SEZ space accounts for 22% of the total office stock in India: CBRE Report
Publish on : 2018-09-01 13:58:02
BENGALURU: Special economic zone accounts for about 22% of the total office stock in India across seven leading cities with Bangalore, Chennai, Delhi-NCR and Hyderabad housing almost 77% of this SEZ stockOverall.
The technology sector dominated SEZ space take-up with over 60% space absorption in the past three years.
Anshuman Magazine, Chairman, India and South East Asia, CBRE, said: “We feel that the space take-up in SEZs should remain strong till the end of 2019. We also expect that at least till the end of 2019, there will be a continuity in several trends in the SEZ segment of the commercial real estate market with growing preference for SEZ spaces by corporates, particularly those belonging to sectors such as technology, research and consulting, engineering and manufacturing, banking and financial servi ..
On the supply pipeline, more than 20% of the upcoming office supply lined up for completion over the next two years is expected to consist of SEZ developments.
According to the findings over 80% of this supply pipeline is expected to come up in markets including Bangalore, Hyderabad, Delhi-NCR and Chennai.
The government in 2015 laid a roadmap to successfully reduce corporate tax from 30% to 25% by 2019. This also included announcing a sunset date on tax exemptions granted to SEZ developers and unit holders.
Source :- Economic Times