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 Transport

Mumbai-Ahmedabad Bullet Train Set to Launch by 2028

India’s first bullet train is set to revolutionize high-speed travel along the western corridor, with the Mumbai-Ahmedabad high-speed rail project aiming for a 2028 launch. This announcement marks a major milestone in India’s infrastructure goals, as it promises to reduce travel time between the two economic hubs from eight hours to just three.Spanning a planned 508-kilometre stretch, the corridor stands as a flagship example of Indo-Japanese collaboration in technology and engineering. Once operational, the train is expected to transform intercity mobility and place India among the select..

Next Story
Infrastructure Transport

Mumbai-Gandhinagar Train Service Enhances Passenger Capacity

The Mumbai Central–Gandhinagar Capital Vande Bharat Express has increased its passenger capacity by adding four additional AC chair car coaches to meet the growing commuter demand on one of India’s busiest business corridors. This upgrade, effective from 11 May, raised the train’s seating capacity from 1,128 to 1,440 passengers, allowing it to serve 936 more passengers daily in both directions. The increase was described as a practical measure to accommodate the surging demand on the busy Mumbai–Ahmedabad–Gandhinagar route, which regularly operates at over 150 percent seat occupancy...

Next Story
Infrastructure Urban

Delhi Plans 12 Sewage Plants to Clean Najafgarh Drain Efficiently

Delhi’s ambitious plan to improve the water quality of the Yamuna River has gained significant momentum as the Delhi Jal Board (DJB) has begun work on 12 new sewage treatment plants (STPs) aimed at reducing the volume of untreated sewage being discharged from the Najafgarh Drain.This initiative forms part of the ongoing efforts to clean the Yamuna and restore the river’s health, which has long been a critical environmental issue for the national capital. Given the alarming pollution levels in the Yamuna, experts and officials consider this project a vital step toward addressing the persist..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?