Moneycontrol.com-Office space absorption grows 30% in 9 months of 2024, Bengaluru leads top 6 cities
Office space absorption across six major Indian cities has shot up by around 30 percent on-year to 55.1 million square feet in the first nine months of 2024.
Experts estimate that the office space demand will surpass 70 million square feet by the end of 2024 across Mumbai, Bengaluru, Delhi NCR, Hyderabad, Chennai and Pune.
According to data from Savills India, a global real estate advisory firm, the year-to-date (YTD) leasing activity has set a new benchmark for the January-September 2024 period and with only 7 million sq ft remaining to surpass the 2023 total, the year 2024 is expected to achieve absorption levels in the range of 70-74 million sq ft.
