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Since COVID, there have been significant changes in how businesses operate. The global shift towards hybrid work models gradually gained traction. Needless to say, the commercial real estate market was heavily impacted by this. Gurgaon is the leading IT hotspot in Northern India and the Millenium City saw offices adapting to new ways of managing their businesses. With the amplified popularity of the hybrid work model, there have been new developments in the demand for office space for rent in Gurgaon. In this blog, we will discuss some of the major impacts of the hybrid work model on the demand for office spaces for rent.
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There has been a visible decline by around 30% in 2016 of the rented out office spaces with technology organizations halving their lease share due to the dearth of supply of quality as per a property consultancy. Irrespective of this, Gurgaon is still said to be the most preferred finance, manufacturing, and IT company’s destination. http://www.favista.com/blog/2017/02/24/decline-rented-office-spaces-gurgaon-2016/
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