In the next three years, about 25 million square feet of land is expected to be developed as commercial property across Mumbai, Pune, Bangalore, Gurgaon, Hyderabad and Chennai as a result of increase in information technology and business process outsourcing (BPO).
According to Knight Frank, the global real estate consultants, about 40 per cent of investments in this sector will be made by companies from the US, Canada, Europe and the Asia Pacific.
Of the 25 million square feet, over 1.5 million square feet of land is slated for commercial development in IT and BPO activities in Mumbai alone, within the next six months.
