India, Feb. 27 -- A surge in demand for grade-A office spaces has led to the completion of 515 lakh sq ft of new office space supply across the top seven cities in 2024, according to a report by Vestian.

"Construction activities increased by 7% compared to the previous year. Among the top seven cities, the maximum fresh supply was seen in Hyderabad (145 lakh sq ft) followed by Bengaluru (140 lakh sq ft)," the report added.

In 2024, the absorption reached an all-time high of 707 lakh square feet, reflecting a 16% annual increase. Absorption in Kolkata and NCR saw annual declines of 36% and 14%, respectively, it noted.

Interestingly, Kolkata witnessed no new completions during 2024 as compared to over 10 lakh sq ft of supply in the previ...