India`s tech hubs offer 5-10 pc lower office fit-out costs in Asia Pacific
Tech hubs in India offer 5-10 per cent lower fit-out costs than financial centres in the Asia-Pacific region, with Bengaluru presenting fit-out costs 5 per cent below the national average, while Hyderabad sitting 8 per cent below average, according to a report released on Friday.
Chennai emerges as the most economical option among major Indian cities, with costs approximately 10 per cent below the national average.
Mumbai leads as India's most expensive city for office fit-outs, with costs 7 per cent above the national average, reflecting its position as one of India's premier commercial hubs, according to the report by JLL.
Delhi follows closely at 4 per cent above average, while Kolkata and Pune registering marginally higher costs than the national baseline.
The report places Indian cities among the most cost-competitive in the broader Asia-Pacific region. When benchmarked against Hong Kong as a regional baseline, cities like Mumbai, Delhi, and Bengaluru offer significantly lower fit-out costs compared to premium APAC markets.
Tokyo emerges as the APAC region's most expensive location for office fit-outs, with costs comparable to global financial centres like New York and London.
Singapore follows as another high-cost destination, while Australian cities Sydney and Melbourne, along with Auckland, occupy the mid-range of the index, said the report.
“This cost spectrum creates tangible capex planning opportunities for organisations with multi-city portfolios,” said Jipujose James, Managing Director, PDS, India, JLL.
However, the rapid construction growth we're witnessing across India's urban centres, especially in tech hubs, suggests this cost landscape is evolving quickly,” said Jipujose James, Managing Director, PDS, India, JLL.
At the lower end of the city cost index are cities in India (Mumbai, Delhi, Bengaluru), China (Tianjin) and Vietnam (Ho Chi Minh City).
While costs in these locations are relatively lower, many are experiencing rapid construction growth and evolving cost landscapes, particularly in India's major tech hubs like Bengaluru and Hyderabad
As India's urban centres continue developing and competing for business investments, these cost dynamics are expected to evolve, it added.
