Office leasing dips 13% MoM to 5.8 mn sq ft in Nov, up 60% YoY: JLL study

Experts cite global headwinds for the month-on-month dip

Office leasing activity for the month of November stood at 5.8 million sq ft, down 13.4 per cent month on month (MoM), a JLL report said. However, on a year-on-year (YoY) basis, it was up 59.5 per cent. Fresh leasing with expansion and relocation transactions dominated the bulk of occupier activity during the month.

Total leasing activity for the 6-month period June to November was up 25.2 per cent over the same period in 2021, the report said.

Bengaluru, Mumbai, and Chennai were the top three cities, with nearly 77 per cent of overall monthly leasing activity in November. Mumbai