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Gross leasing of office spaces fell 2 per cent to 17.4 million sq ft during April-June across seven major cities on lower fresh supply, according to Colliers India. The gross leasing stood at 17.8 million sq ft in the year-ago period. Leasing of office spaces rose in Bengaluru, Delhi-NCR and Hyderabad, but fell in Mumbai, Pune, Chennai and Kolkata. As per the data, the gross leasing rose 8 per cent in Bengaluru to 5.2 million sq ft during April-June from 4.8 million sq ft in the year-ago period. In Delhi-NCR, the office leasing increased 23 per cent to 2.7 million sq ft from 2.2 million sq ft. The leasing in Hyderabad rose 19 per cent to 3.8 million sq ft from 3.2 million sq ft. However, the gross leasing in Mumbai fell 29 per cent to 2 million sq ft from 2.8 million sq ft. Chennai witnessed a fall of 23 per cent to 2 million sq ft from 2.6 million sq ft, while Pune saw a decline of 25 per cent to 1.2 million sq ft from 1.6 million sq ft. In Kolkata, the office leasing fell 17 per
Demand for office space remained strong this quarter despite global uncertainties, as gross leasing of workspace rose 15 per cent to 18.3 million sq ft across seven major cities, according to Colliers India. Real estate consultant Colliers India on Thursday released the data for office market for the January-March period of this calendar year. Gross leasing of office space across seven cities -- Bengaluru, Chennai, Delhi-NCR, Hyderabad, Kolkata, Mumbai, and Pune -- stood at 18.3 million sq ft during the current quarter as against 15.9 million sq ft a year ago. "This continued momentum has been supported by strengthening occupier demand across sectors and expanding Global Capability Centres (GCCs) footprint, despite ongoing global uncertainties," the consultant said. Bengaluru, the biggest office market, saw an 18 per cent growth in office leasing to 5.3 million sq ft during January-March from 4.5 million sq ft in the corresponding period of the preceding year. In Hyderabad, the ..