Chennai: The overall office market in India witnessed a net absorption decrease of 33 per cent in Q1 2021 quarter-on-quarter (Q-o-Q), with 5.53 million sq. ft leased during January to March 2021, according to a study.
On a year-on-year (Y-o-Y) basis, net absorption in Q1 2021 stands at 64 per cent of the levels witnessed in Q1 2020. Bengaluru, Hyderabad and Delhi NCR accounted for nearly 80 per cent of the net absorption during the quarter, said JLL Office Market Update – Q1 2021.
Moreover, Bengaluru and Delhi NCR were the two markets which witnessed an increase in net absorption when compared to Q4 2020.