Demand for Office Space in Bangalore Rises Due to Striking Rates

The present commercial real estate in Bangalore has been observing a boost due to the increased demand for office space in spite of the growing improbability in the European markets.

A variety of factors are liable which make the city perfect for investors. Factors like increased connectivity to the Outer Ring Road (ORR), through the state-of-the-art infrastructure, availability of the Special Economic Zone (SEZ) for IT expansions, and up-to-date Metro development passage are mainly responsible for the rising demand in office spaces. 

Bangalore is the only place which abodes the mid-sized firms and small and medium enterprises (SMEs). The global innovation centers prefer Real estate of Bangalore over other cities due to its eco-system and talent pool availability. Furnished Office Space in Bangalore along the ORR and Whitefield are the same as that of the Tier II cities. In addition, the city is also contributing in creating a sustainable business eco-system along with social infrastructure by means of private partnerships. 

In comparison to other countries Indian markets have always remained steady in terms of affordability despite a boost up in 2012. It further has broadened base of occupiers with an increased realistic supply sentiment which is anticipated to get steadiness all through the Indian markets. 

Another report states that the office space for rent in Bangalore viewed the extension of the leasing activity in the beginning of 2013 with the whole vacancy in the city dipping due to the constant demand from the occupiers and the restricted supply. There were no new completions in January in the city and the rentals remained steady in the city’s sub-markets due to the stable demand and controlled supply. Possibly there was an approval in the capital value in the sub-markets.

Presently, cities like Whitefield and ORR are dominating and are the favorite locations due to their competitive prices.  However, one of the key factors liable for determining the location is the cost of business operations. It was stated that these areas are observing a fast growth of SEZ and non-SEZ spaces with aggressive pricing models by the developers.