hyderabad propelled by the rush of bigticket itites companies hyderabads office space absorption touched 1050 million square feet sft in 2019 only marginally behind bengaluru until 201415 the citys annual score wasnt more than 35 to 4 million sft among the players that contributed to this highestever absorption are facebook qualcomm intel dell xilinx synchrony along with significant coworking entities like cowrks wework simpliworks tablespace and redbrick show jlls india real estate market update 2019 office gachibowli surpassed the space takeup in hitec city contributing to more than 65 of the net absorption the report stated terming 2019 as a benchmark year for hyderabad as it hit another new high completion of new projects covering 1325 million sft not surprising then office rentals in the city shot up during the last year with the average hovering around rs 5617 per sft rents at many grade a spaces were revised upwards to rs 75rs 80 per sftgiven the trend i am confident hyderabad will overtake bengaluru in the next one or two years in annual office space absorption said sandip patnaik managing director jll telangana and andhra pradesh on the sidelines of saturdays event its real a turnaround story for the city of hyderabad this proves what good governance can do he added attributing it multiple reasons including stable government friendly corporate policies availability of quality office supply among others the presence of a sizeable talent pool and relatively lower rentals in comparison to bengaluru gurgaon pune and mumbai are also important factors patnaik said while bengalurus average rentals are pegged at rs 7438 per sft per month it is around rs 7780 per sft in delhi ncr and rs 6831 per sft in pune as per the reportthe momentum in office space is expected to rise further in 2020 with more than 13 million sft expected to be completed this year the jll report addedspeaking about hyderabads growth in the office space category as well as being recognised as the most dynamic city in the world ramesh nair ceo and country head india jll said the state governments focus on business friendly policies and provision of high quality infrastructure has given hyderabad a competitive edge