Office market surges to 16.2 mn sq ft transactions in Q1 2024; Residential sector keeps pace with sale of 86,345 units Hindustan Times
Office space transactions across the top eight markets in India touched 16.2 million square feet (mn sq ft) in Q1 2024, marking a 43% year-on-year (YoY) growth in Q1 2024. As far as the residential market is concerned, home sales surged by 9% YoY to 86,345 units, second only to Q4 2023 in six years. Mumbai led with 23,743 units sold, marking a 17% YoY increase, a report by Knight Frank titled India Real Estate: Office and Residential Report (January - March 2024) has said. Bengaluru leads office market growth Bengaluru spearheaded the office market growth, securing the top position with 3.5 mn sq ft of transactions, constituting 22% of the total office take-up during the first quarter of 2024.
