Net leasing of office space rose 44 per cent annually in this quarter across eight major cities on higher demand from corporates for expansion of their businesses, according to Cushman & Wakefield.
According to data released on Saturday by real estate consultant Cushman & Wakefield (C&W) India, the net leasing of office space stood at 115.14 lakh (11.5 million) square feet (sq ft) during January-March as against 80.09 lakh (8 million) sq ft in the year-ago period.
“This is the third-highest level recorded in the last five years, demonstrating a robust appetite for office space among businesses,” the consultant highlighted.
Net absorption or leasing rose in Bengaluru, Mumbai, Delhi-NCR and Chennai but fell in Pune, Hyderabad, Kolkata and Ahmedabad.
“The Indian office market is experiencing a robust momentum. We haven’t witnessed 20 million square feet of gross leasing being recorded for two consecutive quarters in recent history.
“This strong performance may signal a shift .
According to data released on Saturday by real estate consultant Cushman & Wakefield (C&W) India, the net leasing of office space stood at 115.14 lakh (11.5 million) square feet (sq ft) during January-March as against 80.09 lakh (8 million) sq ft in the year-ago period.
“This is the third-highest level recorded in the last five years, demonstrating a robust appetite for office space among businesses,” the consultant highlighted.
Net absorption or leasing rose in Bengaluru, Mumbai, Delhi-NCR and Chennai but fell in Pune, Hyderabad, Kolkata and Ahmedabad.
“The Indian office market is experiencing a robust momentum. We haven’t witnessed 20 million square feet of gross leasing being recorded for two consecutive quarters in recent history.
“This strong performance may signal a shift .
