The demand for office space increased

The demand for the office space across various cities has gone up, according to the latest report from the real estate agency the JLL. In shopping malls, the demand for the retail space is more or less stable. The launching of new real estate projects in many cities across the country is also stable. In Ahmadabad, the demand for office space is sustaining, while the demand for retail space in the malls has registered marginal increase. In the residential sector, the sales of units and launch of new projects remained static.

In Bangalore, the demand for office space has gone up. The Tata Realty has plans to spend Rs 4000 crore to acquire 5 million sft of the office space in the garden city. The retail space and residential sector are more or less stable in the city. In Chennai, the demand for office space is strong. The demand for retail space and residential space is described as okay.

The demand for office space in the national capital region of Delhi is very high; several transactions to acquire retail space took place. The demand for residential space has increased slightly. In Hyderabad, the high-tech city left its indelible mark on the office space, while the demand for retail space remained stable. Sale of retail units and launching of projects are described healthy.

Rajapushpa Developers has launched the project titled Pristinia in Nanakramguda. In Kolkata, the demand for office space, retail space and residential space are good. In Mumbai, the demand for office space is stable, but the demand for retail space has increased. The residential space demand is strong here. On the other hand, the data centres are developing in the country, the JLL report said. During the past three years, the data centres have almost doubled. In 2019, the capacity of the data centres was put at 350 MW. However, it grew to 722 MW currently.