For some time, corporations having booked their office spaces were facing a severe supply crunch in right product-right place commercial reality. In this kind of a dim outlook, some of the developers in Bangalore are showing a ray of hope by completing their office space projects a couple of quarters ahead of the schedule.
This is perhaps because these developers took a cue from the existing situation arising out of strong pre-commitments and demand for office space. Accordingly, in the forthcoming future scenario, other developers are likely to follow suit sensing the kind of urgency borne out by the strong absorption trends in Bangalore.
With India’s growth prospects looking bright, corporations have been in an expansionary mode in major Indian cities. The vacancy has steadily been coming down. With reduces levels of supply and vacancy, rents have also been on the rise in commercial properties of A Grade and B Grade categories.
Bangalore has depicted only four to five percent vacancy in office spaces across its 90 million sqft of office space. Developers in Bangalore are said to be strongly adaptive performers and this has in store more ahead of schedule completions in future years to come.