According to real estate services firm CBRE, there is a 10% increase in rentals for commercial space over the past one year. The top five micro markets that saw increase in rentals are Cybercity in National Capital Region, Koramangla in Bengaluru, Andheri East and Goregaon in Mumbai and Kukatpally, Manikonda in Hyderabad. The cities that led the demand include Bengaluru and Gurgaon. Almost 10% of the total office market demand is currently driven by ecommerce companies.
In 2015, these companies leased 4.3 million SF compared with 0.54 million SF in 2014, as per CBRE. India. Taxi service provider Ola, for instance, recently leased 20,000 SF of prime office space at Embassy Golf Links in Bengaluru, while online marketplace Snapdeal rented 0.43 million SF in Gurgaon and Pinelabs, a payment solutions firm, leased 60,000 SF in Noida. Housing.com took 0.15 million SF on rent in Supreme Business Park, Mumbai and Oyo Rooms leased 0.1 million SF in Space Palazo, Gurgaon.
