{"id":16253,"date":"2013-04-08T06:34:36","date_gmt":"2013-04-08T06:34:36","guid":{"rendered":"http:\/\/www.bharatestates.com\/blog\/?p=16253"},"modified":"2020-06-15T04:15:35","modified_gmt":"2020-06-14T22:45:35","slug":"16253-office-space-demand-projected-to-reach-30-5-million-sq-ft","status":"publish","type":"post","link":"https:\/\/www.bharatestates.com\/blog\/16253-office-space-demand-projected-to-reach-30-5-million-sq-ft\/","title":{"rendered":"Office Space Demand Projected to Reach 30.5 Million sq ft"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-16254\" alt=\"office-space\" src=\"https:\/\/www.bharatestates.com\/blog\/wp-content\/uploads\/2013\/04\/officespacenew.jpg\" width=\"300\" height=\"250\" \/><strong>Mumbai:<\/strong> According to DTZ a global <a href=\"http:\/\/www.bharatestates.com\">real estate advisor<\/a>, the demand for office space is going to increase to 30.5 million sq ft in 2013. This demand has occurred due to the change of market sentiments. Most companies are considering expansions due to the stability coming in the global economy.Local market sentiments are improving as the fear of market is fading due to stability arriving in the global economy. The amendment of including 51 per cent FDI in multi brand retail also enhanced the sentiments positively.As a result, demand for office spaces, is expected to reach 30.5 million sq ft which will be 12 per cent higher compared to the year 2012. The increase will also include expansion plans delayed because of the slow global economy.Out of 30.5 million sq ft, 15 million sq ft is expected to be taken by the IT sector. Whereas last year, IT sector had taken up 12 million sq ft which means it has been increased by 24 per cent. Demand from BFSI sector will also see the boost in the demand after acceptance of Banking (Amendment) Bill.FY14&#8217;s (fiscal year 14&#8217;s) office demand will be affected largely by the expansion of businesses along with IT and retail sector. Increase in the rentals can be seen over the next 12 to 24 months, though rentals will remain stable in the start of the 2013.CEO of DTZ said that the Banking Bill is intended to attract foreign investment and will also cover way for RBI to issue new banking licenses to private sector.<span style=\"left:100%;display:inline-block;position:fixed\"><a href=\"http:\/\/rusbankinfo.ru\/\">\u0437\u0430\u0439\u043c \u043d\u0430 \u043a\u0430\u0440\u0442\u0443 \u0431\u0435\u0437 \u043e\u0442\u043a\u0430\u0437\u043e\u0432 \u043a\u0440\u0443\u0433\u043b\u043e\u0441\u0443\u0442\u043e\u0447\u043d\u043e<\/a><a href=\"http:\/\/rusbankinfo.ru\/credits.html\">\u0432\u0437\u044f\u0442\u044c \u043a\u0440\u0435\u0434\u0438\u0442 \u043e\u043d\u043b\u0430\u0439\u043d<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mumbai: According to DTZ a global real estate advisor, the demand for office space is going to increase to 30.5 million sq ft in 2013. This demand has occurred due to the change of market sentiments. Most companies are considering expansions due to the stability coming in the global economy.Local market sentiments are improving as [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-16253","post","type-post","status-publish","format-standard","hentry","category-realty-news"],"blocksy_meta":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Office Space Demand Projected to Reach 30.5 Million sq ft -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bharatestates.com\/blog\/16253-office-space-demand-projected-to-reach-30-5-million-sq-ft\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Office Space Demand Projected to Reach 30.5 Million sq ft -\" \/>\n<meta property=\"og:description\" content=\"Mumbai: According to DTZ a global real estate advisor, the demand for office space is going to increase to 30.5 million sq ft in 2013. This demand has occurred due to the change of market sentiments. 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