Economy

Office space absorption edges down

| | Updated on: Apr 19, 2012

Office space absorption across seven top cities in the country in 2011-12 was two per cent lower at 38.2 million sq.ft. in 2011-12 as against 39 million sq.ft. the previous year, according to a report from property consultant Knight Frank.

The cities surveyed were Mumbai, Bangalore, Pune, Chennai, Hyderabad, Kolkata and the National Capital Region.

Dr Samantak Das, National Head-Research, Knight Frank, said this is despite the popular belief that 2011-12 was a dull year for the office market.

However, the off-take during 2012-13 is expected to be considerably lower than the previous two years and this will make it all the more challenging for developers to maintain existing levels of rent, he added.

Published on March 12, 2018

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