Pune currently has the lowest office vacancy at 8.5%: Anarock research
- Jun 23, 2022, 02.45 PM
- DealMoney News Service
IT/ITeS remained one of the most buoyant sectors during the pandemic. This sector helped India's top four IT/ITeS-driven cities to keep Grade A office vacancies firmly in check, according to ANAROCK research.
Further ANAROCK research indicates that the IT hubs Pune, Bengaluru, Chennai and Hyderabad currently have lower Grade A office vacancies.
Cities like NCR, MMR and Kolkata, with significant office demand also coming from non-IT sectors such as BFSI and manufacturing/industrial, recorded higher office vacancies.
Pune currently has the lowest office vacancy at 8.5%, followed by Chennai with 10.35%, Bengaluru with 11.25% and Hyderabad with over 15%.
Office vacancies in NCR are the highest among the top 7 cities at 28.5%, followed by Kolkata with 23.5% and MMR with approx. 16%. On correlating current vacancy data with upcoming planned or under-construction office supply across the top 7 cities, it is clear that the three non-IT/ITeS driven cities are now restricting their new office stock.