Office Space Leasing to Surpass 60 Million Sq Ft in 2024


Office space leasing in India is projected to exceed 60 million square feet by the end of 2024. This anticipated growth highlights a robust demand for commercial real estate driven by economic recovery, business expansion, and evolving workplace needs.

The surge in leasing activity reflects several key trends in the commercial real estate sector. Companies are increasingly seeking flexible and scalable office spaces to accommodate hybrid work models and expanding operations. The rise in demand is also fueled by the resurgence of business confidence and an uptick in corporate investments.

Major cities such as Bengaluru, Mumbai, and Delhi-NCR are expected to lead in office space transactions, driven by their status as key business hubs and the presence of numerous multinational corporations. The growth in leasing activity is anticipated to contribute to a positive outlook for the commercial real estate market, with significant investments in office infrastructure and amenities.

Additionally, the shift towards sustainable and tech-enabled office environments is influencing leasing decisions. Companies are prioritizing green buildings and spaces equipped with advanced technologies to enhance employee productivity and support corporate sustainability goals.

The projected increase in office space leasing underscores a favorable market environment for real estate developers, investors, and businesses looking to optimize their office portfolios in response to evolving market dynamics.

Related Stories

Office Space Leasing Hits 34.8M Sq Ft in H1 2024

Vacancy Rates Drop Amid Surging Demand and Limited Supply

HDFC Bank leases 1 lakh sq ft in Blackstone's Mumbai Towers for 5 yrs

The deal was finalised and officially recorded in the previous week.

HDFC Bank leases office space at Mindspace REIT's park for 10 years

HDFC Bank has leased more than 250,000 sq ft of office space