Delhi-NCR has the highest vacancy of office space at 28.5 per cent, while Pune has the lowest at 8.5 per cent because of the higher demand for premium workspace from IT/ITeS sector, according to property consultant Anarock.
As per the data of Grade-A office buildings across seven major cities of the country, Chennai has an office vacancy of 10.35 per cent, Bengaluru at 11.25 per cent and Hyderabad 15 per cent.
Office vacancies in NCR are the highest among the top 7 cities at 28.5 per cent, followed by Kolkata at 23.5 per cent and MMR (Mumbai Metropolitan Region) at about 16 per cent, Anarock said in a statement.
IT hubs Pune, Bengaluru, Chennai and Hyderabad have lower Grade A office vacancies.
“IT/ITeS remained one of the most buoyant sectors during the pandemic. This sector helped India’s top four IT/ITeS-driven cities to keep Grade A office vacancies firmly in check,” Anarock said.
In contrast, cities like NCR, MMR and Kolkata, with significant office demand also coming from non-IT sectors such as BFSI and manufacturing/industrial, recorded higher office vacancies.