New Delhi, June 16 -- Domestic companies are taking more space in office leasing. They leased a record 31.9 million square feet (msf) area in 2024. The traction continued in the first quarter of 2025 (Q1CY25) with 8.8 msf already leased, JLL India said in a recent report. This has translated into better absorption of available Grade-A office units and higher occupancies.

On average, since 2022, domestic occupiers account for a 46% share of gross leasing versus 35% pre-pandemic (2017-2019), as per JLL. The property consultant added that BFSI firms have more than doubled their space requirements, with average deal sizes jumping from 10,500-11,500 sq. ft in 2017-2019 to 24,000-25,000 sq. ft from 2022 to Q1CY25, representing a staggering 125...