Office space vacancy has been on decline since 2013 and the trend continued during the last year as well.

The vacancy levels stood at about 16 percent by 2015-end in Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Pune and Hyderabad, according to property consultant JLL India.

India's office space absorption in 2015, at around 36 million sq ft, was the second highest after 2011, it said in a report.

Vacancy in Bengaluru has reduced from 16 percent in 2011 to 4 percent yesterday. Chennai's vacancy has come down from 32 percent in 2010 to 12.5 percent yesterday.

Hyderabad has also seen its vacancy reduce from 17 percent in 2009 to less than 10 percent now. Similarly, in Pune, vacancy has reduced from 18 percent in previous years to 5 percent yesterday. The sharpest fall in pan-India vacancy is expected between 2016 and 2017 when it will be slightly less than 13 percent.

Talking about the demand side, the consultant said the absorption of office space in 2015 was distributed across new and old buildings unlike 2011 when it was largely limited to newly-completed buildings.

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