“Among the seven major office markets in India, Bengaluru has emerged as the one enjoying lowest vacancy levels. At slightly more than 3 per cent, the office vacancy levels are at an all-time low in the IT capital of India,” said Ashutosh Limaye, National Director – Research, JLL India.
Bengaluru witnessed over 10 million square feet occupation in 2015 and another 2 million square feet under-construction projects. The city sees highest leasing volumes in APAC in the first quarter of 2016.
Bengaluru is followed by other IT hubs like Pune and Hyderabad having vacancy levels of 6 per cent and 9 per cent, respectively. Chennai comes next at around 12 per cent, Kolkata and Mumbai around 19 per cent and Delhi-NCR at almost 32 per cent vacancy levels.