Workplace house absorption in Hyderabad up by 46 per cent in This fall: Report

In a major rebound, workplace house leasing in Hyderabad has gone up by 46 per cent within the fourth quarter ended March 31, 2024, at 2 million sq ft as in opposition to 1.4 million sq ft in the identical quarter final yr. That is over one-seventh of the workplace house absorption (14.4 m sq ft) in 9 main cities within the nation within the quarter. 

The expertise sector continues to drive progress in workplace house leasing with a share of 70 per cent.

Key transactions

Some key transactions included HCL leasing 3.30 lakh sq ft, adopted by Desk House which leased 1.96 lakh sq ft and Altsom at 1.40 lakh sq ft, in keeping with actual property consulting agency CBRE South Asia.

“Hyderabad workplace house take-up was pushed by small-sized (lower than 50,000 sq. ft.) offers throughout the quarter. Absorption within the IT section accounted for 70 per cent of the full house absorbed,” it stated.

Bengaluru led workplace leasing exercise, adopted by Delhi NCR and Hyderabad. These three cities accounted for 65 per cent of the full office-space absorption registered throughout the quarter.