IT Office Space

NCR, Ahmedabad, and Mumbai witnessed higher demand for offices sized between 50,000 and 100,000 square feet

Benguluru, Delhi-NCR and Chennai led the space absorption, together accounting for 62% of total transaction activity in the first nine months of the Calendat year

Net leasing of office space fell 26 per cent during April-June across seven major cities to 8.5 million square feet as compared to the previous quarter due to lower supply, says JLL India.

Realty firms remain bullish on revival in workspace demand, according to JLL India.

Office space absorption across six major cities in India fell over 50 per cent in 2020, according to a Savills India report

While IT/ITeS continues to grab the lion's share, leasing activity is being driven by increased demand from sectors such as e-commerce, healthcare and FMCG

Office space leasing by IT and ITeS companies rose by 10 per cent last year at 16.81 million sq ft with Bengaluru and Hyderabad absorbing more than 50 per cent of this space, according to JLL India. "IT, ITeS occupiers have taken a big leap in office lease transactions in the last 15 years. Office space demand from them increased from 1.4 million sq ft in 2001 to 15.2 million sq ft in 2015. "With 16.81 million sq ft area transacted in 2016, it translates to a 10 per cent increase (y-o-y)," JLL India CEO & Country Head Ramesh Nair said. Interestingly, he said, Bengaluru and Hyderabad together accounted for more than 50 per cent of this total pan-India IT space absorption. The consultant also said that the transaction sizes are becoming smaller. The average size of leased area fell by 14 per cent to 27,000 sq ft in 2016 from around 31,200 sq ft in 2015. Nair advised developers to design business parks for smaller requirements and shift focus from quantity to quality of ..

BS ReporterHyderabad, 8 June: Despite the global headwinds being experienced by the Indian outsourcing industry, the IT space obsorption has grown 10 percent at 16.81 million square feet area in 2016. More than 50 percent of this pan-India IT space take up was recorded by Bengaluru and Hyderabad cities together, according to real estate consulting firm JLL.In 2015, the office space demand from IT companies stood at 15.2 million square feet area."Indian cities are heavily dependent on IT/ITeS for job generation and office space demand. Last year, the pace of growth of top technology firms was in single digits due to global uncertainty and technological disruption," Ramesh Nair, CEO and country head, JLL India said on Thursday.The IT/ITeS accounted for 70 percent of total office stock at the national level while it was as high as 88 percent in Bengaluru. The share of IT in total office stock was in the range of 50-80 percent Pune (81 percent), Hyderabad(74 percent), Delhi(61 percent) ..