CRE Matrix & CREDAI Presents India Office Report Q2 CY'24

CRE Matrix and CREDAI present the India Office Report for Q2 CY'24, highlighting impressive growth in office leasing. H1 CY'24 saw 38 msf leased, nearly matching the record set in H1 CY'22, with demand up by 21% from H1 CY'23, driven by Bengaluru and MMR, which contributed 50% of the total. MMR hit a record high with 4.6 msf leased in Q2, while pan-India vacancy rates dropped to 16.8%, led by reductions in Delhi-NCR, MMR, and Pune. Rentals increased by 4.3%, with Bengaluru, Hyderabad, and Chennai leading the rise. IT/ITeS, BFSI, and co-working spaces dominated, accounting for 66% of demand. Download the full report for detailed insights.