The sector recorded an all-time high leasing in 2023, taking 7.1 million sq ft across eight cities, which is expected to dip to 6-6.5 million sq ft in 2024, according to CBRE. Mumbai’s 10% worth growth prior to now 12 months pushed primarily by affluent homebuyers on the lookout for a life-style improve within the backdrop of a powerful economic setting which continues to gain momentum. This whole facility is expected to house greater than three,000 employees spanning across totally different verticals of operations and technology. Bank of America has entered a long-term lease of 9 years and shall be paying a complete rental of over Rs one hundred twenty crore by way of this whole time period. The leasing performance in the March quarter is trailing only to the levels of 17.3 million sq ft witnessed within the first quarter of 2020.
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