The popular suburban relocations in the metros are Gurgoan in Delhi, Bandra-Kurla Complex in Mumbai, Whitefields in Bangalore and Old Mahabalipuram in Madras.

According to data collected by Colliers Jardine research division, the list of companies that shifted to Gurgoan include Smithkline Beecham, British Airways (both acquired about 30,000 square feet each in suburbs) and BankAm. Coca-Cola is another MNC which has relocated its corporate office from Nehru Place in Delhi to DLF Plaza at Gurgoan acquirign about about one lakh square feet.

In Mumbai, Citibank relocated its offices toBandra-Kurla complex from the leased premises at Nariman Point. Term-lending institution ICICI has also shifted its corporate office to the complex from Backbay Reclamation. Even Industrial Development Bank of India, which has its headquarters at Cuffe Parade, south Mumbai, has also taken up a new office in the Bandra Kurla complex. Others who are migrating to the complex in western suburbs are Wockhardt, Alpic Finance and Gammon India.

According to the research report, "consolidation of real-estate portfolios by multinationals and corporates, in a bid to rationalise occupancy costs, has been the key demand generator in most markets--whether in commercial, industrial or residential markets."

In Chennai, commercial-sale transactions in the central business district (CBD) area of Anna Salai and Nugambakkam have witnessed fall in values with companies preferring to relocate to outskrits like Old Mahabalipuram Road. Companies like Mahindra Ford, Hundai and Dupont have shifted their offices from the city tothe outskirts of Chennai, a Colliers Jardine paper said.

Colliers Jardine CEO Akshaya Kumar told The Financial Express: "The relocation is necessary, particularly in Mumbai and Delhi where the CBDs are extremely costly and suburbs generally offer superior office space at cheaper rates."

Another southern metro Bangalore is also witness to comparatively higher levels of activity in the scondary business districts, particularly on Infantry Road, Cunnigham Road and Richmond Road. The extended secondary CBD areas are popular with corporations looking for large independent facilities. Most of the transactions recorded originated from software and information technolgy companies, said the Jones Lang LaSalle report.