- Pics:Salman Khan thanks fans after acquittal in Arms Act caseDeepika confess romancing with Ven DieselHairstyle trends to look fabulous10 top revelations in Rishi Kapoor's Khullam KhullaFresh snowfall disrupts life in Kashmir ValleyMona Lisa celebrates haldi inside 'Bigg Boss' houseMercury remains below freezing in HimachalWhy Javed Akhtar still rules the roost at this ageWhy people love Dangal girl ZairaDiljit Dosanjh to star in Punjabi superhero film
The Indian U-17 football World Cup team lost 0-1 against Iran in the Granatkin Tournament
Indian top cities to see office space oversupply Last Updated : 04 Oct 2012 07:52:43 PM IST File photo related to office space.
Top eight cities of the country would witness an excess supply of office space to the tune of 21 per cent over the next five years, according to a projection by global realty consultant Cushman & Wakefield.
The consultant has estimated commercial office space demand of over 180 million square feet in the next five years (2012?16) in the top 8 cities of the country, while it has projected supply at 219.6 million sq ft.
Mumbai would witness "highest demand and supply over the next five years", C&W said in a statement.
Besides Mumbai, the other seven cities are NCR (including Delhi, Gurgaon and Noida), Bangalore, Chennai, Pune, Hyderabad, Kolkata and Ahmedabad.
"Based on expected recovery of the economy, partly due to global recovery, but largely due to the positive signals being sent out by the government to promote business investments, office space demand is expected to witness a positive growth of 10 per cent in 2013 and 20 per cent in 2014," C&W Executive Managing Director (South Asia) Sanjay Dutt said.
Mumbai would witness a demand of 44 million sq ft against a supply of 52 million sq ft, but demand and supply of office space in Bangalore has been pegged at 31 million sq ft each.
NCR would have an oversupply of 44 million sq ft against a demand of 28 million sq ft. In Hyderabad, the office supply is expected at 26 million sq ft against demand of 23 million sq ft.
The demand-supply scenario in Chennai and Pune would be almost matching. In Chennai, supply and demand are expected at 23 million sq ft and 22 million sq ft, respectively while in Pune, supply would exceed demand by one million sq ft at 16 million sq ft.
Supply and demand in Kolkatta are pegged at 14 million sq ft and 9 million sq ft, respectively. In Ahmedabad, the consultant has projected supply at 13 million sq ft and demand at 8 million sq ft.
For Latest Updates Please-
Join us on
Follow us on
Post Your Comment (0 posted):
Bollywood superstar Salman Khan on Wednesday thanked his supporters after getting acquitte
- Every decade has brought something new: Amitabh Bachchan
- Like doing things which are tough, says Hrithik
- Deepika confess romancing with Ven Diesel
- Priyanka back to work after injury
- As the drama unfolded before Salman Khan's acquittal, read details
- Mona Lisa celebrates haldi inside 'Bigg Boss' house
- Why Javed Akhtar still rules the roost at this age
- Pics: Why people love Dangal girl Zaira
When "Kaa" the hypnotic, yellowish Indian Rock Python hisses and casts a spell on Mowgli i
Samsung India on Tuesday announced the launch of its new smartphone powerhouse 'Galaxy C9