New Delhi, April 17 (IANS) Overall leasing activity of office spaces across major cities in the country rose by 3 per cent on a quarter-on-quarter basis during January-March 2019, a CBRE report said on Wednesday.
Office space take-up was dominated by small and medium-sized transactions, those involving less than 50,000 square feet, it said.
"The leasing activity touched 12.8 million sq. ft. during Q1 2019, increasing marginally by about 3 per cent on a quarterly basis. Hyderabad overtook Bangalore for the first time to be the dominant office market driving quarterly space take-up, as it witnessed the culmination of several pre-commitments," said the report titled "India Office, Q1 2019".
Hyderabad, Bengaluru, Mumbai and Delhi-NCR accounted for more than 75 per cent of the leasing activity, it said, adding that quarterly space take-up increased across Ahmedabad, Hyderabad, Chennai, Mumbai and Kolkata.
Medium-sized transactions (10,000-50,000 sq ft) accounted for about 48 per cent of the transaction activity, while small-sized transactions (below 10,000 sq ft) had a 33 per cent share.
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz