Something has happened in the 6 big cities called the economic lifeline of the country, which is not good for the economy. The economy of these cities gets oxygen from the offices with great workstations here. But, now the number of people asking for new workstations has decreased drastically. According to the report of real estate consultant Cushman & Wakefield, there has been an overall decline of six percent in 2024. Obviously, the offices of new companies or new offices of companies are opening here a little less.
Decrease in 6 big cities, all-time high in two
Out of the eight cities on the basis of which Cushman & Wakefield has released the report, the demand for new office workspace has decreased in six cities. These cities are Delhi-NCR, pune, Chennai, hyderabad, ahmedabad and Kolkata. At the same time, it has jumped a lot in mumbai and the demand has also increased in Bengaluru. While the demand for office space in mumbai was 20.5 lakh sq ft in 2023, it has quadrupled in 2024. That is, 83.2 lakh sq ft of office workspace was dealt.
In Bengaluru, the deal for office workspace of 133.1 lakh sq ft in 2023 increased to 133.4 lakh sq ft in 2024. On the other hand, delhi NCR saw a five percent decline in a year. It was 46.8 lakh sq ft as against 49.2 lakh sq ft in 2023. Similarly, in Chennai, only 21.7 lakh sq ft of office space was dealt as against 53.3 lakh sq ft. Thus, there is a 59 percent decline here.
27 percent decrease in demand for office workspace in Pune
The demand for office workspace in pune has decreased by 27 percent in a year. This is only 42.2 lakh sq ft in 2024 compared to 57.4 lakh sq ft in 2023. At the same time, the need for office workspace in hyderabad has decreased by 21 percent from 128.6 lakh sq ft to only 102.1 lakh sq ft.
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