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India's office real estate market saw record leasing in 2024, led by Bengaluru with a 66% increase.
In 2024, India's office real estate market saw record leasing volumes, with Bengaluru leading at 14.74 million sq ft, a 66% increase year-over-year.
Top cities like Mumbai, Delhi NCR, and Hyderabad also contributed significantly.
The IT-BPM, engineering, and BFSI sectors were key drivers, with coworking spaces accounting for 14% of demand.
Net absorption reached 50 million sq ft, outpacing the pre-COVID peak by 7 million sq ft. Flex office space providers are increasingly pre-leasing large spaces amid supply shortages, pushing rental prices up by 5% by 2024.
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El mercado inmobiliario de oficinas de la India vio un arrendamiento récord en 2024, liderado por Bengaluru con un aumento del 66%.