Gurgaon to see number of lease renewals in office spaces in 2014&15

Gurgaon is expected to witness significant number of lease renewals in office spaces 2014 and 2015 as companies that had set up offices in 2004 – 2006 are approaching the end of their lease terms .

These companies — the “ first wave” of occupiers — will have to pay rentals at present market rates that are significantly higher after the renewal of leases, according to a report by Colliers International.