Bengaluru leads office market transaction in Q3 2024; Witnesses second highest residential sales of 14,604 units in the quarter: Knight Frank India
Bengaluru, October 04, 2024: Knight Frank India, in their latest report – India Real Estate: Residential and Office Q3 2024 (July - September 2024) cited that Bengaluru recorded office space transactions of 5.3 mn sq ft in Q3 2024. Bengaluru led the growth of India's commercial market, accounting for 28% of the 19 mn sq ft of transactions across the top eight cities. The city saw a remarkable YoY growth of 158%, mainly driven by the establishment of Global Capability Centers (GCCs) by corporations aiming to expand their long-term operations in the region.
Office completions in Q3 2024 were recorded at 2.5mn sq ft. The city witnessed the second highest rental value appreciation of 7% YoY, taking the aggregated rent to INR 90.3 per sq ft/ month.
Office Transactions
Completions...