[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.
Hyderabad secured the second spot after Bengaluru in office space absorption in 2020,
overtaking the National Capital Region (NCR) as firms such as Google, IBM, Wells Fargo,
Wipro and Smartworks took up more space on lease.
Hyderabad registered leasing of 5.4 million sq ft of office space in 2020, according to a report
by property consultant Savills India, second only to Bengaluru’s 11.4 million sq ft.
“Hyderabad took over Delhi-NCR while the latter stood at the third place with approximately
4.4 mn sft absorption in 2020. Like the previous year, the top three cities of Bengaluru,
Hyderabad and Delhi-NCR constitute around 66% of the total leasing activity in 2020,” said
In 2019, Hyderabad had come close to 10 million sq ft office leasing for the first time.
Savills India projected a growth of 25-30% in office space absorption in Hyderabad in 2021,
primarily driven by the IT sector. The report said office space absorption across six major
markets of Bengaluru, Chennai, Hyderabad, Mumbai, NCR and Pune stood at 31.9 million
square feet in 2020. “While absorption fell by 43% year-on-year (on account of Covid-19
pandemic), it is important to note that the year 2019 saw a record high of leasing at about
55.7 mn sft in the last decade,” it said.
Read more at:
Have a nice day