Office space absorption in Delhi-NCR declined by over 8 per cent last year due to sharp fall in supply but the situation is expected to improve in 2017 with completion of several commercial projects, according to a property consultant. According to the data, office space leasing stood at 8.6 million sq ft during 2016 compared to 9.4 million sq ft in the previous year. Office space supply plunged to 2.8 million sq ft last year from 10.2 million sq ft in 2015, the data showed.
Despite drop in office space absorption during 2016, the Delhi-NCR market along with Bengaluru dominated office leasing on an annual basis, accounting for about 47 per cent of the overall space take-up.
Read more: Business Standard
