Renowned real estate agency Colliers India has predicted that the office space leasing activity will register a decrease during the current year by 20% to limit the leasing activity to 40 million sft. This is attributed to various companies postponing their expansion plans. The Colliers India released its latest report indicating the statistics related to six main cities of the country with regard to office space leasing. The report indicated that on the whole the office space leasing activity would not be more than 40-45 million sft as against the 50.3 million sft registered last year, indicating a decrease in the leasing activity.
During the first six months of the current year, the quantum of the office space leased was put at 24.7 million sft. The report predicted that by December-end the leasing activity would be around 15.3-20.3 million sft. Cities wise, Bengaluru registered the highest leasing activity of 12-14 million sft, followed by Delhi (9-11 million sft), Chennai (7-9 million sft). The Hyderabad, Mumbai and Pune market registered more or less the same leasing activity that ranges between 4 million sft and 6 million sft.
