Mumbai: The office space supply is declining in the real estate market and demand of office spaces will also be moderate in the near future which will most likely to put rental values under pressure for some time. Recent reports suggested that the office space added in the market during third quarter of the year was declined by about 50 per cent.The third quarter observed new supply of less than 3 million sq ft which was much lower than the previous year’s same period office supply in the market. Whereas the second quarter of the current year observed 75 per cent new supply.The corporate world is now looking for expansion and relocation of their office spaces which will offer them lower rentals hence it is possible that this will result in moderate or low office space demand in the market.The slowdown in the construction industry will shrink down the new supply coming in the market which will increase the pressure on the rental values of the properties available in the market.Top metro cities including Mumbai, Bangalore, Delhi NCR, Chennai, Pune and Kolkata observed increased rental office space absorption in the third quarter of the current fiscal year. Absorption observed was about 20 per cent less than the previous year’s same period absorption of 8 million sq ft.Only Chennai’s office market observed the increased demand in the third quarter of the year with Grade-A office absorption of about 1.68 million sq ft. Premium office space markets like Gurgaon and Noida observed absorption of about 1.6 million sq ft and 0.4 million sq ft respectively.займ на карту без отказов круглосуточновзять кредит онлайн