Real estate in many parts of the country is in bad shape. But there’s one big exception – commercial space in Bengaluru. A surge in demand, including from MNCs looking to establish or expand R&D and engineering centres, has left developers scrambling to supply quality office space in time. Some say rental costs in certain areas and properties have increased by 50% in the past two years. It is estimated that only about 3.4% of space in existing buildings is vacant as of June end. A stable market typically has a vacancy of 10%.
Read more: Economic Times
