Summary:

In the first half of 2024, Knight Frank India reported that 55% of office demand was for spaces under 100,000 square feet, while 45% was for larger buildings. Transactions for offices over 100,000 square feet totaled 15.69 million square feet. Mid-sized offices (50,000-100,000 sq ft) represented 21% of rentals, while smaller spaces (less than 50,000 sq ft) accounted for 34%.

Bengaluru leads in demand for large offices as companies establish Global Capability Centres (GCCs). Shishir Baijal, Chairman of Knight Frank India, identified GCC growth as a key driver. Flexible workspaces are crucial for IT services and startups. Sumadhura Group Chairman Madhusudhan G noted increasing leasing activity and strong demand from both local and international clients, showcasing the sector's resilience.

Source: IBEF 

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