Bengaluru workplace hire spikes 26%, NCR falls lowest at 10%: Examine

NEW DELHI: Bengaluru recorded a 26 per cent rise in common workplace leases over the previous 5 years, reaching Rs 93 per sq. foot per thirty days in 2024. The spike comes because of rising demand for workplace house throughout India’s main property markets, based on actual property consultancy Anarock.
The consultancy company launched rental tendencies information throughout seven key cities: Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, and Pune. Bengaluru, amongst all of the cities studied, noticed the very best progress, with rents rising from Rs 74 per sq ft in 2019 to Rs 93 per sq ft in 2024.
Workplace rental tendencies throughout cities
The south Indian metropolis of Hyderabad adopted intently, with a 25 per cent improve in workplace rents to Rs 67 per sq ft from Rs 56 per sq ft in 2019. Chennai, additionally following an upward momentum, noticed a 20 per cent leap, reaching Rs 75 per sq ft from Rs 60 per sq ft.
In Mumbai, leases within the metropolitan area (MMR) rose by 13 per cent, climbing to Rs 140 per sq ft from Rs 124 per sq ft in 2019. Pune noticed a 19 per cent improve to Rs 81 per sq ft, whereas Kolkata’s workplace hire grew to Rs 62 per sq ft from Rs 52 per sq ft over the corresponding interval.
Delhi-NCR recorded the slowest progress among the many seven cities, with a ten per cent rise, taking the typical workplace hire to Rs 86 per sq ft from Rs 78 per sq ft in 2019.
Peush Jain, managing director of Industrial Leasing and Advisory at Anarock, attributed the robust rental progress in Bengaluru, Hyderabad, and Chennai to their rising IT infrastructure and expert workforce.
“As India continues to be one of many quickest rising economies, world corporates will look to ascertain their GCCs for enlargement. The beginning-up ecosystem has once more gained momentum and so they too will likely be main drivers of workplace demand alongside the BFSI sector,” he stated.
Mumbai primarily based Anarock expanded into the workplace leasing enterprise in 2024, including to its current companies in housing brokerage, capital market transactions, and leasing of retail, industrial, and warehousing areas.