India Office MarketView Q3 2018
- Leasing activity grew by 12% q-o-q to touch 10.9 mn sq. ft. during Q3 2018.
- Bangalore, Mumbai, Hyderabad and NCR accounted for almost 80% of leasing activity.
- Tech corporates (with a share of 48%) drove office space take-up in the country during Q3 2018. They were followed by engineering and manufacturing companies (14%) and agile / co-working / business center operators (11%).
- Supply addition in Q3 2018 dipped marginally by about 7% q-o-q to touch about 7.1 million sq. ft. Bangalore and Kochi accounted for 60% of the quarterly supply addition, followed by Mumbai and Hyderabad.
- Narrowing supply demand gap resulted in rental values rising by about 1-6% on a quarterly basis across several micro-markets in Chennai and Bangalore.