Hyderabad has overtaken Bengaluru in terms of new office supply influx for the financial year 2022-23, according to data from real estate services company ANAROCK. The report showed that a total of 14.94 million square feet of new office space was introduced in Hyderabad, accounting for 31% of the total supply in the top seven Indian cities. For Bengaluru, office supply completions reached 12.66 million square feet, making up 26% and a 13% decrease from the previous fiscal year. The report also revealed a drop in vacancy levels in the top seven cities with average Grade A office vacancy levels at 15.9% and average annual office rentals reaching INR 79/square foot per month, a 4% yearly increase.
Hyderabad outperforms Bengaluru in office supply for FY23: ANAROCK report
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