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Net office leasing may remain flat in Delhi, Mumbai, Bengaluru, 4 other cities in 2021

Net office leasing may remain flat in Delhi, Mumbai, Bengaluru, 4 other cities in 2021

Rahul Arora, head of office leasing advisory, JLL India, said the year 2021 started on a strong note with net absorption of 5.5 million sq ft of office space across seven cities during January-March quarter

Net office leasing across seven major cities is likely to remain flat or may grow slightly from 25.6 million square feet achieved in 2020, as corporates have not shelved their expansion plan amid the second wave of the Covid-19, according to a senior JLL India official.

In an interview with PTI, Rahul Arora, head of office leasing advisory, JLL India, said the year 2021 started on a strong note with net absorption of 5.5 million sq ft of office space across seven cities -Delhi-NCR, Mumbai, Bengaluru, Chennai, Hyderabad, Pune and Kolkata -during January-March quarter.

However, he said, the leasing momentum was affected in the second quarter of the current calendar year due to the second Covid-19 wave. On the net leasing outlook for 2021, Arora said: "We expect the absorption to remain similar to 2020 or perhaps better in case we do not face another lockdown in H2 of the year".

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