Office space leasing is estimated to fall 1 per cent during July-September to 172 lakh square feet across seven major cities, mainly on lower demand in Bengaluru, Hyderabad and Delhi-NCR, according to Colliers India.
The gross leasing of office space stood at 174 lakh (17.4 million) sq ft in the year-ago period.
Gross absorption does not include lease renewals, pre-commitments and deals where only a Letter of Intent has been signed.
According to the data, the gross office space leasing in Bengaluru is set to fall 25 per cent to 47 lakh (4.7 million) sq ft in the third quarter of this year from 63 lakh (6.3 million) sq ft in the year-ago period.
In Delhi-NCR, the office leasing is projected to decline to 16 lakh (1.6 million) from 24 lakh (2.4 million) sq ft.
Hyderabad too is likely to witness a fall of 48 per cent in workspace demand to 15 lakh (1.5 million) sq ft from 29 lakh (2.9 million) sq ft.
Colliers India did not provide the reasons for likely decline in office leasing …​Office space leasing is estimated to fall 1 per cent during July-September to 172 lakh square feet across seven major cities, mainly on lower demand in Bengaluru, Hyderabad and Delhi-NCR, according to Colliers India.
The gross leasing of office space stood at 174 lakh (17.4 million) sq ft in the year-ago period.
Gross absorption does not include lease renewals, pre-commitments and deals where only a Letter of Intent has been signed.
According to the data, the gross office space leasing in Bengaluru is set to fall 25 per cent to 47 lakh (4.7 million) sq ft in the third quarter of this year from 63 lakh (6.3 million) sq ft in the year-ago period.
In Delhi-NCR, the office leasing is projected to decline to 16 lakh (1.6 million) from 24 lakh (2.4 million) sq ft.
Hyderabad too is likely to witness a fall of 48 per cent in workspace demand to 15 lakh (1.5 million) sq ft from 29 lakh (2.9 million) sq ft.
Colliers India did not provide the reasons for likely decline in office leasing … ​Latest News [ SOBAN NEWS: International and National ]
