Bangalore / Bengaluru CBD Office Space has hardly witnessed corrections like that in Mumbai. However, peripheral business districts have seen a fall due to pathetic infrastructure and continuous negligent attitude from successive state Governments in improving the same. There is huge supply coming up in Whitefield, Outer Ring Road, Electronics City and North Bangalore. ~5m sq ft of office space is currently available in Whitefield and much more is under construction and will be ready for occupancy by 1Q09.
Grade A office Rentals in Bengaluru June-08 to Sept-08 [INR / SFT / Month]
- MG Road, Residency Road - Stable at Rs 85
- Koramangala, Indiranagar - Down from rs 70 to Rs 65
- Outer Ring Road stable around Rs 45
- Whitefield, Electronic City Stable around Rs 30
- North Bangalore - Witnessed a Rise in early 2008 but now stable around Rs 45
Chennai CBD locations (MRC Nagar, Guindy and Taramani) rentals have been stable but absorption in 3Q08 was much lower than that recorded in previous quarters. Absorption has remained low in suburban and peripheral locations such as OMR and GST Road thereby keeping rentals at competitive rates.
Grade A office Rentals in Chennai:
- Annai Salai, Nungambakkam - Stable between Rs 70 to Rs 80
- Velachery, Taramani - Stable at Rs 40
- Siruseri, Ambattur, GST Rd - Rs 30 to Rs 35
Can someone share the state of infrastructure in Ambattur and GST Road, Chennai ?
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