{"id":20019,"date":"2013-07-10T17:02:42","date_gmt":"2013-07-10T11:32:42","guid":{"rendered":"http:\/\/www.bharatestates.com\/blog\/?p=20019"},"modified":"2020-06-15T03:58:41","modified_gmt":"2020-06-14T22:28:41","slug":"hyderabad-office-traction-q1-2013","status":"publish","type":"post","link":"https:\/\/www.bharatestates.com\/blog\/hyderabad-office-traction-q1-2013\/","title":{"rendered":"Hyderabad Office Traction- July, 2013"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-20020\" alt=\"hyderabad-office\" src=\"https:\/\/www.bharatestates.com\/blog\/wp-content\/uploads\/2013\/07\/hyderabad-city.jpg\" width=\"300\" height=\"250\" \/>The global economic slowdown has widely affected the commercial real estate sector in various cities across the country. The absorption of office space has declined and launch of new supply has further delayed in various office markets. Indian office market is now turning into demand driven office market. The sentiments of companies have changed with global downfall of the economy. Cost reduction has been the primary concern of prominent office absorbers across most sub markets.Mumbai, Bangalore and Hyderabad have been the major conventional office space markets in India, but with changing circumstances and market sentiments, office market is slowly shifting towards areas like Pune and NCR. Hyderabad has contributed only for 2 per cent of the total office absorptions witnessed across the country in the first quarter of 2013 and no notable new supply entered Hyderabad office market. Hyderabad is divided in various business districts depending on the demographics of the city- Central Business District (CBD), Secondary Business Districts (SBD), Peripheral Business Districts (PBD), IT Corridor and Extended IT Corridor.<b>Central Business District (CBD)<\/b><\/p>\n<ul>\n<li>CBD comprises areas like Begumpet, Somajiguda, Punjagutta and parts of Banjara Hills<\/li>\n<li>\u00a0Absorption recorded in CBD was accounted for 80,000 sq ft with maximum demand for small and medium office spaces.<\/li>\n<li>With decent absorption and negligible supply the vacancy level in CBD dropped to 6.3 per cent in first quarter.<\/li>\n<li>2-3 per cent increase was observed in demand of the office spaces as demand of Grade-A IT developments increased in the first quarter of 2013.<b><\/b><\/li>\n<\/ul>\n<p><b>Secondary Business Districts (SBD)<\/b><\/p>\n<ul>\n<li>Includes areas like Ameerpret, Jubilee Hills, Sarojini Devi Nagar and Himayat Nagar<\/li>\n<li>No significant new supply was observed in the first quarter<\/li>\n<li>Rental activities remained inactive in this quarter<\/li>\n<li>No notable leasing activity occurred in the first quarter<\/li>\n<\/ul>\n<p><b>Peripheral Business Districts (PBD)<\/b><\/p>\n<ul>\n<li>Uppal, Pocharam and Shamshabad are the important micro markets in PBD<b><\/b><\/li>\n<li>PBD slight increase in the demand of large scale campuses and consolidations<b><\/b><\/li>\n<li>No new supply was added to the office stock of the PBD<b><\/b><\/li>\n<li>No supply and no demand kept the vacancy level as it was in the previous quarter<b><\/b><\/li>\n<\/ul>\n<p><b>IT Corridor and Extended IT Corridor<\/b><\/p>\n<ul>\n<li>IT corridor covers up areas like Madhapur, Kondapur and Gachibowli and Extended IT corridor includes Raidurg, Manikonda and Kramguda<\/li>\n<li>IT<b> <\/b>corridor witnessed notable increase in the enquiries concerning big office spaces from IT\/ITeS companies<\/li>\n<li>The total absorption in the first quarter recorded at around 70,000 sq ft in IT corridor<\/li>\n<li>No new supply was observed in the IT Corridor, but 24,000 sq ft of secondary supply entered the micro market<\/li>\n<li>No new supply was added in the Extended IT corridor<\/li>\n<li>Rental values increased by 5-6 per cent IT corridor and by 2-3 per cent in Extended IT Corridor<\/li>\n<\/ul>\n<p>Hyderabad is most likely to witness increased absorption of the office space in second and third quarter of 2013.\u00a0 Till the end of 2013 about 6.2 million sq ft of office space is most likely to open in the IT and Extended IT Corridor. Demand for office spaces in Hyderabad will see steady downfall in next few months. With increased supply and degrading demand, overall Hyderabad market will remain sluggish for next few months.<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>The global economic slowdown has widely affected the commercial real estate sector in various cities across the country. The absorption of office space has declined and launch of new supply has further delayed in various office markets. Indian office market is now turning into demand driven office market. The sentiments of companies have changed with [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-20019","post","type-post","status-publish","format-standard","hentry","category-prop-trendz"],"blocksy_meta":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Hyderabad Office Traction- Q1, 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\/hyderabad-office-traction-q1-2013\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hyderabad Office Traction- Q1, 2013\" \/>\n<meta property=\"og:description\" content=\"The global economic slowdown has widely affected the commercial real estate sector in various cities across the country. The absorption of office space has declined and launch of new supply has further delayed in various office markets. Indian office market is now turning into demand driven office market. 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