E-commerce Companies Seconds the Chart of Office Space in India — Finlace Blog (Real Estate Consultant)

E-commerce is keeping on with its drive of surprising India now and then. In yet another building up and a survey conducted by well known property consultant CBRE it has been indicated that E-commerce have gained the second slot for office space after IT sector in India. The sector has earned this position by making BFSI (Banking and Financial Services) fall behind to the third slot.

As much as 70% rise was seen in office space leasing in the period between April-June due to high increase in demand from E-tailers. This has actually resulted into 17% of total absorption of office spaces within major cities in India. The cities that have contributed to this development and result include Mumbai, Kolkata, Chennai, Pune, Hyderabad, Bengaluru and Delhi NCR.

Ecommerce giants in India like Snapdeal, Flipkart and Amazon amount to loads of space being used for business purpose in regions like Delhi NCR and Bengaluru. CBRE stated that in office space segment 17 percent is the absorption by E-tailers while 16% goes into account of banking and financial services. The ruler of the space though remains the IT/ITES industry that qualifies as the largest office space occupier in seven cities named earlier.

Experts state that there is a rising demand for corporate office space in leading Indian cities and this is a good sign for commercial real estate industry. Bengaluru tops among cities when it comes to the rate of absorption which is as high as 35 percent in case of Silicon Valley of India.