Bengaluru remained on a high growth trajectory and maintained its leading status among the key cities, by retaining a 31% share of the total occupier demand, followed by Delhi-NCR (18%.) Hyderabad and Chennai stood on 13% each, while Mumbai, Pune and Kolkata accounted for 14%, 9% and 2%, respectively, of the overall leasing volume. In 2016, 27.2 million sq ft (2.53 million sq metres) of grade A new supply was released into the market. This was insufficient to cope with the very strong demand, especially in markets such as Bengaluru, Hyderabad, and Pune and resulted in a significant fall in vacancy levels and an increase in office rents in most of the micro-markets in these cities.
Read more: Moneycontrol
