Rents for office space witnessed stability in 2010 as increased spending by IT and ITES firms , a recent survey by real estate consulting firm C.B. Richard Ellis indicated. The market for commercial space in big Indian cities has seen a boost in demand in the last quarter even as rents  hobbled by excess supply.

The rental values in the central business district of New Delhi increased by 4% over the previous quarter while remaining same in Mumbai, Chennai, Hyderabad and Pune according to the report. The study across seven major cities forecast rents to remain stable overall while they may ease up in New Delhi and Bangalore due to supply beating demand.

Telecom, FMCG and pharma companies are also taking up office space, even as the IT-ITES sector which is seeing rising demand continues to be the major occupier. A Magazine said,“Unlike last year, the last quarter of 2009 onwards we have seen demand improving, absorption taking place and there is a momentum in the market,”

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