Key southern cities dominate office demand in Apr-Jun quarter

24 Jul 2023 CW Team

India's three key southern cities—Bengaluru, Chennai and Hyderabad—dominated office demand with the contribution of 59% of the total office leasing across the top 7 cities during the quarter ended June, according to Vestian.

As per the data, the combined office leasing in three major southern cities stood at 8.2 million square feet, out of a total 13.9 million square feet absorbed in the April-June quarter of this calendar year.

Across seven major cities, office leasing fell 6 per cent to 13.9 million square feet during April-June as against 14.8 million square feet in the year-ago period due to delays in decision-making by large domestic firms and MNCs amid global uncertainties.

However, the demand was up 17 per cent compared with the previous quarter.

"Despite global headwinds, the Indian economy has performed well. India's GDP growth rate showed improvement in the last quarter of FY23. Financial markets also performed well, reflecting positive sentiment in the country,” said Vestian CEO Shrinivas Rao.

"Hiring intentions for Q3 2023 improved, indicating optimism about India's growth prospects. The resilience of the Indian economy was reflected in the Indian office market as well, with increased absorption and a fading impact of funding challenges," he said.

Technology sector dominated leasing activities, followed by engineering and manufacturing, while flexible spaces also gained traction due to cautious leasing decisions amidst market uncertainty.

Real Estate

08 Oct 2025

Bennet & Bernard Unveil Dutch-Inspired ‘Casa El Toledo’ in Goa

Bennet & Bernard Group, Goa’s leading luxury real estate developer, has launched its newest project, Casa El Toledo, in Assagao. The enclave features 18 ultra-luxury 4 BHK Dutch-style villas blending European charm with tropical elegance. Each villa includes a private pool, double-height ceilings, open courtyards, alfresco dining areas, and English-inspired landscaping. The interiors are curated by noted Dutch designer Kelly Marie. Reflecting the grandeur of the Dutch Golden Age, Casa El Toledo harmonises heritage aesthetics with modern sensibilities. Expansive interiors flow..

Godrej Delivers Heaviest Ecolaire Surface Condenser to US Project

Godrej Enterprises Group’s Process Equipment business has manufactured and delivered its heaviest Ecolaire® Surface Condenser to date, weighing nearly 450 metric tonnes, for a power-generation project in the United States. The project, powered by natural gas and partly designed for hydrogen compatibility, marks another step in advancing clean energy systems. Produced at the company’s GreenCo-certified Dahej facility in Gujarat, the equipment demonstrates India’s growing engineering capabilities and reinforces Godrej’s ‘Make in India for the World’ vision. Hussain S..

India, Brazil Discuss Energy Ties And Oil Investments

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri held discussions with Celso Luis Nunes Amorim, Special Advisor to the President of Brazil, and senior Brazilian officials to strengthen bilateral cooperation in the oil, gas, and energy transition sectors. The talks took place during a dinner hosted by Kenneth H da Nobrega, Ambassador of Brazil to India, at his residence in New Delhi.Mr Puri said the meeting focused on Indian investments in Brazil’s oil and gas sector, as well as expanding collaboration in energy transition and biofuels. “The enriching conversation revolved ar..