By Jones Lang LaSalle, India Service sector, which is the core contributor to the GDP of India, has the highest demand for office space in the country. The sector witnessed a stable growth at 8.5% in FY12 despite the overall economic slowdown and is expected to remain stable over the coming months.
Market highlights for September 2012:
- Office space demand remained stable in most cities. Retail space demand continued to remain slow while, residential sales improved
- Office and retail rents and capital values remained stable across major cities. There was a marginal increase in residential capital values in Delhi-NCR, Bangalore and Chennai in September