Press Release Summary: The rental gap between IT and ITes office space and others is widening as per the latest report by real estate consultant Jones Lang La Salle, leading to a severe supply crunch for the non-IT segment.
Press Release Body: The rental gap between IT and ITes office space and others is widening as per the latest report by real estate consultant Jones Lang La Salle, leading to a severe supply crunch for the non-IT segment.
The rental gap, the report says, between the two space types in the same or similar locations, was widening due to the relatively lower development of non-IT office stock, that has led to a severe demand-supply mismatch, increasing the rentals for non- IT office space, both grades A and B, to unprecedented levels in a record timeframe.
IT and non-IT space across India's major cities ranges from a low of Rs 10 to 20 per sq feet respectively per month in the tier II cities of Pune and Hyderabad to a high of Rs 40-60 in tier I cities of Delhi and Mumbai.
Over the last six years rentals have been growing at a differential rate of 9.4% and 16.5% for non-IT space respectively, resulting in a widening gap between the two.
The trend is present in all the major cities across the country. Around 47 million square feet of space in the IT/ITES sector would be added in the next two and a half years, while the non-IT space addition is pegged at only 12 million for the same period, thus further increasing the already wide gap between the two rentals............
For Latest Real Estate News: http://www.maaproperties.com/Pages/ModuleContent.aspx?Module=News
At Maa Properties, we have in-depth knowledge of property markets, extensive experience, specialized skills and resources necessary to provide an entire range of reliable and responsive property management services. No matter how far away you are currently located, our online services enable you to take charge of things and efficiently handle all property-related transactions back home.
We would like to take the opportunity to welcome all the community members living world wide to our real estate portal.(NRI)
For More Information about Real Estate Hyderabad, India visit: http://www.maaproperties.com/
2022
