Office Space Demand Surges: Bengaluru Leads the Charge

Net leasing of office space in India rose by 18% to a record 495.6 lakh square feet in 2024, driven by demand in IT hub Bengaluru. JLL India's data highlights strong growth across major cities, except Chennai and Pune which saw declines.

Net leasing of office space soared by 18% to an unprecedented 495.6 lakh square feet in 2024, fueled primarily by high demand in IT hub Bengaluru, JLL India reported.

The real estate advisory released fresh data indicating robust growth in several key office markets including Bengaluru, Delhi NCR, and Mumbai. However, declines were noted in Chennai and Pune.

The remarkable surge was underscored by an exceptional fourth quarter, with a record 185.3 lakh square feet net absorption, highlighting the sector’s expansive growth as global companies expand their footprint in India.

(With inputs from agencies.)