2024 average office rents in major Indian cities exceed pre-pandemic levels, increasing 2-8% since 2019.

In 2024, average office rents in six major Indian cities—Delhi-NCR, Pune, Mumbai, Bengaluru, Chennai, and Hyderabad—have exceeded pre-pandemic levels for the first time, rising 2-8% since 2019. Delhi-NCR and Pune saw the highest increases at 8%. The swift recovery in demand for commercial real estate is expected to stabilize with an annual space take-up of 60 million sq ft. Certain prime micro markets experienced rental growth of up to 25% in five years.

October 23, 2024
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