Office space demand grows in Ahmedabad
Ahmedabad is seeing increasing demand for office space. The entry of new ventures from across India and expansion of local industries have propelled the increased demand.
Commercial capital values have almost been doubled in last two years while the rentals have become thrice. Organised retail has also grown to an unprecedented extent.
The developers and investors are attracted to make investment in the city of late. Capital and rental values of Grade A office space witnessed an appreciation of 20-30 per cent during past quarter, whereas the Grade B office space noted a 10-15 per cent escalations during the same period.
As per the recent JLL report, approximately 3.5 million square feet of commercial space came up in Ahmedabad over the last four years. Another 1.1 million square feet is currently under construction and another 2.5 million square feet will come up in next 2-3 years.
Ahmedabad, Ahmedabad real estate, Ahmedabad realty, commercial capital values, demand for office space, Grade A office space, Grade B office space, Jones Lang LaSalle India (JLL), office rentals, Organised retail
