new delhi one would imagine that office rents would go down with a strong bounceback in demand for space from corporates pure economics one would think not really office rentals are likely to climb up in the coming months because of a shortage of quality spaces in key business districts around the country in certain key locations rentals could go up 2025 per cent in the next 12 months says sanjay dutt executive managing director for south asia at property consultancy cushman wakefield the situation has been brought on by the fact that most developers and even private equity players have chosen to focus on the residential property market over the last three years ignoring the office market that saw a dip in demand from companies because of the global economic slowdown because the money moved away from commercial we will see office supply getting tightened says anshul jain chief executive india at property advisory firm dtz jain says that if a client came in today asking for 100000 sq ft anywhere north of sohna road near gurgaon he will probably have only three options to show the client you will see a space constraint on the commercial side in the relevant areas and rents are already moving up he says according to property advisory jll in calendar year 2014 307 million sq ft of good quality office space will be completed in the top seven cities of the country in 2015 about 35 million sq ft will be completed in comparison between 2008 and 2011 over 40 million sq ft of supply came in to the market each year a landslide victory for bjpled national democratic alliance in the recentlyconcluded elections has triggered newfound excitement in the corporate sector a rising stock market has further helped improve business sentiments across sectors sensing an improvement in the economy over the next 12 months companies are already starting to plan for that growth which has led to a rise in demand for office spaces say property consultants some corporates have already picked up spaces in the last few months kpmg recently leased over 700000 sq ft of space in bangalore tata consultancy services recently about a million sq ft between noida and gurgaon there is a buzz that many big japanese and korean firms are looking for space too accenture is looking for space ecommerce player flipkart is looking for 15 million sq ft of office space pharma firms abbott and lupin are also eyeing space say consultants according to an informal survey of top property consultancies various corporates are looking to lease over 40 million sq ft of space in the top seven cities over the next 12 to 18 months companies in sectors such as ites captive facilities for banks software development pharma aviation insurance and other services are in the market today for leasing space for expansion its difficult to find space today on the outer ring road in bangalore which is a preferred location for companies