Hyderabad has emerged as the top city in India for average office space deal size in 2024, recording 70,535 square feet per transaction. This marks a 10.13% increase from 2023, when the average deal size stood at 64,042 square feet, according to a recent report by Knight Frank India. The average deal size is the average amount of office space rented or bought in one transaction during a specific time.
The city’s sustained demand for office spaces reflects its growing reputation as a leading business hub. A combination of factors, including its high quality of life, modern amenities, and comparatively affordable living costs, has made Hyderabad an attractive destination for corporations. Its well-developed infrastructure, encompassing extensive transport networks and burgeoning business districts, further enhances its appeal to national and international companies, the report highlighted.
Bengaluru secured the second spot in the rankings, with an average deal size of 55,726 square feet, followed by Mumbai at 40,150 square feet, and the National Capital Region (NCR) at 40,025 square feet. Other cities on the list included Pune (36,953 square feet), Chennai (34,045 square feet), Ahmedabad (30,731 square feet), and Kolkata (14,542 square feet).
Across these eight commercial markets in the country, the average deal size for office spaces increased by 10.24% year-on-year, rising from 37,976 square feet in 2023 to 41,867 square feet in 2024.
Published – January 11, 2025 07:24 pm IST