Delhi, Mumbai, B’luru Office Rents To Stay Stable For 12 Months

Mumbai: The prime office rents in Delhi-NCR, Mumbai and Bengaluru remained stable in the July-September period, while Mumbai and Bengaluru saw year-over-year (YoY) increases of 5 per cent and 3 per cent, respectively, driven by strong occupier demand and limited new supply, according to a report on Saturday.

Prime office rentals in Delhi-NCR, Mumbai, and Bengaluru remained robust year-on-year, and rental rates are expected to stay stable over the next 12 months. Delhi-NCR currently is the sixth most expensive office space rental market across the Asia-Pacific region, according to a Knight Frank report. In Q2 and Q3 2024, combined transaction volumes across these three markets hit consecutive all-time highs. This growth is largely attributed to global capability centres (GCCs) and India-focused businesses.

The surge reflects optimism about India’s economic future, its rich talent pool, business-friendly regulations, and the ongoing growth of its vast consumer markets., said the report.