Bengaluru, Hyderabad, Chennai dominate the demand for office space in the country : Report – reports that bengaluru hyderabad chennai dominates the demand for office space in the country

Bengaluru, Hyderabad, Chennai dominate the demand for office space in the country : Report – reports that bengaluru hyderabad chennai dominates the demand for office space in the country

New Delhi, Sep 12 (PTI) Bengaluru, Hyderabad and Chennai dominated three cities in South India in the total demand for office space in the country in the last financial year 2020-21. According to a report by Anarock, these three cities accounted for 66 per cent of the total demand for office spaces.

The consulting firm said the office market in South India has outperformed other regions in terms of new supply, demand and even fare hike.

Among the top seven cities, Bengaluru, Hyderabad and Chennai, the share of office space on rent or lease increased to 66 per cent. This figure was 47 percent in 2017-18.

The total demand for office space in the top cities stood at 21.30 million sq ft. In this, the share of these three cities of the south was 14 million square feet. Mumbai Metropolitan Region (MMR) and Pune accounted for 4.5.6 million sq ft or 21 per cent. NCR’s share stood at 23 lakh sq ft or 11 per cent.

In the financial year 2017-18, 31.11 million square feet of area was leased in these top seven cities.

Anuj Puri, Chairman, ANAROCK said, “These three southern cities have registered great growth as compared to the western and north cities on account of IT and IT allied sectors.

Apart from this, the manufacturing and industrial sectors are also playing a role in increasing the demand for these cities.

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