By Accommodation Times Bureau
Gurgaon one of the major commercial region of Delhi-NCR is surely witnessing a high demand of small office spaces less than 10,000 sq. ft category. About 1000-5000 sq. ft of property is the need of hour. This demand has eventually resulted over-supply of some units of one of the developers in the region.
The reason why there is spike high call is because many banking sectors, insurance companies, heavy engineering companies, consultancies, telecommunication firms and many other small industry which usually don’t get place in CBD gets settled in minimum area. The rental values of these spaces are somewhere from lowest of Rs. 25 per sq ft per month to Rs.140 per sq ft depending upon the locations, developers and facility provided.
The NCR region has seen a push in space selling from past 2-3 years as these regions are developing and many high end companies and low end companies are establishing themselves. Most of the renowned developers like Spaze Group; DLF offers office space in different sizes as required.
Space for small office is also readily available in unorganized sectors. By unorganized it means that there are several independent buildings offering 500-1000 sq. ft space, the rental values varies, customers generally look for these kinds of areas because they approach the owners by their own as the agents do not get involved due to low commission.