NEW DELHI: Office space absorption in the country declined by 16% to 4.4 million sq ft in April-June quarter against the previous quarter due to lock-down in almost all major cities due to the second wave of Covid.
However, absorption of office space in Mumbai, Pune and Bengaluru increased by 149%, 43%, and 5%, respectively, from January-March quarter, when markets were getting unlocked from the previous lockdown, said a JLL report.
According to the report, declines in the office space absorptions in Chennai, Kolkata and Delhi NCR were more pronounced at 70%, 60%, and 43% to 0.1 million sq ft, 0.02 million sq ft, and 0.6 million sq ft respectively.
Hyderabad was the worst performer with hardly any office space leasing out.
