Bengaluru is staring at a shortfall in office space this year, with demand pegged at 10 million sq ft while supply is expected to be 8-8.5 million sq ft. Barely 4-5% of Bangalore’s total stock of 96 million sq ft of grade-A non-captive office space is available on lease, according to a real estate services firm. In 2015, Bangalore saw transactions for about 15 million sq ft of office space. The demand was driven by the IT-ITeS companies looking to expand their businesses and footprint in Bangalore. E-commerce firms and corporate offices of manufacturing firms were also actively seeking spaces on rent in the city.
Read more: Economics Times
