Office room leasing in tiny workplace or rooms listed under 50,000 sq ft have been tape-recorded at 11.7 million sq. ft, making up 34 p.c of the entire office want. (Getty)
Transactions for workplace over 1 lakh sq. ft stood at 15.69 million sq. ft all through the very first fifty p.c of this fiscal 12 months, in accordance with property specialist Knight Frank.
Around 55 p.c of the entire office want all through January-June period all through 8 important cities was for a location roughly 1 lakh sq. ft whereas the staying 45 p.c leasing offers have been for greater workplaces, in accordance with Knight Frank India.
Real property specialist Knight Frank data revealed that offers for workplace over 1 lakh sq. ft stood at 15.69 million sq. ft all through the very first fifty p.c of this fiscal 12 months. “Large office space contributed 45 per cent of the overall commercial transactions across eight leading cities in the country,” it included.
Office room leasing in mid-segment or rooms in between 50,000 sq. ft and 1,00,000 sq. ft was tape-recorded at 7.28 million sq. ft all through January-June 2024, making up 21 p.c of the entire leasing offers all through this period.
The specialist’s data revealed that office leasing in tiny workplace or rooms listed under 50,000 sq ft have been tape-recorded at 11.7 million sq. ft, making up 34 p.c of the entire office want.
Shishir Baijal, Chairman and Managing Director, Knight Frank India, claimed, “Bengaluru remains the most attractive office market for large occupiers looking to expand their Indian operations. The rise in office space transactions is primarily fuelled by corporations establishing Global Capability Centres (GCCs) to expand their long-term operations in the market.” Flexible workplaces proceed to be vital, providing versatility and worth monetary financial savings for fields equivalent to third-party IT options and start-ups, he included.
Bengaluru- based mostly designer Sumadhura Group Chairman and Managing Director Madhusudhan G claimed, “Large office spaces have seen a significant uptick in leasing activity, driven by sustained interest from GCC and global clients seeking strategic footprints in India’s growing commercial hubs.” This want is a sworn statement to the sturdiness of the market, with each worldwide and residential inhabitants shopping for lasting workplace companies, he included.
(This story has truly not been modified by News 18 workforce and is launched from a syndicated data agency feed – PTI)
