According to market analysts, office spaces have started generating buyer interest from corporates, boosting developers’ confidence in this segment. But industry experts added a note of caution, saying the supply-demand gap is still huge. “There is a bit more inquiry for office spaces than a few quarters ago, which is a positive sign. However, the deals are not happening at a good pace and there is at least 18-24 months of oversupply in the market,” said Mr. Sameer Nayar, managing director and head of real estate finance at the Asia Pacific unit of global financial services firm Credit Suisse. Property consultant Jones Lang LaSalle Meghraj said demand is picking up in cities like Mumbai, Bangalore and Delhi driven, not by traditionally strong IT buyers.
7 Aug 2009 Hindustan Times

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