According to VCCircle.com, global real estate consultancy firm Cushman & Wakefield has reported that Bangalore, NCR, Mumbai, Hyderabad, Pune, Chennai, Ahmedabad, Kolkata are the top eight cities that are expected to have a robust supply pipeline of 46.4 million square feet of office space available in 2015. The release said this supply is likely to favor tenants, presenting them a variety of quality options to choose from and negotiating power in the short term.
The overall vacancy for top eight cities, is estimated to rise to 19% this year. The rise will be fueled by companies in IT-ITeS, banking, financial services and insurance sectors (BFSI), pharmaceutical and manufacturing sectors which are expected to ramp up their operations due to the impact of improved business sentiment, political stability and India’s economic scenario.
