Office space absorption in Delhi-NCR declined by over 8 per cent last year due to sharp fall in supply but the situation is expected to improve in 2017 with a completion of several commercial projects, according to a property consultant. According to the data, office space leasing stood at 8.6 million sq ft during 2016 compared to 9.4 million sq ft in the previous year. Office space supply plunged to 2.8 million sq ft last year from 10.2 million sq ft in 2015, the data showed.
In the seven major cities of the country, office space leasing rose by 9 per cent last year at record 43 million sq ft on robust demand from corporates looking to expand their operations.
Read more: Economic Times
