Prime office market trends for 2014 in India
India's Occupier Market & Capital Market Trends for the Year
Anshuman Magazine, CMD, CBRE South Asia Pvt. Ltd.

Investment-grade office space demand slowed down in the first quarter of 2014, with around 6.3 million sqft of Grade A office space getting absorbed across leading cities of the country. Transaction activity was dominated by the National Capital Region (NCR), Bangalore and Chennai. Special Economic Zone (SEZ) developments in Gurgaon, Bangalore, Hyderabad and Pune also saw traction during Q1 2014. The market saw slow transaction activity and a low level of new completions in the first quarter; and leading cities continued to experience caution from corporate occupiers in the first three months of the year. Most investments by PE groups in the sector during the period were structured debt deals, with a preference for residential projects or well-leased commercial projects. Land and/or development sites for residential and mixed-use projects in the peripheral locations of leading cities also attracted investor attention.