Net Office Leasing Down 34% In Top 7 Indian Cities; Space Demand At 6-Quarter Low, Says Report

Net Office Leasing Down 34% In Top 7 Indian Cities; Space Demand At 6-Quarter Low, Says Report

Net leasing stood at 11.55 million square feet in the year-ago period across seven cities — Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad and Pune.

Net Office Leasing Drops 34% To Six-Quarter Low Across Top 7 Cities: JLL India

Net leasing of office space fell 34% in the January-March quarter to 7.63 million square feet across seven major cities, as corporates were cautious on expansion amid global uncertainties, according to JLL India.The net leasing fell to the lowest in six quarters, as per the data by real estate consultant JLL India.Net leasing stood at 11.55 million square feet in the year-ago period across seven cities— Delhi-NCR, Mumbai, Chennai, Kolkata, Benga…

Top 7 Indian cities’ January-March net office leasing touches 6-quarter low

The share of leasing in the technology sector, the mainstay of the country’s office market, too has hit a six-quarter low due to slow hiring and global challenges impacting the overall numbers. Net absorption decreased 34% on-year and 4.5% sequentially to 7.63 million sq ft, showed data from JLL India.