Commercial real estate activity across top cities in the country could be muted in the first half of 2017 after seeing a mixed trend in the year gone by, according to a property consultant. According to the report, while Bengaluru, Hyderabad and Mumbai saw double-digit growth in office take up in 2016, net absorption in Delhi-NCR was about 4.3 million sq ft, a 9 per cent drop from the previous year, as companies continued to consolidate their offices in Gurgaon and Noida for greater productivity and cost efficiencies. While fall in net absorption of office space was 47 per cent in Pune, it was 20 per cent in Chennai and a 22 per cent in Kolkata.
Read more: Economic Times
