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Office room leasing in tiny office or rooms listed below 50,000 sq feet were tape-recorded at 11.7 million square feet, making up 34 percent of the complete workplace need. (Getty)
Transactions for office over 1 lakh square feet stood at 15.69 million square feet throughout the very first fifty percent of this fiscal year, according to property specialist Knight Frank.
Around 55 percent of the complete workplace need throughout January-June duration throughout 8 significant cities was for a location approximately 1 lakh square feet while the staying 45 percent leasing deals were for bigger offices, according to Knight Frank India.
Real estate specialist Knight Frank information revealed that deals for office over 1 lakh square feet stood at 15.69 million square feet throughout the very first fifty percent of this fiscal year. “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 square feet and 1,00,000 square feet was tape-recorded at 7.28 million square feet throughout January-June 2024, making up 21 percent of the complete leasing deals throughout this duration.
The specialist’s information revealed that workplace leasing in tiny office or rooms listed below 50,000 sq feet were tape-recorded at 11.7 million square feet, making up 34 percent of the complete workplace need.
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 offices continue to be important, offering versatility and price financial savings for fields such as third-party IT solutions and start-ups, he included.
Bengaluru- based 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 need is a testimony to the durability of the market, with both worldwide and residential inhabitants buying lasting office services, he included.
(This tale has actually not been modified by News 18 team and is released from a syndicated information firm feed – PTI)
