India office demand reached ten quarter high in Q3: CBRE
India continues to be a key outsourcing location among global corporates and this is reflective in the steady growth in demand for prime office space. A recent trend that has been noted is the increase in demand for small to medium sized office space.
Additionally, the increasing buzz around REITs in India, better alignment of developers with compliances under the RERA Act (which also covers the commercial segment), and trends in the global outsourcing industry are also likely to impact the commercial real estate sector in the coming quarters
All of these reflect in the commercial real estate market in India, which continues to grow at a steady pace. Positive changes in policy and regulations have given a further boost to the sector.
This is the ideal time to capitalize on an office space at the very hub of Mumbai’s commercial space: D.N Nagar, Andheri (West) D.N Nagar, the heart of Mumbai’s Western suburbs, boasts of thriving business and a flourishing socioeconomic neighborhood.
And to specifically zero in, consider Inspire Hub, easily one of the best choices to set up commercial or retail business.
Inspire Hub’s proximity to Link Road and S.V. Road, easy access to metro, rail and airports, and unparalleled connectivity to a host of major residential, lifestyle and commercial hubs of Mumbai, make it the ideal pulse point in a fast-paced business environment.
That's not it! An aesthetically designed imposing air-conditioned lobby that instantly sets the perfect mood for smooth business. To add to its promise as a retail point, there are well-designed spaces, column free for easy movement, and huge glazed windows that add style and dimension.
Signature office suites ranging from 1200 square feet to 50,000 square feet with high ceilings set the precedence for sophisticated high-tech workspaces. Add to it, pocket terraces, stylized washrooms and pantries, business centers with state of the art communication networks, and exclusive cafes, you have all the ingredients for cutting edge business.
Excellent parking spaces, majestic entrance, elegant elevator lobbies, professional management services, advanced security systems, and feather touch high-speed elevators take a business to the highest levels.
A sector-wise analysis of the quarter’s office space take-up revealed that IT/ITeS firms continued to lead office transaction activity, accounting for about 54% of the deal closures. Besides the IT/ITeS sector, BFSI, and Engineering & Manufacturing were the other sectors driving demand for office space. Both these sectors accounted for about 10-11% share each in quarterly space absorption, mostly led by transactions closed in Mumbai and Chennai.
Surely, an investment in Inspire Hub is an attractive way to ride this new wave of optimistic market trends.