Demand for Office Space in Bangalore Rises
There is no doubt that the past few years have witnessed one of the most hard times for the industry in recent times. A lot of oncoming projects were cancelled, business investment was slow and as a result the demand for office space slowed down significantly. However, the dawn of new normal has seen comeback in the demand for office space fueled by business growth of corporate India in the backdrop of fiscal recovery.
Bangalore which is the Silicon Valley for the IT industry in India has seen increasing demand for office space in recent times. There has been an exceptional change in the commercial sector in Bangalore.
With signs in the global market gaining space, commercial office space at Bangalore has begun to strengthen, focusing on diversification, affordability and delivery.
The new idea of office space in Bangalore is no more restricted within four walls, but extended beyond it. Companies are now impending with new concepts to make working space as dramatic and creative as possible to enhance the productivity of the employees.
According to a corporate communications professional, all this considerable transformation is completely driven by the presence of MNCs. Their presence to go for Grade A offices have changed the residential districts into a commercial hub. Yet another latest concept in the commercial sector is the integrated developments: An idea to combine work and living in the same vicinity. Such a locality will be inclusive of school, super specialty hospital, malls, multiplexes, residential complexes, hotels and the list goes.
Localities in Focus
The outer ring road (ORR) and Whitefield continue to dominate as favored location choices due to striking pricing. The cost of business operations would likely be a vital factor for deciding on the location. Most of the new Grade A office spaces will be seen along the ORR and Metro rail network. The expansion of IT and aerospace parks near Devanahalli will also generate a chain of developments in the realty market. This will come about when the existing spaces within the city and along the ORR are full.
Backed with the information corporate and developers need, we make the real estate process simpler and more effective for everyone. Our strong local presence in established and emerging markets across country, combined with powerful research and intelligence-sharing, empower us to identify opportunities for clients to maximize value in every aspect of their transactions. No wonder, our rate of repeat business continues to grow which accounts for more than 45% presently, each year.