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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 ..
Office space leasing across India's top seven cities rose 6 per cent to 71.5 million square feet this year on better demand from domestic and foreign companies, according to Colliers. Real estate consultant Colliers India on Wednesday noted that the office demand is expected to remain robust next year, driven by growth in technology and BFSI (Banking, Financial Services, and Insurance) sectors. As per the data, the gross leasing of Grade A office spaces is estimated to have increased to 71.5 million square feet this year across seven major cities from 67.2 million square feet in the 2024 calendar year. The demand fell in Mumbai and Hyderabad, but increased in the other five cities -- Chennai, Bengaluru, Pune, Kolkata and Delhi-NCR. Gross absorption does not include lease renewals, pre-commitments and deals where only a letter of Intent has been signed. "India's office market continues to scale up and set new highs every passing year," said Arpit Mehrotra, Managing Director, Office
Leasing of retail space in shopping malls and high streets across India's top eight cities is estimated to rise 15 per cent to nearly 9 million sq ft this year on increased supply amid high demand from retailers, according to Cushman & Wakefield. The leasing of retail spaces stood at 7.8 million sq ft in 2024. Real estate consultant Cushman & Wakefield on Tuesday released the data of retail demand across eight cities -- Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Pune, Hyderabad, and Ahmedabad. The leasing of retail spaces in high-street locations of these eight cities is estimated to increase to 5.4 million sq ft this year from 5.3 million sq ft in 2024 calendar year. The demand of retail spaces in shopping malls increased to 3.8 million sq ft from 2.5 million sq ft during the period under review. The consultant noted that 2025 would see the highest annual absorption of retail spaces since the Covid pandemic that hit India in 2020. "India's retail real estate market is ...