Pan-India office space vacancy lowest in 8 years

The pan-India office space vacancy in 2016 at 15 per cent was the lowest in eight years. The sharpest decline in pan-India office vacancy was seen between 2013 and 2016 when it went down from 18.5 per cent to 15 per cent.

“On the back of positive office space demand from sectors such as manufacturing, logistics, FMCG, consulting firms etc, the year (2016) saw a record low vacancy largely driven by IT cities such as Bengaluru, Pune and Hyderabad, each of them seeing vacancy in single digits,” said Ramesh Nair, CEO and Country Head, JLL India.

Read more: The Hindu