According to a recent report by real estate consultant Colliers India, office leasing across the top 7 cities in India showed mixed results during the January-March period. While some cities saw a rise in leasing activities, Hyderabad and Kolkata experienced a significant downturn.
The report highlights that a total of 15.9 million square feet of office leasing transactions occurred across the top 7 cities, marking a 15% growth compared to the 13.8 million square feet recorded in the same period last year. However, Hyderabad saw a major decline, with only 1.7 million square feet leased this year, a sharp 41% drop from the 2.9 million square feet leased in the first quarter of 2024. This decline has raised concerns about the future of office leasing in the city, especially as demand from both domestic and international companies continues to be strong in other regions.
