Office space leasing activity up 66% YoY in Jan-Sept of 2022: CBRE report

Benguluru, Delhi-NCR and Chennai led the space absorption, together accounting for 62% of total transaction activity in the first nine months of the Calendat year

The office sector in India witnessed a gross absorption of 42.1 million sq ft during the first nine months of 2022, registering a growth of 66 per cent YoY. Supply, on the other hand, grew by 4 per cent to 35.6 million sq ft, according to a CBRE report.

According to the report, Benguluru, Delhi-NCR and Chennai led the space absorption, together accounting for 62 per cent of the total transaction activity in the first 9 months(9M) of 2022.

Benguluru, followed by Mumbai and Delhi-NCR, led two-thirds of the transaction activity in the third quarter(Q3). However, absorption in the first nine months