Office Space Leasing Rises 14% in Top 6 Cities: Colliers India
Real Estate

Office Space Leasing Rises 14% in Top 6 Cities: Colliers India

Office space demand remained strong in 2024, with gross leasing rising by 14 per cent to reach a record 66.4 million square feet across six major cities, as reported by Colliers India. The gross leasing of Grade A office spaces stood at 58.2 million square feet for the 2023 calendar year.

Real estate consultant Colliers India released data for India’s six major office markets.

Bengaluru saw a record office leasing of 21.7 million square feet in 2024, marking a 39 per cent increase from 15.6 million square feet in the previous year.

In Hyderabad, gross office space leasing rose by 56 per cent to 12.5 million square feet, up from 8 million square feet.

Mumbai experienced a 43 per cent increase in demand, reaching 10 million square feet, compared to 7 million square feet in the prior year. Pune saw a more modest 4 per cent rise in office space leasing, increasing to 5.7 million square feet from 5.5 million square feet.

However, demand in Chennai and Delhi-NCR declined.

In Chennai, the gross leasing of office space dropped by 35 per cent, falling to 6.8 million square feet from 10.5 million square feet. Similarly, in Delhi-NCR, office space leasing decreased by 16 per cent, reaching 9.7 million square feet in 2024 compared to 11.6 million square feet the previous year.

The demand was primarily driven by technology firms, engineering and manufacturing companies, as well as financial services providers.

Office space demand remained strong in 2024, with gross leasing rising by 14 per cent to reach a record 66.4 million square feet across six major cities, as reported by Colliers India. The gross leasing of Grade A office spaces stood at 58.2 million square feet for the 2023 calendar year. Real estate consultant Colliers India released data for India’s six major office markets. Bengaluru saw a record office leasing of 21.7 million square feet in 2024, marking a 39 per cent increase from 15.6 million square feet in the previous year. In Hyderabad, gross office space leasing rose by 56 per cent to 12.5 million square feet, up from 8 million square feet. Mumbai experienced a 43 per cent increase in demand, reaching 10 million square feet, compared to 7 million square feet in the prior year. Pune saw a more modest 4 per cent rise in office space leasing, increasing to 5.7 million square feet from 5.5 million square feet. However, demand in Chennai and Delhi-NCR declined. In Chennai, the gross leasing of office space dropped by 35 per cent, falling to 6.8 million square feet from 10.5 million square feet. Similarly, in Delhi-NCR, office space leasing decreased by 16 per cent, reaching 9.7 million square feet in 2024 compared to 11.6 million square feet the previous year. The demand was primarily driven by technology firms, engineering and manufacturing companies, as well as financial services providers.

Next Story
Infrastructure Urban

100K EVs Retire in US; Batteries Enter Second Life

As over 100,000 electric vehicles retire in the US this year, their lithium-ion batteries are finding second lives in energy storage systems (ESS) rather than landfills.Many retain over 50% capacity, making them ideal for grid reliability and renewable integration. Redwood Materials, led by former Tesla CTO JB Straubel, repurposes 20 GWh of battery capacity annually.ESS built from these batteries stabilise power grids and support solar and wind infrastructure, especially in remote regions. While recycling is still dominant, the second-life battery market is projected to reach $5.2 billion by 2..

Next Story
Infrastructure Urban

Magenta to Deploy 250+ EVs for MOVER Logistics

Magenta Mobility has partnered with logistics tech platform MOVER to deploy and manage over 250 electric vehicles across major metros including Delhi NCR, Bengaluru, Hyderabad, and Chennai.The EV fleet will enhance delivery capacity, reduce emissions, and lower operating costs for MOVER. “With MOVER, we’re showing that sustainability and scale go hand-in-hand,” said Maxson Lewis, CEO, Magenta Mobility.The partnership aims to expand into Tier 2 cities within two years, capitalising on MOVER's tech-driven, asset-light model, especially in regions with fuel-based vehicle restrictions. This ..

Next Story
Real Estate

EFC Secures Rs 57 Cr Interior Fit-Out Contract from MNC

EFC (India) Ltd has been awarded a Rs 57 crore interior and fit-out contract by a leading multinational company. Scheduled for completion in 90 days, the project falls under the company’s design and build (D&B) division.The scope includes comprehensive commercial interiors, underscoring EFC's capabilities in large-scale infrastructure development. “This contract reaffirms our execution strengths and consistent quality,” said Umesh Sahay, Managing Director, EFC.The win marks another step in EFC’s expansion across integrated infrastructure services, reflecting the increasing trust of..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?