Key Points
Demand momentum is intensifying for office spaces across key property markets with both leasing tenures and volumes setting new standards, reflecting the growing confidence of occupiers in Indias growth story...
The Indian office market has recorded the longest weighted average lease term of 62 months in the last 14 months until February, which is the highest ever in the segment..
The rising tenure of lease transactions reflects the increasing prowess of Indias commercial segment and a robust supply of grade A and A+ offices that are being sought after by international companies and global capability centres (GCCs)...
The Indian office space sector has been setting new benchmarks in terms of both leasing volumes and tenures, as Indias macro-economic indicators remain healthy enough for international organisations and investors to bet big on, said Boman Irani, president, CREDAI..
Leasing of grade A office spaces across Indias key property markets surpassed pre-Covid levels in 2023 by crossing annual demand of 62 million sq ft, as compared to the average leasing of 54 million sq ft in 2018 and 2019..
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