Deloitte may sign up office in Bangalore

India’s commercial real estate market is seeing big deals being struck once again in the top cities. In one of the largest leasing deals in the country, Deloitte is close to signing up 1.4 million sq ft of office space in Hyderabad for its BPO business. This isn’t the only 1 million sq ft plus leasing deal in the market at present.

Several top companies are looking for space to consolidate their offices and, more importantly, prepare for the impending growth that is expected as the economy improves. Bangalore leads in terms of companies looking for large office spaces. While Tata Consultancy Services recently took up just under a million sq ft of space split between Noida and Gurgaon in the National Capital Region, Flipkart is looking to set up a new 1.5 million sq ft campus in Bangalore keeping in view the tremendous pace at which the e-commerce sector has been growing this signals revival in growth prospects for business.

Many of these companies now have visibility about new business coming in, said Anckur Srivasttava, chairman of GenReal Property Advisers. Until a few months ago, many companies were still not too sure about growth. Political uncertainty added to this. With a strong government at the centre and some new policy measures, companies have felt emboldened to go ahead with their plans.

Source: The Economic Times

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