Developers likely to face tough time in office leasing, says study

About 90 million square feet of lease renewals coming up this year, says a report by Anarock

Property developers could face serious challenges in leasing out office properties in the remaining part of this calendar year.
 
This is because over 7,400 leases of around 90 million square feet area will come up for renewal in 2021 across the top six commercial hubs in the country.
 
These cities are Bengaluru, Mumbai, Pune, Chennai, Gurugram and Noida.
 
The year 2021 has seen the highest lease expiry pipeline when compared to 2022 and 2023.
 
The year 2022 will see nearly 7,000 leases for about 78 million square feet come up for renewal and around 4,200 leases