Bengaluru: Supplies of new
office space in
India are set to pick up in the coming years, thanks primarily to strong demand in the southern cities that are home to large technology companies, show estimates by real estate consultancies.
JLL India predicts supplies in the top seven cities to touch 218 million sq ft by the end of 2022, about 32% more than the 166 million sq ft of office space added in the five years through 2017. The driver of this will be increased launching and leasing activity in the southern cities of Bengaluru,
Hyderabad and
Chennai.
“Currently, the most sought-after business districts in India are facing the pressure of limited office space supply. However, going forward, we have a clear visibility of healthy supply which in turn is expected to boost the growth in office space absorption,” said Samantak Das, national director at JLL India.