It's been ten years since Telangana was formed and massive celebrations were planned on the occasion. Over the years, the state saw so much development and the pearl city Hyderabad is giving tough competition to other big cities in various aspects. Now the capital city added another feather to its feather.
Hyderabad surpassed Bengaluru in new office supply in the financial year. While Bengaluru saw a dip in new office supply compared to the previous financial year, Hyderabad saw a big rise in the new office supply. Hyderabad performed well compared to other metro cities.
India's leading independent real estate services company ANAROCK examined the data in different cities and said that new office space in the top seven cities in the financial year. In the report, the firm said that real estate saw a big rise in the first half but it did not last long.
As per the report, as much as 14.94 Mn sq. ft. of new office space was infused into pearl city Hyderabad in the financial year. Compared to the previous year, the supply saw a big rise of 27 percent. On the other hand, Bengaluru saw a dip in the supply. Hyderabad has a lion's share of 31 percent of the total supply in the top cities.
In the financial year 2023, 12.66 Mn sq. ft. of office space was infused in Bengaluru. Compared to the previous year the supply saw a dip of 13%. NCR and MMR(Mumbai) are in the next places with a supply of 8.82 Mn sq. ft and 4.18 Mn sq. ft. While NCR saw a rise, MMR saw a dip.
Experts say that India is in a better position compared to other nations. But the office space sector could not escape the rough patch due to the impact of the global situation. Irrespective of their sizes, companies are laying off employees and there is a talk that the layoffs would continue. With this, the sector would also see tough times.
Hyderabad surpassed Bengaluru in new office supply in the financial year. While Bengaluru saw a dip in new office supply compared to the previous financial year, Hyderabad saw a big rise in the new office supply. Hyderabad performed well compared to other metro cities.
India's leading independent real estate services company ANAROCK examined the data in different cities and said that new office space in the top seven cities in the financial year. In the report, the firm said that real estate saw a big rise in the first half but it did not last long.
As per the report, as much as 14.94 Mn sq. ft. of new office space was infused into pearl city Hyderabad in the financial year. Compared to the previous year, the supply saw a big rise of 27 percent. On the other hand, Bengaluru saw a dip in the supply. Hyderabad has a lion's share of 31 percent of the total supply in the top cities.
In the financial year 2023, 12.66 Mn sq. ft. of office space was infused in Bengaluru. Compared to the previous year the supply saw a dip of 13%. NCR and MMR(Mumbai) are in the next places with a supply of 8.82 Mn sq. ft and 4.18 Mn sq. ft. While NCR saw a rise, MMR saw a dip.
Experts say that India is in a better position compared to other nations. But the office space sector could not escape the rough patch due to the impact of the global situation. Irrespective of their sizes, companies are laying off employees and there is a talk that the layoffs would continue. With this, the sector would also see tough times.