Weak office space demand has negatively impacted air conditioning manufacturers. A resurgence in demand, driven by IT and ITeS sectors, is expected to boost both the commercial sector and A/C sales.
Office space absorption in Bangalore fell by 24% in 2012 compared to 2011 due to weaker demand from the IT and ITeS sectors, impacted by the global economic slowdown.
Pune's office space demand remains largely stable, driven by IT and ITES sectors. Experts anticipate absorption to reach 4 million sq. ft. by year-end, with CBD areas seeing rental increases.
Gurgaon's real estate market is booming due to various factors such as proximity to Delhi, job opportunities, and industrial growth, making it an attractive investment option.