Office Rentals

Average office rentals in India's top cities rose to nearly ₹90 per sq ft in 2025, while vacancy fell to 16.2% amid rising absorption and steady demand, says Anarock Research

The growth was driven by strong leasing activity and robust net absorption, as companies expanded their workforce and office space in major cities

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

Sumadhura Group debuts in the managed office market with Workship in Bengaluru, plans to expand across India with over 10,000 seats and 1 million sq ft by 2027

From 2022 to 2025, a powerful post-pandemic rebound has fuelled consistent and growing demand for premium workspaces-especially in hotspots like the Mumbai Metropolitan Region (MMR), Delhi NCR.

A recent Reuters poll of housing experts also indicated that both house prices and rentals are likely to outpace consumer inflation this year

Research by Vestian showed that 2024 recorded the highest-ever leasing activity of 70.7 mn sq ft, marking an annual increase of 16%

Office rents in Delhi-NCR clock the highest increase, rising by 8.3% in 2024 compared to 2019

Net absorption of office space rose 14 per cent annually during July-September period across seven major cities on better demand, according to JLL. Real estate consultant JLL's latest data showed that the net absorption of office space stood at 12.16 million square feet in the third quarter of this fiscal year as against 10.69 million square feet in the year-ago period. Net absorption is calculated as the new floor space occupied less floor space vacated. According to the data, the net absorption of office space in Bengaluru increased to 4.14 million square feet during July-September from 2.38 million square feet in the corresponding period of the previous year. The net demand in Chennai grew to 1.05 million square feet from 0.90 million square feet. Delhi saw net absorption of 1.92 million square feet as against 1.7 million square feet. Net absorption of office space rose to 1.85 million square feet from 1.53 million square feet. In Pune, the net office demand increased to 1.8

In the last five years, the total footprint of flex space operators in India has doubled owing to high demand as well as supply, according to Cushman & Wakefield

Net office space leasing across seven major cities is likely to remain stable at 37-39 million sq ft during this calendar year, despite global economic concerns and is expected to rise 20 per cent next year, according to JLL. Net absorption, or leasing of office space, stood at 37.99 million sq ft during the 2022 calendar year in seven major cities -- Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad, and Pune. The office space demand hit a record at 47.92 million sq ft in 2019, but declined sharply to 25.38 million sq ft in 2020 and 26.03 million sq ft in 2021, according to real estate consultant JLL India data. The consultant said the office sector has seen sustained growth in demand this year despite global sluggishness, and is poised to achieve the next level of growth in 2024. "Net absorption from January-September 2023 was 26 million sq ft, which is 68 per cent of the 2022 full-year number. In 2023, net absorption in the office market is expected to be at par with 202

Average monthly rentals for prime office space in India's top seven cities are very low at USD 0.4-2 per square feet, which is one of the major factors driving demand for workspace from global firms, according to Vestian. Real estate consultant Vestian on Sunday released rentals data for major cities globally, which showed that average rent in New York, London, Miami, Seattle and Boston is USD 40-80 per sq ft per month. Rentals in Hong Kong, Singapore and Shanghai are USD 3-8 per sq ft a month. Vestian said the demand for office spaces in the medium to long term would remain strong in India's seven big cities because of cost-effectiveness. Shrinivas Rao, CEO, Vestian, said: "Indian office market has grown leaps and bounds in the past decade due to robust demand from large multinational companies. These companies set up their operations in India to reap the cost benefits." The demand for office spaces in India is expected to be buoyant amid current macroeconomic uncertainty across

Rents at Khan Market are almost double the most expensive retail locations in the financial capital, Mumbai

Retailers Association of India says retail market size is expected to touch $2 trn by 2032; also, retail sales surpassed pre-pandemic and grew by 19% in 2022

Twitter CEO Elon Musk on Sunday said that office rentals in San Francisco will further drop, as the city is reeling under the pressure after massive tech layoffs and company offices being shut

As per the data, transaction volumes for offices have gone up but the rental levels have also stabilised or grown in YoY and sequential terms across all markets.

Average monthly office rentals rise across cities, highest in NCR and Hyderabad at 5%

Office rentals in Delhi-NCR rose by an average of 8 per cent in the first six months of this year, according to property consultant Savills India. In its latest report 'India Market Watch Office H1 2022', Savills mentioned that the Delhi-NCR witnessed gross absorption of 5.6 million square feet in H1 (January-June) 2022, up by 194 per cent from H1 2021. "Unlike H1 2021, which saw almost equal share in the leasing activity from Gurugram and NOIDA, the first half of 2022 witnessed varied leasing activities from these two regions," the report said. Gurugram contributed to around 64 per cent of the overall absorption in Delhi-NCR, while Noida had only 34 per cent share. Overall, absorption in Delhi went down from 4 per cent in H1 2021 to 2 per cent in H1 2022. "Average rentals in the city have increased by 8 per cent year-on-year (Y-O-Y). MG Road & Gurugram micro markets reported the highest appreciation in rents with 20 per cent and 15 per cent Y-O-Y respectively," the report ...

While there has been a significant decline in sales sequantially and annually, rents are holding in top markets, says one study

While 2019 saw a record office absorption of 42 million square feet in top cities, this year, it is expected to come down to 30 million sq ft and additional leasing is expected to come down sharply