Prime Cities Witness 32% Rise in Office Space Absorption: Cushman & Wakefield Report

After the significant weakening of the realty sentiments in India in 2013-14, the investors were averse about putting their money into this sector. But after coming of Modi government, things changed for the country and for the realty sector as well. The scenario of office space absorption in India is now firming up and experts are suggesting that the commercial real estate of India is going to see its best time soon. Prime Cities WitnessAccording to the report published by Cushman and Wakefield, the office space absorption across prime cities has witnessed an increase of about 32% in the first half of 2015. The study was conducted for Pune, Hyderabad, Delhi/NCR and Bengaluru. This has created a lag between the office demands and office supplies. Though the supply has also increased by 20%, it still faces a crunch as opposed to the demand. This is a good sign for the economy as rising office space points towards more revenue generation for the country. [Read more…]