Wednesday, January 16, 2008

Maximum City... 
in manpower costs too

Mumbai is the least preferred among the top seven Indian cities by the IT industry for setting up shop, according to a report prepared by ICICI Property Services.

The financial capital of the country ranks at the lowest in the attractiveness index when it comes to manpower accessibility and new supply for office spaces. It is the most expensive in terms of realty and manpower costs, but is only second to Kolkata in terms of social security and cost of living.

Among the seven driving dynamics those were taken into consideration, Mumbai ranks fifth in terms of manpower availability, trailed by Bangalore, Pune, Chennai and Hyderabad. While 6,435 engineering graduates pass out from Mumbai each year, Bangalore produces 23,470 engineering graduates, Pune 8,870, Chennai 14,947 and Hyderabad 21,400.

Mumbai will have the least office space to offer by December this year. Bangalore has the highest space to offer during that period. While 4.63 million square feet of office space is to be readied by December 2008 in Mumbai, Bangalore has the highest at 27.1 mn sq ft followed by NCR at 14.86 mn sq ft.

The cost of manpower, again, is one which goes against Mumbai. It is the most expensive with Rs 6.8 lakh as against Rs 3.6 lakh in Kolkata and Rs 4.9 lakh in Pune and Rs 5.5 lakh in Bangalore. PTI