Header
News & Views on Indian Real Estate

Wednesday, October 29, 2008

Slowdown Affects The Demand For IT Space In India


Information technology space has resulted in reduced demand for office space in India in the second quarter of the current financial year. As per the report, many companies, especially in the IT/ITes sectors, have curtailed their expansion plans, which has hit office space sales in the last three-months. Another reason was the unavailability of funds for the sector, it says. The report also said that the current global conditions are likely to impact Mumbai the most as it is the financial capital of India, and the rentals and capital values across most micro-markets in the city will see a further correction. "The global economic slowdown has started to show early signs of impact on the office rental market. Going forward, this is expected to keep office rentals under check," said Mr. Anshuman Magazine, Managing Director, CB Richard Ellis, South Asia.

Architectse said...

It’s a very nice blog…
architects as architecural know more about Green eco architectural designs are reusable materials, green designs etc.. ..… Create an Eco friendly Green design… Save Earth.. interior designers Bangalore as of natural materials interior designers in Bangalore with almost modern concepts architects bangalore