Thousands of commercial spaces unoccupied
It has been traced that several thousands of commercial space is lying idle in many cities like; Chennai, Pune, Bangalore, Kolkata, Delhi NCR. Developers in these cities have built up many buildings in huge spaces which is hardly being used.
Real estate experts say that the commercial real estate market all over India is facing huge crisis.
In Mumbai, nearly 50 million square feet of commercial space is left un-used, especially at Nariman point.
Around 21 million square feet in Chennai, 6 million square feet in Ahmedabad and 25 million square feet in Bangalore are all experiencing same downfall scenarios in real estate.
Source: Financial Chronicle
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