Office space market remains immune to demonetisation

Of the total uptake of office space in 2016, nearly 40% of the total net absorption took place in the last quarter of 2016, according to a international property consultant.

Bengaluru recorded the highest net absorption during the year. The city’s net absorption rose 28% to 12.7 msf during 2016. The new high in 2016 is roughly 5% higher than the last net absorption peak that Bengaluru witnessed in 2011. However it was Hyderabad that caught everyone’s eye. The city is in the midst of frenzied activity from investors and businesses since last year resulting from the government’s proactive steps to create “Brand Hyderabad” through investor-friendly policies and improving infrastructure.

Read more: Economic Times