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MARKET OVERVIEW

REAL ESTATE • October 2007

Commercial Office Space

Segmentation

  • Commercial Space can be classified broadly into Grade A and B

  • Business activity shifting from CBD to SBD and from Tier I to Tier II & III

Outlook

  • Commercial market expected to grow at CAGR of 20-22% over the next 5 years

  • IT/ITeS sector expected to require in excess of 250 million sq. ft of commercial office space by 2012-13

Commercial Office Space Absorption Total: 45 mn sq. ft (2006)

10%

14%

8%

11%

8%

26%

n Mumbai

n NCR

n Hyderabad

n Chennai

n Kolkata

n Pune

Source: E&Y estimates for top seven cities

23%

n Bangalore

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