Office Spaces

NCR, Ahmedabad, and Mumbai witnessed higher demand for offices sized between 50,000 and 100,000 square feet

Leasing of office space across six major cities may fall by 25-30 per cent this calendar year to 35-38 million square feet on subdued demand, according to Colliers India and FICCI. Property consultant Colliers India and industry body FICCI released a report 'Emerging Trends and Opportunities in Office Sector - 2023'. Gross office space leasing rose to 50.3 million square feet in 2022 across six cities from 32.9 million square feet in the previous year on better demand. These six cities are Delhi-NCR, Mumbai, Bengaluru, Hyderabad, Chennai and Pune. The report said that in an optimistic scenario, India's office sector is likely to see about 35-38 million square feet of gross leasing in 2023. The consultant expects that the economic headwinds would ease and not cause a significant dent to overall occupiers' confidence. It expects a significant increase in leasing in the latter half of this year with corporates likely to close leasing decisions that were put on hold temporarily. On

Proptech firm Square Yards, which recently entered into the business of helping investors in having fractional ownership of commercial properties, has raised Rs 112 crore from high net-worth individuals for the purchase of over 1 lakh square feet office space in Hyderabad. This is the first property being offered by the company to investors for fractional ownership, said Square Yards which is mainly in the property and loans brokerage business. PropsAMC, the asset management services and data intelligence arm of Square Yards, has raised Rs 112 crore for its first Grade A commercial project in Hyderabad, according to a statement issued on Sunday. The project is Square Yards' maiden venture into the fractional product category, with an average investment of Rs 40 lakh from a pool of over 250 investors. This over Rs 100 crore AUM (asset under management) milestone is a testament to the unbridled faith reposed by investors on our platform... " said Tanuj Shori, founder and CEO of Squar

Upgrad will be paying starting rentals of close to Rs 300 per square feet per month on carpet area basis

Warehousing, data centres will attract institutional investments in 'years to come', says JLL

According to industry reports, southern cities, especially Bengaluru, Chennai and Hyderabad, are emerging as leading hubs in office space leasing owing to robust demand from tech and flex players

Demand from domestic companies will, however, lend stability to the market

Experts cite global headwinds for the month-on-month dip

This is OneWeb's 15th launch till date and second since it resumed its campaign with a launch from India in Oct

Bengaluru leads in terms of space leased by such companies, says JLL report

Survey finds that 45% of companies are looking for new office spaces including conventional and flexible ones, 35% have adopted a multi-office approach by collaborating with co-working spaces

Office rent in Bengaluru rose 12.1 per cent year-on-year in July-September this year, the highest in the Asia Pacific region, according to Knight Frank. In its Asia-Pacific Prime Office Rental Index for Q3 2022, property consultant Knight Frank said that Bengaluru topped the list with 12.10 per cent y-o-y (year-on-year) growth in office rentals in Q3 (July-September) 2022. Mumbai was at the 3rd rank in the index, recording 7 per cent y-o-y growth in office rentals, followed by Delhi-NCR at 14th rank, which remained stable during the period. Jakarta was in the second position with a 10.90 per cent growth in office rent. Taipei stood at fourth rank with a 5.50 per cent increase in rent, followed by Singapore with a 5.3 per cent rise, Brisbane with a 3.9 per cent appreciation and Seoul with a 3.7 per cent rise. Sydney ranked 8th with a 3.40 per cent rent increase, while Perth was at 9th position with 2.4 per cent rental growth and Shanghai at 10th rank with 1.9 per cent ...

Signs up new leases for 335K sq ft space in Mumbai, Bengaluru, Pune and Noida

Oversupply, poor maintenance can, however, play spoilsport

These four cities are also the biggest office markets in India, holding 569 million sq ft, or 77% of the total Grade A office stock of 740 mn sq ft situated in the country's top seven cities

Newest facility spread across 23,000 sq ft and with 700 seats comes up at Whitefield

While tier-1 remains the key demand driver, there is considerable interest in tier-2 cities due to improved infra and the prevalence of hybrid working model

Benguluru, Delhi-NCR and Chennai led the space absorption, together accounting for 62% of total transaction activity in the first nine months of the Calendat year

Net leasing of office space jumped over 2-fold in January-September across top seven cities to 30.26 million square feet, but is unlikely to breach the pre-COVID level this year, according to JLL India. Net leasing stood at only 14.63 million square feet in the corresponding period of the last year across seven major cities, as the demand was adversely impacted because of the COVID-19 pandemic and lockdowns. With the opening up of the offices and the overall economy, the demand for workspace has bounced back. Nevertheless, the net office leasing is unlikely to cross the record absorption achieved in 2019 -- the pre-COVID year -- at 47.9 million square feet. Net absorption is calculated as the new floor space occupied less the floor space vacated. Floor space that is pre-committed is not considered to be absorbed until it is physically occupied. As per the JLL India data, the net leasing of office space in Bengaluru rose 45 per cent in January-September to 7.84 million square feet

Co-working major WeWork India on Thursday said it has taken on lease 3.62 lakh square feet office space in Bengaluru as part of its expansion plan amid rising demand for flexible workspace. In 2017, WeWork Global had partnered with Bengaluru-based Embassy Group to enter the Indian market. WeWork India currently has over 5 million square feet of portfolio across 40 locations in Delhi-NCR, Mumbai, Bengaluru, Pune and Hyderabad. In a statement, WeWork India said it has taken on lease 3.1 lakh square feet at 'Kalyani Roshni Tech Hub' and 52,000 square feet at 'Embassy One'. Set to open in December this year, Kalyani Roshni Tech Hub is located at Outer Ring Road and houses over 5,000 desks spread over eight floors. Embassy One building is strategically located between two key business districts on Bellary Road with a capacity of over 600 desks across two floors. WeWork India has entered into an operator model at Embassy One. On the other hand, Kalyani Roshni Tech Hub has been leased in