Explore Business Standard
Average office rentals remained stable during April-June at Rs 95 per square feet across six major cities as new supply rose 32 per cent, while demand grew by a modest 2 per cent, according to Colliers India. Real estate consultant Colliers India released its quarterly data of six major office markets -- Bengaluru, Delhi-NCR, Mumbai, Chennai, Hyderabad and Pune -- on Wednesday. Gross leasing of office space rose 2 per cent to 14.6 million square feet across top six cities during April-June, from 14.3 million square feet in the year-ago period, driven by technology, engineering & manufacturing sectors. Chennai saw a three-fold jump in office demand, beating Delhi-NCR and Mumbai in leasing activities. New supply of office space rose 32 per cent to 12.4 million square feet across these six cities from 9.4 million square feet. Weighted average rental remained flat at Rs 95 per square feet a month, across six cities. Peush Jain, Managing Director, Office Services, India, Colliers, ...