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Average office rentals remained stable during April-June at ₹95 per square feet across six major cities as new supply rose 32%, while demand grew by a modest 2 %, according to <keyword id="3166898" type="General" weightage="20" keywordseo="colliers-india" source="Orion">Colliers India</keyword>. Real estate consultant Colliers India released its <keyword id="17907085" type="General" weightage="20" keywordseo="quarterly-data-of-six-major-office-markets" source="Orion">quarterly data of six major office markets</keyword> -- Bengaluru, Delhi-NCR, Mumbai, Chennai, Hyderabad and Pune -- on Wednesday. Gross leasing of office space rose 2 % to 14.6 million square feet across top six cities during April-June, from 14.3 million square feet in the year-ago period, driven by technology, engineering and manufacturing sectors. Chennai saw a three-fold jump in office demand, beating Delhi-NCR and Mumbai in leasing activities. New supply of office space rose 32 % to 12.4 million square feet across these six cities from 9.4 million square feet. Weighted average rental remained flat at ₹ 95 per square feet a month, across six cities. Peush Jain, managing director-office services, India, Colliers, said, "While the demand improved during the quarter, supply saw significant three-fold rise year-on-year, and was at par with demand. Hence rentals largely remained steady." As the demand improves further in coming quarters, Jain said there is a potential upside on rentals by the end of the year. As per the city-wise data, office space leasing in Bengaluru fell 22 % to 3.4 million square feet in April-June from 4.4 million square feet in the year-ago period. However, new supply more than doubled to 3.8 million square feet from 1.6 million square feet. Office rent in Bengaluru rose 1 % to ₹ 91.9 per square feet a month, from ₹ 90.6 in the year-ago period. In Chennai, the office leasing tripled to 3.3 million square feet from 1.1 million square feet. New supply jumped to 2.4 million square feet from 1 million square feet. Office rent in Chennai grew by 2 % to ₹ 75.1 per square feet from Rs 73.4 per square feet a month. Office leasing in Delhi-NCR was up 11 % to 3.1 million square feet from 2.8 million square feet. New supply rose 43 % to 2.1 million square feet from 1.4 million square feet. Monthly rent in Delhi-NCR appreciated by 2 % to ₹ 94.2 per square feet from ₹ 92.4 per square feet. In Hyderabad, the office demand fell 22 % to 1.5 million square feet from 1.9 million square feet, while new supply fell 19 % to 3 million square feet from 3.8 million square feet. Monthly Office rent remained stable at ₹ 73.7 per square feet from ₹ 73.6 per square feet. The gross office space leasing in Mumbai was down 41 % to 1.6 million square feet from 2.8 million square feet. New supply plunged 79 % to 0.2 million square feet from 1 million square feet. Office rent remained stable at ₹ 140.2 per square feet from ₹ 139.9 a square feet. In Pune, the leasing activities grew 28 % to 1.7 million square feet during April-June this year from 1.3 million square feet in the year-ago period. New supply increased 52 % to 0.9 million square feet in the second quarter of this calendar year from 0.6 million square feet in the corresponding period of the previous year. The average monthly office rent increased 1 % to ₹ 76.7 per square feet in April-June from ₹ 75.6 per square feet in the year-ago period. According to Colliers, the share of space leased by coworking operators increased to 17 % from 11 % during the period under review. Bengaluru-based managed office player Urban Vault co-founder Amal Mishra said, "corporates of all sizes have been taking office space in coworking centres and they are looking to increase the share of flex space in their overall real estate portfolio." Flexibility to scale up and scale down business, saving of capital expenditure and avoiding hassles to manage real estate are major considerations for corporates while choosing coworking space, Mishra noted. Gross absorption/leasing of office space does not include lease renewals, pre-commitments and deals where only a letter of intent has been signed, Colliers said.

Flat demand keeps office rent stable in Apr-Jun even as new supply rises  32% across top 6 cities: Colliers

