NCR Office Space Net Leasing Falls 60% to 1.5M Sq Ft: JLL
NEW DELHI: The office market in Delhi-NCR experienced a downturn in the first quarter of the year, with net workspace leasing plummeting by 60%, reaching 1.5 million square feet, primarily due to a decline in new supply, according to JLL India. Data from real estate consultant JLL India indicates that gross leasing of office spaces in Delhi-NCR fell 28% from 4.2 million sq ft in the same period last year to 3 million sq ft this year. Net leasing dropped 60% from 3.7 million sq ft to 1.5 million sq ft. Gross leasing includes all lease transactions during the period,…