Commercial property leases worth Rs 6,800 cr likely to expire in 2021
New Delhi: Commercial property leases worth about Rs 6,800 crore in annual rents are likely to get over in the current year in the country.
Around two-thirds of all commercial leases which are getting over in 201 are less than 10,000 square feet. The other largish chunk is of leases of less than 1 lakh square feet which make up around 25 percent of the rentals, a report by Propstack said.
Around 1,802 leases getting over this year are in Mumbai. The Maximum City is followed by Bengaluru with 905 leases.
The total number of office leases in the top 8 cities stands at 4,862.
About 602 leases are likely to get over in 2021 in Pune and about 482 leases in Gurugram. These cities are followed by 317 leases in Chennai and 237 leases in IT city of Hyderabad. Another 259 leases are getting expired in Delhi and 217 leases in nearby Noida.