Gross office space leasing up 31% in Jul-Sept across top 6 cities: Colliers

Demand for office space continues to be strong with gross leasing rising 31 per cent in July-September quarter across six major cities, according to Colliers India.

Real estate consultant Colliers India data showed that the gross office leasing rose to 17.3 million square feet in July-September from 13.2 million square feet in the year-ago period.

Bengaluru and Hyderabad accounted for over half of the leasing activity during this period.

Bengaluru registered its highest-ever leasing in any quarter at 6.3 million sq ft, up 85 per cent from 3.4 million square feet in the year-ago period.

In Pune, gross leasing rose to 2.6 million sq ft from 1 million square feet.

Office space leasing in Mumbai and Chennai remained flat at 1.7 million square feet and 1.4 million square feet, respectively.

Hyderabad witnessed a 16 per cent increase to 2.9 million square feet from 2.5 million square feet.

Office demand in Delhi-NCR fell 25 per cent to 2.4 million square feet in July-September 2024 fr