Hyderabad excels in new completions and net absorptions
Accounting for the highest net office space absorption in the last quarter of 2020, Hyderabad continued its great form even during the covid crisis. It accounted for 34% of the overall country's office space leasing.
According to JLL Research, Hyderabad contributed 2.83 million sq feet out of the 8.27 million sq feet by the top seven cities combined in Q4. Hyderabad has also been resilient in maintaining rental rates throughout 2020.
Hyderabad, along with Chennai and Bengaluru, has also played a significant role in total new completions in the country (12.78 million sq feet) in Q4 through a contribution of 71% by all the 3 cities combined. Landlords have become more flexible and hence the trajectory of tenants is expected to rise sufficiently in 2021.