Bangalore’s great spots to rent office space
Bangalore is a dream come true for both existing businesses and aspiring entrepreneurs. Most people share the same desire of having an office in Bangalore.
This city, also called as the IT hub, Silicon Valley, or the IT capital of India, has increased in popularity as a result of the presence of multiple start-ups and globally recognized conglomerates in different fields. Bangalore’s commercial real estate prices are also lower than those in Mumbai and Delhi NCR. These are some of the factors why Bangalore is by far the most popular place for starting a business.
“Bangalore is perhaps the most robust real estate market in the country with admiration to commercial, residential, retail, or other real estate asset class,”.The city registered 15.5 million sq ft of commercial absorption last year before the pandemic occurred, i.e. in 2019. Across all cities, this was the highest. It also recorded 12.4 million sq ft of commercial absorption during the pandemic, i.e. in 2020, which was again the largest across all cities. Whereas the second pandemic phase slowed absorption in April-June 2021, the city is currently seeing a robust comeback from the aggregate absorption observed during first three quarters of the previous year. A number of variables have contributed to the market’s amazing run.First, previously muted desire among workplace occupiers who have placed their commercial take-up career on hold previously this year due to the pandemic and accompanying lockdowns re-entered the market and closed transactions. Second, global tech firms and other large corporations have signed up for office space as part of a deliberate, long-term occupation strategy. Finally, the city’s and corporate tenants’ COVID-19 immunization drives instilled trust andconfidence in future expansion goals, leading to higher office space absorption.
Significance of the location
When firms are seeking for office space, the first factor they evaluate is location. The location of a company’s headquarters is critical to its success. Before leasing office space, companies consider the closeness of the location to potential clients, staff residences, amenities, and transit options.
Taking into account the above-mentioned considerations, below are the top four locations in Bangalore where you might consider leasing office space:
Koramangala is a well-known commercial hub in Bangalore, located in the city’s southeast corner. It is around eight kilometers from the CBD and provides businesses with improved impression management.
Hosur Road, Sarjapura Road, the Outer Ring Road (ORR), and the Intermediate Ring Road connect Koramangala to the rest of the city. In addition, the Namma Metro Line 3 (RV Road-Bommasandra), which is planned to open in 2023, would improve the area’s interconnectivity.
If you’re wanting to open a business in Bangalore, Koramangala can be a good place to start. Koramangala is home to everything from IT behemoths to a slew of thriving start-ups. Flipkart, an e-commerce behemoth; Swiggy, a food delivery start-up; and Ola, an online cab service, are just a few of the well-known Koramangala start-ups which have hit it big over the years.
Indira Nagar is a commercial centre and a desirable residential neighborhood in East Bangalore. This area has a well-developed road and metro network. It’s only three kilometers from MG Road and four kilometers from Brigade Road. The Purple Line of the Namma Metro also covers the neighborhood and links it to the city’s major hubs. Whitefield, a large business centre, would be easy to reach via Indira Nagar as the line extends.
Indira Nagar, according to Zakir Hussain, owner of Topend Realty, is advantageously positioned proximity to major IT parks like as RMZ Infinity (Old Madras Road), RMZ Millenia (Ulsoor), and Bagmane Tech Park (CV Raman Nagar). As a result, Indira Nagar is among the most popular places for professionals to live and employers to lease workspaces. Furthermore, numerous significant business establishments and cafes can be found on both sides of 100-Feet Road and 80-Feet Road (four kilometers), boosting the area’s commercial real estate. As a result, Indira Nagar’s office lease rates are slightly higher than the national average.
Whitefield is Bangalore’s highly desirable commercial district. It is easily accessible by bus from most areas of the city, and Silk Board-K R Puram, RV College-Bommasandra, and Gottigere-Nagawara planned corridors will soon connect it to the Namma Metro system. Whitefield railway station, on the Bangalore-Chennai route, is approximately three kilometers distant.
Whitefield is home to various IT parks, notably ITPL, in addition to retail stores. Whitefield is home to a number of well-known IT firms, including Accenture, IBM, TCS, Tesco and many more.
Whitefield has a strong industrial capacity in addition to IT parks. Some few industrial establishments inside the vicinity are Hindustan Lever and Padmini Industries. As a result, if you’re trying to rent office space in Bangalore, Whitefield could be the best option.
Marathahalli is a neighbourhood in Bangalore’s southeast. HAL Airport, popularly known as Old Airport, is only two kilometers away. Marathahalli is a residential and business neighbourhood near RMZ Ecospace, Cessna Business Park, Prestige Tech Park, Salarpuria Hallmark, and Embassy Tech Village, which are all major IT centres in Bangalore. Rental contract rates, on the other hand, are marginally higher in Marathahalli than in Whitefield.
Silicon Industrial Networks, Amadeus Software Labs, Home Shikari, TTK Services, and Alphatech Solutions are among the enterprises based in Marathahalli.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.