+
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.

Related Stories

Gold Stories

Next Story
Real Estate

The Energy-Smart Buildings

Passive design is an integral part of energy-efficient architecture. Sophisticated building systems also contribute to this end. But what role do materials play in enhancing a building’s energy-efficiency?“Material selection is one of the earliest opportunities to influence how a building performs,” says Tejbeer Singh, Principal Architect & Founder, Expressionist by Tejbeer Singh. “The objective is not simply to select materials that look appropriate but to understand how they behave within the climate and construction system.”To read the full article Click Here ..

Next Story
Infrastructure Transport

When the Lowest Bid Comes at a Cost

India's infrastructure sector is building at a scale few markets can match. New highways, expressways, metros, bridges and complex engineering projects are transforming the country's landscape. Yet, behind this rapid expansion is a growing concern within the contracting community: Can infrastructure be delivered sustainably when competition pushes prices below commercially viable levels?For Praveen Sethia, Founder & Director, Infra Advisors, who moderated the discussion, the question goes beyond the contractor's commercial interests. Contractors may be one of the two parties to a contract,..

Next Story
Real Estate

Ultra-Luxury Projects Reshape Gurugram’s Housing Market

Gurugram’s luxury housing market has expanded beyond its traditional prime locations, with corridors such as Dwarka Expressway and Golf Course Extension Road emerging as key centres for premium residential development. Larger homes, integrated developments and amenity-led communities are attracting demand from end-users and investors.A 2025 report by Sotheby’s International Realty in collaboration with CRE Matrix identified Gurugram as India’s fastest-growing ultra-luxury housing market. The city overtook Mumbai in total sales value for homes priced above Rs 10 crore, recording nearly Rs..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code