realty market down
Real estate leasing by Information Technology (IT) and IT-enabled services (ITes) sector firms have shown a downturn in Mumbai and National Capital Region (NCR) during this year.
According to data shown by DTZ, an international real estate research firm, Bangalore boosted by the share of IT/ITes in the total office space transaction surging from 55 per cent in 2011 to 75 per cent till May 2012.
In Mumbai, the IT/ITeS share in total office space transaction fell from 45 per cent in 2010 to 18 per cent in 2011 and 11 per cent till May.
In Delhi/NCR, the share in the total leasing is showing a downfall. IT/ITeS, which formed 42 per cent of the total leasing in 2011, made up 34 per cent of the total in the first half of 2012.
An estimated growth of 11-14 per cent is expected from the IT/ITes sector in financial year 2013, according to Nasscom.
To read more real estate news:
Commercial real estate in Hyderabad is supported by IT growth
Source: Business Standard
Bangalore, DTZ, Information Technology, IT leasing, IT-enabled services, Nasscom, National Capital Region, Office space, office space transaction, Real estate leasing, Real-estate market
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