Latest News | Office Space Demand in Apr-Jun in Top 7 Cities Rises 11 Pc to 178 Lakh Sq Ft: Colliers
Get latest articles and stories on Latest News at LatestLY. Gross leasing of office space rose 11 per cent to 178 lakh sq ft across seven major cities during the April-June period on healthy demand from corporates despite global economic uncertainties, according to Colliers.
New Delhi, Jun 26 (PTI) Gross leasing of office space rose 11 per cent to 178 lakh sq ft across seven major cities during the April-June period on healthy demand from corporates despite global economic uncertainties, according to Colliers.
The gross leasing stood at 161 lakh sq ft in the year-ago period across seven major cities.
Real estate consultant Colliers India data showed that demand of workspace increased in six cities -- Bengaluru, Chennai, Delhi-NCR, Hyderabad, Kolkata, and Pune.
The leasing activities declined only in Mumbai, as per Colliers.
The gross absorption or leasing does not include lease renewals, pre-commitments and deals where only a letter of Intent has been signed.
"India's office market continues its upward trajectory in 2025, building on the momentum of past two years," said Arpit Mehrotra, Managing Director, Office Services, India, Colliers.
Backed by diversifying occupier base, a steady supply pipeline and growing investor appetite, he said the calendar year 2025 is shaping up to be another impressive year for commercial real estate in India.
"Overall, office space demand looks well placed to reach 65-70 million sq ft at least by the end of the year," Mehrotra projected.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)