Ashutosh Limaye, National Director – Research, JLL India
India 31 August 2016: Over 10 mn sft occupied in 2015 +2 mn sft in under-construction projects; in 1Q16, city sees highest leasing volumes in APAC
Among the seven major office markets in India, Bengaluru has emerged as the one enjoying lowest vacancy levels. At slightly more than 3%, the office vacancy levels are at an all-time low in the IT capital of India. Bengaluru is followed by other IT hubs like Pune and Hyderabad having vacancy levels of 6% and 9%, respectively. Chennai comes next at around 12%, Kolkata and Mumbai around 19% and Delhi-NCR at almost 32% vacancy levels.
Vacant stock currently (in mn sft)
Demand forecast for CY2016 (in mn sft)