The office market in India saw a robust 14 per cent growth (year-on-year) in 2024, with leasing activity across the top six cities reaching 66.4 million square feet, according to a report on Tuesday.Bengaluru led the Grade A office space demand, with highest-ever leasing volume of 21.7 million sq ft, an impressive 40 per cent growth, as per a Colliers report.Demand scale-up was also evident in Hyderabad and Mumbai. With 12.5 and 10.0 million square feet of leasing activity respectively, both cities witnessed double-digit annual office space demand for the first time in 2024.Delhi-NCR too witnessed healthy space uptake and Grade A demand almost touched 10 million square feet mark in 2024. "New supply in the year also remained above 50 million sq ft mark and kept vacancy levels rangebound. 2025 demand can potentially stabilise at elevated levels and annual space uptake exceeding 60 million sq ft is likely to be new norm for next few years," said Arpit Mehrotra, MD, Office services, India, Colliers.

Office leasing market sees 14% growth in 2024

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