Office space absorption contracted 18% to 14.5 million sq ft in India’s top eight markets in the first half of 2016 compared to that a year ago, according to a report, which attributed the decline after six consecutive quarters of expansion to shortage of fresh supply. The report said there was office space shortage in Bengaluru, Pune, Chennai and Delhi-National Capital Region, which led to a mixed trend in net absorption during the period. Hyderabad, Delhi-NCR and Ahmedabad saw 10-55% year-on-year growth while Kolkata, Bengaluru, Chennai, Mumbai and Pune suffered 34-51% decline during the first six months of the year.
Read more: Economic Times
