{"id":16600,"date":"2013-04-14T11:32:50","date_gmt":"2013-04-14T11:32:50","guid":{"rendered":"http:\/\/www.bharatestates.com\/blog\/?p=16600"},"modified":"2020-06-15T04:14:49","modified_gmt":"2020-06-14T22:44:49","slug":"16600-office-space-absorption-improves-in-first-quarter-of-2013","status":"publish","type":"post","link":"https:\/\/www.bharatestates.com\/blog\/16600-office-space-absorption-improves-in-first-quarter-of-2013\/","title":{"rendered":"Office Space Absorption Improves In First Quarter Of 2013"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-16601\" alt=\"offica-space\" src=\"https:\/\/www.bharatestates.com\/blog\/wp-content\/uploads\/2013\/04\/offica-soace.jpg\" width=\"300\" height=\"250\" \/><strong>Delhi<\/strong>: The Indian <a href=\"http:\/\/www.bharatestates.com\/\">commercial property market<\/a> had been slow for quite some time. Many companies had been taking advantage of this sluggish market and leasing spaces for future expansion. But in the first quarter of 2013 the office space market seems to have fared better than what it did in the first quarter of 2012. This has been found out by a recent study conducted by CBRE South Asia.Lease of office space is the biggest indicator of commercial property market as well the state of business in a country. In the first quarter of 2013 i.e. between January and March, 6.6 million sq ft of office space had been taken up. This is a 37% improvement on the absorption rate in the first quarter of 2012. Office space absorption rate was steadily declining between 2011 and 2012 when it decreased from 35 million sq ft in 2011 to 26 million sq ft in 2012.Property consultants and advisors see pick up in leasing as a positive trend. They are of the opinion that this is reflection of the good shape of economy and future scope for business expansion and consolidation. The downward trajectory that was the general trend of 2012 seems to have reached a stable trend in 2013. According to the CBRE report this improvement may be an outcome of the easing of the base rates by the Reserve Bank of India. The base rate had been lowered by 50 bps since the beginning of 2013.Large multinationals have taken up offices in Gurgaon and Noida in Delhi NCR. This has put the two cities in the lead for cities with fastest fill up of office space. American Express and Cairn Energy each have leased 200,000 sq ft of space in Gurgaon. In the same city Salient BPO has taken up 40,000 sq ft space and Convergys has taken up 250,000 lakh sq ft of space. In Noida Fiserv has taken up 200,000 sq ft of space.&nbsp;<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>Delhi: The Indian commercial property market had been slow for quite some time. Many companies had been taking advantage of this sluggish market and leasing spaces for future expansion. But in the first quarter of 2013 the office space market seems to have fared better than what it did in the first quarter of 2012. [&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-16600","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 Absorption Improves In First Quarter Of 2013 -<\/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\/16600-office-space-absorption-improves-in-first-quarter-of-2013\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Office Space Absorption Improves In First Quarter Of 2013 -\" \/>\n<meta property=\"og:description\" content=\"Delhi: The Indian commercial property market had been slow for quite some time. 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