With the Baiyappanahalli-Whitefield metro project likely to be fully operational by mid-year, rentals of office spaces in Whitefield are to go up by about 8-10 per cent over the next two years, as per Colliers’ latest report “Bengaluru Metro Rail: Key office market impact”. The metro line towards Whitefield, which became partially operational in March 2023, has been one of the most anticipated lines in the city.Whitefield, the second largest office market in Bengaluru, has an office stock of about 40.4 million sq ft, with vacancy levels hovering around 17.2 per cent as of Q4 2022. However, the metro project is likely to boost occupier activity in the region, with enhanced accessibility and reduced commute time.“Bengaluru CBD has undergone a transformation through building upgradations, redevelopments and changes in land uses since the metro work commenced. This has spurred occupier activity in the area, leading to a 79 per cent increase in leasing during 2017-22 as compared to the preceding 6-year period. Today, the CBD market is experiencing low vacancy levels at 3.2 per cent, despite increased supply, indicating occupiers’ need to be centrally located with superior connectivity. Metro project has undoubtedly transformed the office market of CBD and will positively impact the Whitefield market as well in next 2-3 years as Baiyappanahalli - Whitefield metro begins operations.” says Vimal Nadar, Senior Director and Head of Research, Colliers India.The report highlights that the average annual supply in Whitefield rose by 10 per cent during 2017-22, as the construction of the metro project began, when compared to the 2011-16 period. Gross leasing in Whitefield rose 18 per cent during the metro construction stage (2017-22) compared to the planning stage (2011-16). In CBD, over the last 12 years from the time of metro project construction, about 64 per cent of total leasing has happened during the Metro operation stage (2017-22). Moreover, the office supply in the CBD rose more than 4 times during the operation stage (2017-22), led by the expected improved connectivity of the metro.