Net absorption refers to actual space physically occupied minus vacated space and excludes pre-committed space until occupation.

Gross leasing climbed 28 per cent to 19.46 million square feet — the highest first-quarter volume recorded for any calendar year. This figure includes all completed lease transactions, including pre-commitments, but not renewals or deals still under negotiation.

The seven cities covered are Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, and Pune.

JLL noted this strong start signals sustained confidence in India’s commercial real estate sector despite evolving hybrid work patterns.

The report also suggests robust demand from sectors like technology, global capability centres, and financial services is supporting long-term office space growth across metro markets.

Source: Press Trust of India