Office space leasing up 25% at 11 msf in March quarter: Knight Frank

Bengaluru remained the biggest market with total office space leasing of 3.5 msf of office space, followed by Delhi-NCR which recorded 2.3 msf of gross leasing in the first three months of 2022

Office space transactions grew 25 per cent year-on-year in the March quarter to 10.8 million square feet (msf), according to a report by real estate consulting firm Knight Frank.

Bengaluru remained the biggest market with total leasing of 3.5 msf of office space, followed by Delhi-NCR which recorded 2.3 msf of gross leasing in the first three months. New completion in the first quarter (Q1) of CY22 was recorded at 11.9 msf led by Pune that saw fresh supply of 3.6 msf followed by Bengaluru with 2.5 msf of new office spaces. 

Rents have stabilised or grown in sequential terms