Led by Bengaluru, office space lease activity rose last year to breach the 40 million-sq ft mark in the country. Much of the demand came from the IT and ITeS sectors and financial services companies in leading cities in India, an independent property consultancy said. Gross space absorption rose 9 per cent to about 43 million sqft in 2016, compared to the previous year. About 13.9 million sq ft of space was leased in the quarter ended December, an increase of 20 per cent sequentially.
Read more: Business Standard