CRE Matrix & CREDAI Presents India Office Report Q3 CY'24

CRE Matrix, in collaboration with CREDAI National, presents the India Office Report Q3 CY'24, highlighting record-breaking trends in office real estate. With 58 msf of demand in the first three quarters—surpassing the full-year demand of CY 2018—CY'24 is poised to set a new benchmark with an expected 80 msf of annual demand, driven by GCCs, Co-working spaces, and IT/ITeS sectors. Market rents have surged past ₹100 in Bengaluru and NCR, pushing the pan-India average to ₹110, while vacancy rates dropped to a 14-quarter low of 16.1%, led by Bengaluru, MMR, and Hyderabad. Notably, co-working spaces claimed a record 22% demand share, and the demand-to-supply ratio hit an all-time high of 1.6X. Download the report for detailed insights!