Five Indian cities in the world's least expensive office space list

Written by Reuters | Mumbai | Updated: Feb 25 2014, 22:33pm hrs
TravelFive Indian cities in the world's least expensive office space list
Five Indian cities of Hyderabad, Chennai, Pune, Bangalore and Kolkata are among the top 10 least expensive office space markets in the world, according to latest findings of DTZ Global Research.

According to the report, Hyderabad has overtaken Surabaya (Indonesia) as worlds least expensive office space market. Chennai, however, retains its position as worlds third least expensive office space market. Pune and Bangalore occupy fourth and fifth position respectively in least expensive office space market ladder, says DTZ. Kolkata has entered the list of world's top 10 least expensive office space market.

DTZ says that Indian tier II markets will continue to offer occupiers the worlds most affordable office space.

"Occupancy costs and productivity are positively correlated in most South Asian markets, implying that office space is fairly priced within the region," it said.

Meanwhile, Mumbai stands as the sixth most expensive office space market in the world, while Delhi is at 20th position.