The rent for office spaces in India's seven major cities rose 4-8% annually in 2024 while the eight big overseas markets saw a mixed trend in rental growth, according to Vestian.
Among seven Indian cities, Mumbai saw an increase of 6.7% in monthly average office rent to $1.6 per square feet.
Delhi saw an 8.2% rise in monthly rentals to $0.9 per square feet, while Bengaluru witnessed a 4.7% rise to $1.1 per square feet.
The consultant said prime commercial hubs like Mumbai's BKC and Delhi's central business district (Connaught Place and adjoining area) command high rentals, with average rent reaching $3-4 per sq ft a month.