Irrespective of Gujarat being touted as India’s Mecca of business by the none other than Narendra Modi, its chief minister, it is actually Bangalore which has outsmarted Ahmedabad in 2010 in the fresh demand for office space. According to a year-end report released by Cushman & Wakefield, global real estate consultants, in 2010 it is Bangalore which has recorded 90% growth in office space supply whereas Ahmedabad recorded 60%. In 2010 Bangalore supplied approximately 10.1 million sq ft of office space.
When the demand for office space in a particular city increases it confirms the faith of business class on that city. In the backdrop of the global economic crisis of last year the performance of Ahmedabad had been lacklustre. Against a demand of 0.33 million sq ft of office space Ahmedabad supplied 0.28 million sq ft thereby outstripping its office space supply. On the other hand Bangalore had last year supplied around 5.31million sq ft against a demand of 5.73 million sq ft.
The executive director of C & W India, Mr. Sumit Rakshit, said that this trend shows that the corporate sector which has been deferring expansions earlier because of the economic crisis is now actively pursuing expansion plans.
When the demand for office space in a particular city increases it confirms the faith of business class on that city. In the backdrop of the global economic crisis of last year the performance of Ahmedabad had been lacklustre. Against a demand of 0.33 million sq ft of office space Ahmedabad supplied 0.28 million sq ft thereby outstripping its office space supply. On the other hand Bangalore had last year supplied around 5.31million sq ft against a demand of 5.73 million sq ft.
The executive director of C & W India, Mr. Sumit Rakshit, said that this trend shows that the corporate sector which has been deferring expansions earlier because of the economic crisis is now actively pursuing expansion plans.
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