Decline in leasing of office space in seven big cities of the country, know what is the reason

There has been a 26 per cent decline in leasing of office space in seven major cities of the country during April-June.

Leasing of office space in seven major cities of the country declined by 26 per cent during April-June and stood at 8.5 million sq ft. Real estate consulting company JLL India has said this.

Offices in seven major cities of the country (Office) lease the place (Leasing) But there was a 26 percent decline in the acquisition during April-June and this figure has been 85 lakh square feet. real estate (Real Estate) Consultancy company JLL India has said this. In January-March this year, a total of 115.5 lakh sq ft area was taken on lease. However, this figure is almost three times as against 29.8 lakh sq ft in the April-June quarter of last year. Corona virus in April-June quarter of 2021 (Covid-19) There was a significant drop in the demand for office due to the second wave of

JLL said there were delays in completion of construction at the office site during the quarter under review, which could be due to shortfall in leasing.

Which city fell how much?

According to company data, 41.2 lakh sq ft of office space was leased in Bengaluru in April-June 2022, up from 1.67 million sq ft in the previous quarter. During April-June last year, 1.78 lakh square feet of land was taken on lease here. 5.3 million sq ft of office space was taken on lease in Chennai, down from 1.21 million sq ft in the January-March quarter. In the same period a year ago, 1.1 lakh sq ft of space was taken on rent.

In Delhi-NCR, 13.2 lakh sq ft of space was taken on rent during April-June, as against 1.34 lakh sq ft in the previous quarter. In Hyderabad, 7.5 lakh sq ft of space was taken on rent in the April-June quarter, while 1.9 lakh sq ft of space was taken on rent in Kolkata. Mumbai and Pune also saw a decline in leasing of office space on a quarterly basis.

Apart from this, let us tell you that reforms like RERA and GST have brought transparency in the housing sector and after a gap of many years, there will be continuous growth in the domestic housing sector for the next five years and home loan companies can take advantage of this opportunity. are ready. PNB Housing Finance has said this in its annual report 2021-22. Addressing the shareholders, Hardayal Prasad, Managing Director and Chief Executive Officer, PNB Housing Finance, said in this report that India has shown resilience to the challenges posed by the global pandemic Corona virus and is one of the fastest growing countries in the world overcoming it. has become one of the leading economies.

read this also



(with language input)