Office space in India

Look at the office space scenario in India. The genesis is of the real estate transformation lay, in the opinion of TCM, in the gradual positioning of India as a preferred destination for outsourcing at the turn of the millennium. Large MNCs and Indian occupiers set the demand norms for high quality office space which in most case were not to be found in the CBD at that time. This forced the firm to move to suburb office spaces which are easily available in established locations in India for the sake of new buildings available at lower costs.

The IT/ITEs boom in fact has led to an increase in year-on-year need for office space in India and the prediction is that in 2007, an estimated 50 million sq.ft. of office space will be absorbed across major metro cities. The ASSOCHAM estimates that by 2010, IT/ITEs Sector will alone require 200 million sq.ft. Of office space in India established and new locations.