Bengaluru leads the way with 28 pc of the total flex office deals
Flex Office Space Boom in India
The Indian commercial real estate market has seen a remarkable increase in flexible office space deals. From 2018 to the third quarter of 2024, there have been 912 transactions across eight major cities, as reported by Knight Frank India.
Bengaluru: The Top Performer
Bengaluru stands out as the leading city, contributing to 28% of the total deals with 257 transactions. It dominated the small-sized segment (under 40,000 sq ft) with 150 deals.
Other Major Cities
The National Capital Region (NCR) followed Bengaluru with 96 deals, adding to a total of 551 small-sized transactions across the cities. In the medium-sized segment (40,000 to 80,000 sq ft), Bengaluru again led with 60 deals, while Pune was second with 33 deals. Overall, 208 medium-sized deals were recorded.
Large-Sized Flex Office Spaces
For large-sized spaces (over 80,000 sq ft), Bengaluru maintained its lead with 47 deals, followed by Pune with 30 deals. This segment also saw 208 medium-sized deals across the cities.
Doubts Revealed
Bengaluru
Bengaluru is a big city in India, known for its technology companies and is often called the 'Silicon Valley of India'.
Flex Office Space
Flexible office space is a type of office that can be easily changed or adjusted to fit different needs, like having movable walls or shared desks.
Commercial Real Estate
Commercial real estate refers to buildings or land used for business purposes, like offices, shops, or factories.
National Capital Region
The National Capital Region (NCR) is an area around Delhi, the capital of India, which includes nearby cities like Gurgaon and Noida.
Pune
Pune is a city in India known for its educational institutions and growing IT industry.
Q3 2024
Q3 2024 means the third quarter of the year 2024, which includes the months of July, August, and September.
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