Delhi NCR’s office market saw a subdued start to the year as net leasing fell 60% in January to March to about 1.5 million sq ft, according to JLL. The decline was mainly driven by reduced new supply. Still, JLL says the long-term outlook remains solid, with leasing expected to pick up in the next quarters.
India’s office leasing momentum held firm in January–March despite global headwinds, with JLL India reporting gross leasing up 10% and net leasing up 7% across seven major cities. The uptick suggests tenants are still expanding or renewing space, keeping demand relatively strong even as broader economic uncertainty persists.
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