Bangalore has highest record for absorption of commercial space in India
Bangalore continued to top the charts with the highest absorption in the country at 11.53 million sq.ft. Chennai and NCR have also witnessed a considerable growth in the space take up during the year accounting for 32 percent and 15 percent respectively compared to the previous year. There has been a surge in absorption of commercial space by eight per cent over the previous year at 35.5 million sq. ft. during last year across the country,Hogan Donna Marrone Interactive Scarpe Sconto grande vendita, according to global real estate consultants Cushman and Wakefield. On the other hand there has been a decline of over 20 percent in total supply entering into the market in 2011 over last year. This has helped marginally reduce the demand to supply gap in the office market, however the overall vacancy is still as high as 18%. According to Anurag Mathur, Managing Director, Cushman & Wakefield India said ?011 has seen some interesting patterns of growth and improvement over the previous year. However,HOGAN NERO CERBIATTO DONNA VALENCIA, the subdued sentiments in the second half of the year may appear to be counter intuitive to the continued growth activities led by the engineering, health care and infrastructure sectors. Though the first half of 2011 was witness to dynamic leasing activities, the second half was more restrained. This highlights that the growing domestic need for economic push seem to have had an effect. One should also be mindful of the fact that the absorption could have been higher had several corporations not deferred their expansion plans in the second half of the year, in the light of weakening economic sentiments in the western markets. IT/ITeS and BFSI sectors, which are the key demand drivers and have the significant share of the absorption,Hogan Progetto Donna Grigio, have seen a clear slowdown in expansion plans,see more, thereby affecting the demand. The Non IT absorption, on the other hand, has registered a 30% growth adding to the positive demand. It may be noted that despite the impending uncertainty on the back of weak global cues, the growth in emerging economies is still expected to be 7% or more, which continues to drive the absorption in difficult times? The total office space supply was recorded at 34.63 million sq.ft. Most of which was delivered in the first two quarters of the year. The total amount was lower by approximately 20% of the anticipated supply. SEZ projects account for nearly 25 percent of the total supply across major cities barring NCR and Ahmedabad. SEZs have attracted substantial pre commitments across all cities and the trend is likely to continue into 2012. The decline in supply as against the anticipated can be attributed to a large pipeline of projects under construction coupled with lower pre-commitments in the latter part of the year, based on a fear of uncertain economic scenario in the next 12-24 months. This has certainly been a factor in making the developers adopt a cautious approach. The developer, in such a scenario,2012 Hogan Interactive Donna Bianco Albicocca in vendita a basso costo, will usually be keen to guard against possible erosion of rents. In Bangalore the peripheral micro market of Whitefield and Electronics City accounted for a significant share of the total absorption of approximately 11.5 million sq. ft. Pre-commitments were also on the higher side. Rentals mostly remained stabilized across all micro markets to retain and capitalist on the inquiries.
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