Gross leasing of office space rose 2 per cent to 14.6 million square feet across top six cities during April-June, from 14.3 million square feet in the year-ago period, driven by technology, engineering & manufacturing sectors.
Average office rentals remained stable during April-June at Rs 95 per square feet across six major cities as new supply rose 32 per cent, while demand grew by a modest 2 per cent, according to Colliers India.
Flat demand keeps office rent stable in Apr-Jun even as new supply rises 32% across top 6 cities: Colliers businessinsider.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessinsider.in Daily Mail and Mail on Sunday newspapers.
India's top eight cities have witnessed a 22 per cent decline in gross leasing of office space as global companies remain cautious about their expansion plans, according to Cushman & Wakefield.