- This year, there is a chance of 10-15 million square feet of leasing
- Report revealed by Colliers India
In office space leasing, Hyderabad is showing significant growth. Real estate consultant Colliers India has predicted that this year, the city will register the highest growth in this sector. The report also states that similar trends will be seen in Delhi.
It is expected that leasing activities of Grade-A office spaces will be recorded at 10-15 million square feet in both these cities. Across six major cities in India, office space leasing is expected to be strong, with a total of 65-70 million square feet of leasing anticipated this year.
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The report estimates that the total office leasing in 2024 across these six cities was 66.4 million square feet, and this year it is expected to range from 65 to 70 million square feet. Colliers India’s Managing Director of Office Services, Arpit Mehrotra, stated that one-third of the overall office space demand this year will come from Bengaluru.
Demand will come from GCCs (Global Capability Centers), engineering and manufacturing companies, and flexible office space operators. He also mentioned that Mumbai, Chennai, and Pune might have demand in the range of 5-10 million square feet.
