Due to its advantages, Bangalore/Bengaluru has ranked the first Indian business destination surpassing bigger cities like Mumbai, Delhi, Chennai. A recent survey by Global Initiative for Restructuring Environment and Management (GIREM) and DTZ, the global leader in property services, said they surveyed 21 business destinations across India for the purpose.
Bangalore ranks 1st with a total score of 129.56 out of 160 followed by Chennai at 127.84 and Mumbai at 123.64. The survey says good connectivity, high quality of talent pool, good availability of office space suiting different income groups, a high-quality education system and a welcoming, multifarious city culture has helped Bangalore notch the top slot.
Bangalore has one of the highest footfalls of business travelers in the country, driven by the booming IT/ITes sector. It also has one of the most resilient real estate markets which offer commercial space at much more competitive rates compared to cities like Delhi, Mumbai or Gurgaon, says Shyam Sundar S Pani, president -GIREM.
While popular destinations such as Bangalore, Mumbai, Chennai, and Pune continued to occupy top positions, the ranking revealed some unexpected contenders in the Top 10 league include Indore, Bhubaneshwar, Kochi, Coimbatore and Nagpur.
Bangalore commercial space absorption that witnessed 105 million sft absorbed till date as compared to other top Indian cities led mainly by growth in leasing from IT/ITes firm, also helped fuelling growth in the residential real estate market.