Mumbai, June 4 (IANS). Indian firms have registered a strong share in the commercial real estate market. According to a report on Wednesday, domestic occupiers have increased from 2022 to 46 percent in Gross Leasing activity. Whereas during 2017-2019, the same stake of domestic authorities was 35 percent.
The JLL report stated that the leasing volume of domestic firms reached a historic level in 2024 with 31.9 million sq ft and the strong pace continued in the first quarter of 2025, with 8.8 million sq ft already on lease.
The BFSI sector has recorded the highest increase in the average transaction size. BFSI firms have increased their place needs more than doubled, with an average deal size from 10,500-11,500 sq ft in 2017-2019 to 24,000-25,000 sq ft in the first quarter of 2022- 2025. This reflects 125–130 percent great growth.
Delhi-NCR is at the forefront of domestic leasing activity, while Mumbai has shown the fastest growth, with the city’s stake by nearly 62 percent.
“This development reflects the changing corporate strategies focused on efficiency and consolidation with the strong economy of JLL and Chief of India, Dr. Samantak Das, the Chief Economist and REIS, India, Dr. Samantak Das said. While Global Ocucers are the mainstays. At the same time, the growing importance of Indian Occupiars will continue to support the country in the office market.”
He said that both of them have the ability to carry India’s leasing volume to more than 100 million square feet over the next 3-4 calendar years.
After BFSI, the average deal in the manufacturing sector has increased from 7,000–8,000 square feet to 15,000–16,000 square feet, which is an increase of 100–120 percent. This reflects India’s strong and growing focus on domestic production capabilities.
Rahul Arora, Senior Managing Director (Karnataka, Kerala) of JLL, India’s Head Office Leasing and Retail Service, said, “India’s domestic corporate real estate landscape development, shows different priorities of Okupeirs in major metros. Delhi NCR and Mumbai are clearly raised, but the demands of demands are different.”
-IANS
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