365Telugu.com online news,Hyderabad,February 27, 2025: Hyderabad’s office leasing market witnessed exceptional growth in 2024, with gross absorption reaching 13.1 million sq. ft., securing a 17% share among India’s top six cities, according to Savills India, a leading global real estate advisory firm.
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The IT-BPM sector led the market with a 50% share, followed by Healthcare and Pharma (16%), Flexible Workspaces (14%), and BFSI (7%). Large-scale deals (100,000 sq. ft. or more) accounted for 53% of total leasing, reflecting a 46% year-on-year growth.
Key Market Insights
Leasing Activity & Market Hotspots
- The SBD I micro-market dominated, contributing 65% of Hyderabad’s total leasing activity.
- Raidurg, Hi-Tech City, and Madhapur emerged as top leasing destinations, while Nanakramguda (SBD II) saw strong demand due to new supply additions.
- The IT-BPM sector’s leasing volume doubled compared to the previous year.
- Healthcare and Pharma experienced robust expansion, with average deal sizes growing by 58%.
- Flexible Workspaces absorbed 1.8 million sq. ft., while BFSI accounted for 1.1 million sq. ft.
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Grade-A Office Space Demand & Supply
- Prime office spaces in SBD I continued to witness high demand, especially in non-SEZ projects, which comprised 83% of new developments.
- SBD II accounted for 73% of newly completed projects, reflecting strong developer confidence.
Leasing & Vacancy Trends
- Large-scale deals dominated, while mid-sized transactions also played a crucial role in overall leasing growth.
- Hyderabad’s vacancy rate remained stable at 22%, with premium buildings in SBD I maintaining a vacancy rate below 10%, underscoring the demand for high-quality office spaces.
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Rental Growth
- Hyderabad recorded a 24% annual increase in average rentals, with select developments in SBD I seeing a 26% rise.
- City-wide rental growth ranged between 19% and 22%, driven by rising demand for premium office spaces.
Market Outlook for 2025
Commenting on Hyderabad’s office market, Sarita Hunt, Managing Director, Bengaluru & Hyderabad, Savills India, stated:”Hyderabad’s office leasing market has showcased remarkable resilience, securing the second position in India with a gross absorption of 13 million sq. ft. in 2024.
The city’s micro-markets, particularly SBD I, continue to attract occupiers due to its world-class infrastructure and abundant supply of Grade-A office spaces. While IT-BPM remains dominant, the growth in Healthcare, BFSI, and Pharma sectors highlights Hyderabad’s expanding commercial footprint.
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Looking ahead, Hyderabad is poised for sustained momentum, with flexible workspaces and Global Capability Centers (GCCs) driving future demand. With an estimated 12 million sq. ft. of leasing activity and 15 million sq. ft. of new supply in 2025, the city is well-positioned to strengthen its reputation as a premier business hub in India.”