<p>Bengaluru: Bengaluru, Hyderabad and Mumbai contributed to nearly 64% of all the gross office leasing activity in 2024, which touched a new high of 75.2 million square feet (msf), a 21% year-on-year growth, as per a report by property consulting firm Savills India, released on Monday.</p><p>Bengaluru continued to dominate leasing activity and topped the charts at 22.9 msf, registering a 47% YoY increase. Gross leasing activity reached a new record in Hyderabad (52% YoY), Mumbai (21% YoY), and Pune (20% YoY rise), as well.</p><p>Tech, banking, financial services, and insurance (BFSI), and flexible workspaces sectors emerged as the top three contributors to leasing activity in 2024, accounting for 32.9%, 17.6%, and 16.6% of the total share, respectively.</p>.Bengaluru on top in fake news cases in Karnataka.<p>Despite this surge in demand, new supply additions declined by 14% YoY, totaling 46.2 msf in 2024. Nearly 75% of this new supply came from Bengaluru, Hyderabad, and Pune.</p><p>Bengaluru saw a 21% YoY reduction from 2023, adding 13.6 msf of new supply. This was the largest supply added this year, followed by 12.7 msf by Hyderabad (18% decline) and 8.6 msf by Pune (59% <br>increase).</p><p>“For the second consecutive year, India’s gross absorption has reached an all-time high, reflecting business robustness and confidence driven by strong economic growth. The year has once again surpassed estimates, indicating a continued recovery powered on the back of tech, BFSI, and flexible occupiers among others,” said Arvind Nandan, Managing Director, Research and Consulting, Savills India. </p>.<p>“This growth fosters a positive outlook for the sector as we approach the coming year, driven by the continued expansion of key industries,” said Naveen Nandwani, Managing Director, Commercial Advisory and Transactions, Savills India.</p><p>The top six cities include Bengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai and Pune.</p>
<p>Bengaluru: Bengaluru, Hyderabad and Mumbai contributed to nearly 64% of all the gross office leasing activity in 2024, which touched a new high of 75.2 million square feet (msf), a 21% year-on-year growth, as per a report by property consulting firm Savills India, released on Monday.</p><p>Bengaluru continued to dominate leasing activity and topped the charts at 22.9 msf, registering a 47% YoY increase. Gross leasing activity reached a new record in Hyderabad (52% YoY), Mumbai (21% YoY), and Pune (20% YoY rise), as well.</p><p>Tech, banking, financial services, and insurance (BFSI), and flexible workspaces sectors emerged as the top three contributors to leasing activity in 2024, accounting for 32.9%, 17.6%, and 16.6% of the total share, respectively.</p>.Bengaluru on top in fake news cases in Karnataka.<p>Despite this surge in demand, new supply additions declined by 14% YoY, totaling 46.2 msf in 2024. Nearly 75% of this new supply came from Bengaluru, Hyderabad, and Pune.</p><p>Bengaluru saw a 21% YoY reduction from 2023, adding 13.6 msf of new supply. This was the largest supply added this year, followed by 12.7 msf by Hyderabad (18% decline) and 8.6 msf by Pune (59% <br>increase).</p><p>“For the second consecutive year, India’s gross absorption has reached an all-time high, reflecting business robustness and confidence driven by strong economic growth. The year has once again surpassed estimates, indicating a continued recovery powered on the back of tech, BFSI, and flexible occupiers among others,” said Arvind Nandan, Managing Director, Research and Consulting, Savills India. </p>.<p>“This growth fosters a positive outlook for the sector as we approach the coming year, driven by the continued expansion of key industries,” said Naveen Nandwani, Managing Director, Commercial Advisory and Transactions, Savills India.</p><p>The top six cities include Bengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai and Pune.</p>