Bengaluru posts highest office absorption in 2014

Total absorption at 30 million sq ft, 3 million more compared to last year

Bengaluru recorded 9.39 million square feet of office space in 2014, the highest such absorption among all cities in the country, said a new study.

The absorption is 31% of the total absorption of office spaces in the country in 2014, said India Office Real Estate Market Review 2014 by property consultant JLL.

Mumbai absorbed 5.46 million sq ft or 18% of total office absorption in the country, JLL said.

Close to 30 million sq ft of office space got absorbed in 2014, a 3 million jump in net absorption compared to the previous year.

Bengaluru witnessed a significant 72% year-on-year increase in net absorption in 2014, followed by NCR-Delhi (48%), Hyderabad (41%) and Pune (13%). Kolkata (-55%), Chennai (-43%) and Mumbai (-21%) witnessed a fall in net absorption from levels seen last year.