Report Says 132 million sq ft Office Space to Get Absorbed by 2017

office-spacesAfter the strong revival of the economy, a renowned real estate consultancy firm projected that office space absorption may reach to 132 million sq ft across the eight major metro cities by the year 2017.According to the report presented by this consultancy firm, the present year will however see a decline in office space absorption to around 22.5 million sq ft area due to the current slowdown in the economy. The report further added that in the prime cities like Mumbai, Bangalore, Chennai, Delhi –NCR, Hyderabad, Ahmedabad and Pune , the office space absorption is estimated to go around 143 sq ft, between 2013 to 2017. Out of this 143 sq ft area, around 90 million sq ft space is already under different construction stages and is expected to get completed by 2015.As the economy is expected to be more stable from 2015, the absorption trend is likely to pick up speed in established real estate markets of Mumbai, Delhi-NCR and Bangalore.The report said that absorption of the office spaces in 2013 in the prime eight cities is projected to be over 22.5 million sq ft with a fall of around 26% over 2012. But the trend in the office space consumption is likely to catch up speed by 2015 with a projected absorption of 28 million sq ft area.According to sources, the commercial segment has observed substantial delay in supply due to the fall in demands and delay in the regulatory approvals.The growth in the sector can be observed from second half of 2014 as the leasing activities will be escalated with respect to emergence of new companies in India, extension of existing offices and certainly the relocation and merging activities that is expected to continue.займ на карту без отказов круглосуточновзять кредит онлайн

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