Office leasing improved across the top 8 cities in the country, including Hyderabad, during the January-March quarter of this year. Compared to the same quarter last year, there was a 4.5% growth, with a total of 202.9 million square feet (sq. ft.), according to real estate consultant Cushman & Wakefield. Last year, the same quarter recorded 194.2 million sq. ft. Notably, net office leasing showed a 20% increase, reaching 134.4 million sq. ft. across the eight cities.
However, in Bengaluru, office leasing in the March quarter was 28% lower than the same period last year, with a total of 48.6 million sq. ft. In the previous year, gross leasing was 67.4 million sq. ft., and net office leasing was also 33% lower, at 24.9 million sq. ft., according to the report.
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