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India: E-commerce Overtakes BFSI to Become 2nd Largest Office Space Occupier
Source: egov.eletsonline.com
Source Date: Tuesday, July 14, 2015
Focus: Electronic and Mobile Government, ICT for MDGs, Knowledge Management in Government, Citizen Engagement, Institution and HR Management, Internet Governance
Country: India
Created: Jul 21, 2015

E-commerce has overtaken banking and financial services (BFSI) as the second largest occupier of office space in India after information technology (IT), says a report released by global property consultants CBRE.

A key development witnessed in the second quarter (Q2) is the spurt in office space leasing by online retail companies. With online retail firms such as Amazon, Flipkart and Snapdeal committing large spaces, particularly in the national capital region (NCR) region and Bengaluru, the e-commerce sector took 17% fresh lease in the quarter, followed by BFSI at 16%.

According to report says that with a share of about 36 per cent, IT/ITeS remained the largest occupier of office space across the leading cities i.e. Chennai, NCR, Mumbai, Hyderabad, Pune, Kolkatta and Bengaluru.Rajat Gupta, Head – Transactions (North), CBRE India, “E-commerce companies can be a serious contender to banks and financial institutions. As long as venture capital funds and investors keep investing money into the sector, we see continuous growth in absorption rates.”

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According to the official statement, TOD policy shall be adopted for development within the Influence Zone (extending up to 500 metres on both sides of MRTS corridors), so that maximum number of people can live, work and find means of recreation within walking/ cycling distance of the MRTS corridors/stations.

However, TOD will not be applicable in Lutyens Bungalow Zone, Civil Lines Bungalows Area, Monument regulated zone, Zone ‘O’ (around river Yamuna) and Low Density Residential Area. TOD zone would comprise approximately 20% of Delhi’s overall area.

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