Robust Growth In Bangalore Commercial Real Estate

With the story remaining intact of India's growth

, Bangalore's MNC and corporates like Mercedes Benz, HSBC, HUL, Capgemini, Schneider and GE continue their expansion programmes with a thrust on striking a bargain deal in the process.

Bangalore's overall absorption of commercial space for the year is likely to touch 9-10 million sq ft according to market sources. The intention to expand in the city is a clear indication of the growing level of confidence among corporates and MNC's. Bangalore continues to remain dominant role as the city with the largest absorption of commercial property in Bangalore and in the country for many years.

Corporates have also started evaluating tier II cities to attract local talents vis-a-vis suburbs in tier I cities in particular for data processing jobs this is expected to keep high end jobs in tier I cities. In the current scenario there are others who are cautiously optimistic. With aggressive corporate business palns will always be double checked over and above the traditional route in order to ensure that they do not commit additional space. With the rentals holding steady the absorption trends look positive for the city.

As there is not many ready to occupy commercial property in areas like Outer Ring Road and North Bangalore due to limited space availability, corporates are scouting for other locations in order to meet their furture requirements.

Bangalore's commercial market will continue to witness limited space absorption for some time due to non-availability of ready to move in space. Corporates looking for BTS format in South Bangalore include VM Ware, Oracle etc. If the current trend is any indication then the demand for BTS format may inch up next year as there is no supply in the desired locations for corporates. Bangalore city may become a market for BTS format office buildings next year, predict industry experts in Bangalore.

Though ready to move-in commercial space is available on Hosur Road and Electronic City, property consultant feel there is limited opportunity for further growth which is one reason for the shifting of their requiremnts towards Outer Ring Road and Whitefield . The Outer Ring Road still continues to be the favoured destination among corporates though the costs are gradually inching high.

As most of the clients are expanding, they have no other choice but to occupy existing spaces made available by the clients or else they will have to go to micro market like Whitefield . Now Whitefield is becoming the preferred hub for space occupiers according to relators and most of the corporates are now favouring Whitefield due to the inherent cost advantages while setting up operation in the area.

The increase in the number of residential and commercial property being developed by the lead developers on Old Madras Road and the improvement in infrastructure and connectivity level, augur well for the corporates to shift their operations towards Whitefields.

by: lokeshmanu24

POST COMMENT

Reasons To Keep An Eye Out For Tucson Real Estate For Sale The Key Factors To Think About Real Estate Investment The Reason Why You Need To Examine Real Estate Investment Books? Residential Project Gurgaon +91 9811 999 666 Real Estate Gurgaon Considering Issues To Make A Sound Real Estate Investment Analysis Maui Property For Sale - Wailea Real Estate - Maui Real Estate Noida Real Estate Consultants For A Good Satisfactory Transaction Make Your Choice With Real Estate Destin Rise In Dubai Real Estate Tucson Real Estate For Sale: Why It Is A Solid Investment Buying A Foreclosure: A Great Way Into Buying Tucson Real Estate Chintels Paradiso Flats Gurgaon +91 9811 999 666 Real Estate Gurgaon What You Think About Real Estate In Bangalore Is It Booming?