Bengaluru: Office Space in Bengaluru is always in demand as there are many start ups coming every now and then. Despite the heavy traffic congestion, commercial and industrial activity is active in city due to several other favourable reasons. Apart from Mumbai, Bengaluru has the highest office space rental rate. Now many companies are eyeing the Whitefield area of the city.
According to Colliers (Colliers), a real estate consultant firm, the rent of office spaces in Whitefield may increase by 10 percent in the next two years. It can be said that there is a demand in Whitefield where there is such terrible traffic that the distance of three or four kilometres is wasted for hours. The reason for this is that the infrastructure will be improved so that the traffic problem in Whitefield will be reduced a little.
Baiyappanahalli – Whitefield Metro Project will be completed soon. This will help a lot in this area. Especially in this area where there are many IT companies, the metro train will be of great benefit to the IT employees.
Thus, the demand for office spaces in Whitefield is expected to be good in the next two years, Colliers said in its report titled ‘Bangalore Metro Rail: Key Office Market Impact’. Whitefield is the second largest office market in Bengaluru. This means that Whitefield ranks second in areas with the highest office space.
It has 40.4 million square feet of office space. After the metro project comes to this route, there has been a lot of demand for office spaces. Now that the project is nearing completion, the demand is increasing. After the start of metro operation, there will be an unprecedented demand for office space in Whitefield.
Co-working spaces are increasingly trending in Bengaluru right now. That is, these are office spaces where anyone can come and work by paying a certain rent. 13% of the total office leasing in Bengaluru is coworking space. However, there are few such offices in Whitefield where the traffic congestion is high. However, the real estate consultant company said that the demand for these workspaces in Whitefield may increase after the metro starts.