Office space take-up dips in Jan-Mar

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Mumbai | Published: April 8, 2015 12:51:43 AM

The total Grade A office space take-up in January to March 2015 stood at more than 5 million sq ft...

The total Grade A office space take-up in January to March 2015 stood at more than 5 million sq ft — which has halved on a quarter-on-quarter basis, while posting a fall of 22% year-on-year.

As most corporates were finalising their real estate plans for the year, few transactions were implemented, CBRE, global property consultants, said in its Q1 2015 India Office Market View report.

Anshuman Magazine, chairman and managing director, CBRE, South Asia, said, “Demand for prime office space is expected to pick up in coming months as occupiers implement their business plans across cities. The quantum of pre-commitments made in Q1 is likely to boost the space take up, going forward.”

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