Office Leasing Flat

Office space leasing in Delhi-NCR more than doubled to 2.62 million square feet during April-June on better demand of workspace in Gurugram and Noida from corporates, according to Vestian. On Friday, US-based real estate consultant Vestian released its report on India's top seven office markets that showed a 10 per cent rise in absorption or leasing of office space to 18.79 million sq ft during the second quarter of this calendar year. The consultant attributed the rise in demand to increased activities in three southern cities (Bengaluru, Hyderabad and Chennai), whose share rose to 59 per cent from 46 per cent in January-March quarter. As per the data, Bengaluru retained its dominant position with leasing of 5.62 million sq ft area in the latest June quarter, an increase of 32 per cent from the year-ago period. In Hyderabad, the demand grew 5 per cent to 3.56 million sq ft, while Chennai saw a 4 per cent increase in leasing activities to 1.82 million sq ft. In Delhi-NCR, the off

Net absorption grew to 26.8 mn square feet across top 7 cities; Pune saw 188% rise, Bengaluru remained the leader in both new supply and total office space leased

The report highlighted that the co-working phenomenon is gathering speed