HYDERABAD: In terms of office space leasing and transactions in the first half of 2018, Hyderabad stood second in the country among major metros, right after Bengaluru, says the latest report published by a real estate consultant. The Western Corridor has emerged as the major office hub this year.Areas like Hi-Tec City, Madhapur Gachibowli and Financial District have been identified as the major commercial hubs by the report.The Hyderabad office space market saw a total space absorption of approx. 2.8 million sft of commercial Grade A office space in the first half of 2018, especially in these suburbs---says the latest report published by a real estate consultant. While rentals for office spaces have seen an appreciation in 2018, vacancy rates remain low due to high demand. The rentals are further expected to appreciate, according to real estate consultants. A total of 1.5 million sft of office space was also added in Hyderabad in the same time. While Bengaluru recorded the highest absorption of office space at around 8.2 million sft, it was followed by the Delhi-NCR region where 2.75 million sft of office space was leased in the first half of 2018 and Pune (1.8 million sft).

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