Several businesses, both Indian and foreign, are using the slowdown in the office real estate market to relocate their offices to locations where all their businesses can come under one roof at lower rentals. According to a Cushman & Wakefield study, office relocations and consolidation of space have more than doubled in the first half of 2013 against last year. The office market in India has matured considerably over the past 15 years since the boom began. In these years, though, geographical dynamics have changed quite a bit. In many areas like the NCR and in Mumbai, city centres have moved over the years.
Read the Economic Times news report here.