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Impressive growth achieved in pan India leasing
Domestic occupiers march ahead.
Delhi NCR and Bengaluru account for ~47% of the gross leasing in Q1 2024
Flex rise as tech continues to remain sluggish.
Gross Leasing (mn sq ft)
Net absorption up 10.9% Y-o-Y
Outlook: Market activity primed to surpass 2023 peak levels
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Market Q1 Average (2019-22) Q1 2023 Q1 2024 Y-o-Y Change
Bengaluru 3.54 3.12 3.09 -0.8%
Chennai 1.18 1.89 2.67 41.7%
Delhi NCR 2.64 3.99 4.03 1.1%
Hyderabad 1.73 0.97 1.37 40.4%
Kolkata 0.14 0.57 0.08 -86.5%
Mumbai 1.65 1.50 2.11 40.4%
Pune 0.75 1.28 1.81 41.4%
Pan India 11.65 13.32 15.16 13.8%