New supply of office space in top 7 cities down 4% in July-September; demand up 17%: Vestian

Quick Summary:

India's major cities saw a 4% year-on-year decline in new office space supply in the third quarter of 2024, reaching 12.8 million square feet, while office space leasing rose 17% to 18.61 million square feet.

Bengaluru experienced a significant 84% surge in office leasing, while Hyderabad's leasing activity declined.

The new supply of office space in Mumbai remained flat at 0.90 million square feet during the July-September period.

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Article Details

Author / Journalist: PTI

Category: EconomyBusiness

Markets: IndiaAustraliaFinlandGermanyParaguay

Topics: BFSI sector demand for office space Real estate market report Commercial real estate demand Office space supply decline Business news Bengaluru office leasing surge

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-19 @ 17:38:46 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 731 words

Reading Time: 5 minutes read

Sentences: 28 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 23694712

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