Office space leasing declines by 2% in Q1FY25

Leasing activity in Q2 2024 reached 17.2 million square feet, reflecting a slight decrease of 2% compared to the previous quarter. However, new office space supply surged by 64% quarter-on-quarter to 10.8 million square feet. Bengaluru maintained its position as the top contributor to national leasing activity in the first half of 2024, accounting for 28% of the market. Mumbai and Hyderabad followed closely behind with shares of 18% and 16%, respectively