Hyderabad, least expensive office market According to global realty consultant, DTZ, because of rupee depreciation and fall in rentals amid political instability over Telangana, Hyderabad has become the world’s most affordable office location. In the DTZ’s list of top 10 least expensive offices space market in the world, four other Indian states fall which are Chennai, Pune, Bangalore and Kolkata. As per DTZ report, Hyderabad overtook Surabaya (Indonesia) as the least expensive market in 2013, due to devaluation of the Indian rupee in combination with declining rents. The consultant has unrestricted the 17th edition of the Global Occupancy Costs Offices, which predicts outlook and analysis of the costs of occupying prime office space across 138 markets worldwide. The title of world’s third least expensive office space market goes to Chennai whereas Pune and Bangalore occupy fourth and fifth position correspondingly. DTZ said, “At occupancy costs below $3,000 per workstation per year in 2013, our list of the ten least expensive markets consists solely of tier II markets in India and China.” Per workstation per annum , the total cost of occupancy in Hyderabad stood at $1,250. Rohit Kumar, DTZ India Research Head said, Hyderabad has suffered lack of office demand leading to drop in rentals because it has been stricken by political instability. He added, from Rs. 58 per sq ft a month in 2012 now the office rentals have declined in Hyderabad to Rs. 45 per sq ft per month in 2013.
Posted on: Fri, 31 Oct 2014 10:27:25 +0000
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