[INDIA REAL ESTATE NEWS] Good morning everyone I am Rumi Dhar from Kama Group.|
Here I have important INDIA real estate news to share with you which is as mention under.
NEW DELHI: In 2020, the net absorption of office spaces in top seven cities dipped by 44%
when compared to 2019, according to JLL India. In 2019 the net absorption crossed 46 million
sq ft while in 2020 it has reached about 25.82 million sq ft.
In the Jan-March 2020 quarter the net absorption was 8.80 million sq ft which saw a drastic
drop in the following two quarters: 3.32 million sq ft in Apr-Jun 2020 and 5.43 millon sq ft in
Jul-Sep 2020 quarter. In Oct-Dec quarter, however, the absorption improved to 8.27 million
sq ft, according to JLL research.
Hyderabad led the pack with the highest net absorption in Q4 2020. While the southern
markets of Bengaluru and Hyderabad accounted for more than 50% of the net absorption
in Q4 2020, maximum increase in net absorption (when compared to Q3 2020) was witnessed
in Mumbai, Delhi NCR and Chennai.
The increase in net absorption was driven by pre-commitments in new completions during
the quarter. 56% new completions were already pre-committed.
Read more at: https://realty.economictimes.indiatimes.com/news/commercial/net-absorption-of-office-spaces-dips-44-in-2020-jll-india/79993956
Have a nice day