The office market in India is typically driven by cities like Bangalore and Delhi-NCR, forming 59% of the office demand in the last four years, said Colliers. Some large deals closed in the first quarter of 2024 included Tablespace, Samsung, ANSR, and TATA Agratas, leasing large floor spaces upward of 1.5 lakh sq ft across Hyderabad d and Bangalore.
Office space demand across six major cities continues to be strong, with gross leasing of workspaces set to rise 35 per cent annually in the January-March quarter, according to Colliers India.
Real estate consultant Colliers India has released the data on the office market for the January-March
The report states that the IT/ITeS sector will be the main driver of the office space demand in 2024, followed by the BFSI, manufacturing and e-commerce sectors., Real Estate News, Times Now
Office Space Demand Likely At 50-55 Million Sq Ft This Year Across Top 6 Cities: Report freepressjournal.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freepressjournal.in Daily Mail and Mail on Sunday newspapers.
India s six major cities are expected to lease 50-55 million sq ft of office space this year, with the demand potentially going up to 55-60 million sq ft in an optimistic scenario. Domestic origin companies are expected to contribute significantly to the office space uptake in 2024.