Additionally, Hyderabad’s state of-the-art infrastructure, including well-connected transport networks and growing business districts, enhances its appeal to both national and international companies, it added.
The average deal size for commercial market across leading eight markets in the country has increased by 10.24% from 37,976 sq ft in 2023 to 41,867 sq ft in 2024.
The surge in average deal size is a reflection for the growing demand for higher quality office spaces with a greater occupier commitment on lease tenure and investment in the workspace during the year 2024, the report said, adding that the highest growth in percentage terms was observed in Mumbai’s commercial market where the average deal size has expanded by 54.59% YoY in 2024.
According to the report, Hyderabad is followed by Bengaluru in terms of office space absorption, The capital city of Karnataka recorded 55,726 sq ft of office space last year. Mumbai stood third with 40,150 sq ft; Delhi NCR with 40,025 sq ft; Pune with 36,953 sq ft; Chennai with 34,045 sq ft; Ahmedabad with 30,731 sq ft and Kolkata with 14,542 sq ft.
