The study, which covered top 29 global technology hubs, rated Bengaluru as the cheapest in office rentals.
Karnataka capital Bengaluru has been ranked world’s most affordable technology hub, followed by Harayana’s Gurugram, as per a survey by a realty consultancy firm Knight Frank. The study, which covered top 29 global technology hubs, rated Bengaluru as the cheapest in office rentals. While Gurugram came second. The report, as accessed by Deccan Herald, says that eastern Whitefield area in the eastern Bengaluru is the most affordable technology district, with a rent of $9.65 (Rs 632) per sq feet.
Whereas, with a rent of $20.40 (Rs 1,335) per sq feet, Gurugram is the only other Indian tech hub featured on the list. Here, the cost to the firm, for employing and accommodating 100 people in the comes to around to $1.3 million (Rs 8.27 crore approximately) annually – ‘termed as lowest in the world’. Speaking to Deccan Herald, Viral Desai, a senior official at Knight Frank India, said that India’s office market witnessed a stellar run in 2016 as compared to the recent past.
He added that it can be fairly accepted that India is home to some of the most affordable Central Business Districts in the world. On the other hand, the survey has placed Zurich, a Swiss city known as a hub of banking and finance, is the costliest on this front.