Close to 7.3 million sq.ft. of office space supply entered the market in Q4 2013, as compared to less than 3 million sq.ft. in Q3 2013.
Close to 7.3 million sq.ft. of office space supply entered the market in Q4 2013, as compared to less than 3 million sq.ft. in Q3 2013. This was led largely by a number of commercial and SEZ developments that had been delayed over the previous two quarters, and were finally completed in Q4 2013. Pune led these project completions, followed by Bangalore and Hyderabad—together contributing to about 71% of the total new supply in India’s top office markets in the last quarter of 2013.
The fourth quarter of 2013 accounted for around 7.3 million sq. ft. of new office space addition across India’s major cities, with this supply distribution lead by Pune (30%), Bangalore (26%), and Hyderabad (15%). During the fourth quarter, prime office space supply in Pune grew significantly q-o-q—registering above 2.0 million sq. ft. of fresh space, as compared to less than 50,000 sq. ft. of supply addition in Q3 2013. To read more please visit - indiarealtynews.com
