Real Estate - Nitin's View

For years, Bengaluru has been the undisputed capital of India's commercial real estate market. From technology giants and startups to Global Capability Centres (GCCs), the city has consistently driven office absorption across the country. However, the latest Knight Frank data reveals a notable shift: Bengaluru's office leasing declined by 26% year-on-year during January-September, falling from 22.5 million sq ft to 16.7 million sq ft.  At first glance, this may appear to be a sign of weakness. A deeper analysis, however, suggests something very different. The data points toward a market that is normalizing after an exceptionally strong period, while other cities are beginning to capture a larger share of India's expanding office demand.  India's Office Market Remains Resilient Despite varying performance across cities, India's overall office leasing market remained remarkably stable. Total office leasing across eight major cities stood at 66.7 million sq ft during t...