New Delhi, May 12 -- Nearly 50 per cent of India's office inventory in the top seven cities, including integrated technology parks and standalone properties, is over ten years old, indicating significant potential for retrofitting and value enhancement, according to a study by CBRE.

The release by CBRE further mentions that specifically, around 27 per cent of the total office stock is over 15 years old, and 23 per cent is between 10 to 15 years old, while only 28 per cent is less than 5 years old.

It also highlights the problem that a major portion of the total office stock of approximately 882 million sq. ft faces the risk of declining occupancy, stagnant rents, and functional obsolescence as occupiers increasingly prioritise modern, h...