We, at Real Anchors (Commercial Real Estate Agency) also deal in call centre properties offering
some of the finest options to BPOs, MNCs and software companies in India. "Most
of the BPO companies rent about 50,000 sq.ft to about 100,000 sq.ft of floor
space. This is quite a large amount of space compared to others companies
who do not need so much of space" says Jai Deep Singh of India Property
Research. Large multi national corporations (MNCs') like Converges and GE
have in a way set the trend for moving out of Delhi to Gurgaon and Noida, he
points out. The existence of Udyog Vihar in Gurgaon is an indication of the
impact of the IT and ITES industries in the region surrounding Delhi.
The changeover of the real estate market
and the tastes of the MNCs' came with the shifting of ITES industries to
Noida and Gurgaon. Transition of the Real estate market: With the shifting
out of industries in late 1999, most of the industries in Delhi were moved
out to fringes. In the month of May 2002, the Government of India accepted
NASSCOM's recommendations and removed certain procedural bottlenecks that
were hampering the growth of the Indian call industry. The Government of
India has allowed total income tax exemption on the export of IT initiative
enabled outsourcing services under Sections 10A/10B of the Income Tax Act.
The forces of demand supply operate here as in any other market. The
initial demand for office space from the MNCs' led many builders to
construct property and rent it out. The sudden deluge of the builders over a
period of two to three years dropped the prices of property in Gurgaon,
Haryana. There was too much property out for renting out with little demand.
This brought the prices of rental property down drastically. The prices
nevertheless have stabilized now and there is expected to be a steady growth
in the real estate market.