<ul class="summary-list"><li>Kavya Dangda, 34, is an intellectual-property lawyer in Bengaluru, India.</li><li>She says she has the freedom to travel because she has no liabilities, such as a house or a partner.</li></ul>This as-told-to essay is based on a conversation with Kavya Dangda, a 34-year-old intellectual-property lawyer in Bengaluru, India. The following has been edited for length and clarity.I'm an intellectual-property lawyer, and I live in Bengaluru, India. <a href="https://www.businessinsider.com/tech-winter-silicon-valley-bengaluru-india-so-far-dodged-2022-11">Bengaluru is known as the Silicon Valley of India</a>, and I work for a tech company there.I was excited to move to Bengaluru from Noida, India, in 2019 to start my first job after getting my Master of Laws, also called an LLM. It took me a month to find an apartment because it's difficult for single women to get <a href="https://www.nytimes.com/2023/01/18/world/asia/india-single-women-apartments.html" target="_blank" rel="noopener">housing in India</a>. Luckily, I was able to room with a colleague in her apartment until I was able to have my own place.I was happy to find a place that met my requirements and was within my budget.<h2>My parents want me to buy a house, but I'm at peace living in my rented apartment</h2>My apartment community has a good landlord. It's in a gated community in a residential area near my work. I spend about 20% of my income on rent, utilities, domestic help, and groceries.My parents tell me to <a href="https://www.businessinsider.com/ray-dalio-investment-housing-market-stocks-bridgewater-real-estate-mortgage-2023-6">invest in a house</a> — which I could with my current salary — but I feel that buying a home would tie me down. I love to travel, and I need flexibility in my life.If I bought a house right now, I'd have to spend 30% to 40% of my income on my mortgage. That's a big jump from what I spend on housing. If I had a partner who was also contributing financially, I'd feel more comfortable buying a house — but right now, I find that scary and limiting for my lifestyle.<h2>In India, work experience is more important than degrees</h2>I got my Bachelor of Laws, known as an LLB, from a public university in Delhi, India, which was very affordable. My parents helped me pay for that degree, so I didn't have to take out a loan. For my LLM, I got a full-ride, merit-based scholarship to a university in Singapore.I wanted to get international experience, so I was excited to be able to <a href="https://www.businessinsider.com/singapore-millennial-housing-prices-income-debt-dreams-2023-6">go to Singapore</a>. But, I got a lot of backlash for pursuing my LLM.In India, <a href="https://economictimes.indiatimes.com/jobs/hr-policies-trends/more-than-8-in-10-indians-say-skills-are-more-important-than-degrees-shows-linkedin-report/articleshow/100001813.cms" target="_blank" rel="noopener">work experience is more important</a> than degrees. When I began working as a lawyer with my LLB, I made a meager salary that was below the poverty level. I eventually got a significant raise by moving to a bigger law firm, but it still wasn't much.<h2>When I quit my job to pursue my LLM, I was told I was committing career suicide</h2>I lost two years of work experience while getting my LLM, but I knew I wanted to specialize as <a href="https://www.businessinsider.com/why-intellectual-property-is-profitable-2011-4">an intellectual-property lawyer</a>, so I ignored everyone. After getting my master's, I felt highly qualified and excited to get the job I wanted. Unfortunately, my starting salary was based on the salary I had at my last job with an LLB.In my interviews, employers asked me why I took a break from work and interrupted my job growth. Getting my LLM wasn't a good enough reason for them. But I worked hard. I knew I was highly qualified and highly capable. My salary has increased, and it's much higher than I would've earned with just an LLB, so I have no regrets.<h2>I'm able to save 20% of my salary and spend money on travel</h2>Since I have no debt, I'm able to save and invest 20% of my salary. I work for private companies, so it's important for me to build up my retirement fund. I work with a financial advisor and an accountant to help me invest in mutual funds.About 30% of my income goes into paying taxes. I use the remaining 30% of my money for going out with friends and traveling. Recently, I called my friend and asked her to go to Cambodia with me for the weekend. I bought tickets for the following Friday and flew to Cambodia to <a href="https://affiliate.insider.com?h=28f0a2c9d3f71a2f2ef5f4afbd2190f4d2feefddc3bcafe8c5f972c67497e008&amp;postID=648b22684228266b3d723b92&amp;site=bi&amp;u=https%3A%2F%2Fwww.nationalgeographic.com%2Ftravel%2Fworld-heritage%2Farticle%2Fangkor" target="_blank" rel="noopener">see Angkor Wat</a>.I have the freedom to travel because I have no liabilities such as a house, children, partner, or parents to support. I always stay in a four- or five-star hotel or resort, especially when traveling alone.<h2>I need a partner who will embrace my lifestyle and not chop off my wings</h2>It's not that I don't want to get married and have kids one day, but it's a want, not a need. I don't want to give up my freedom and my lifestyle to get married. I also don't want to have to quit my job to be a stay-at-home mom.There's a lot of pressure for someone my age to get married, but luckily, I have supportive parents who pushed me to be independent and live on my own terms.I work 10-hour days, but I love the work that I do. This is exactly the job I wanted when I went to law school, and I love being able to learn and grow in it. I also love that it affords me the lifestyle to travel and spread my wings.This story is part of a series called "<a href="https://www.businessinsider.com/category/millennial-world" target="_blank" rel="noopener noreferrer">Millennial World</a>," which seeks to examine the state of the generation around the globe.Correction: July 10, 2023 — An earlier version of this story misidentified the city where Kavya Dangda lives and works. It is Bengaluru, India.

I'm a millennial living in Bengaluru, the Silicon Valley of India. I have my dream job in tech and get to spend 30% of my salary on travel, but there's a lot of pressure to be married.

New Delhi, Feb 13 () American Express has tied up with Bengaluru-based Hype, a luxury mobility solutions provider, to enable its Platinum and Centurion cardmembers to hire luxury cars at a discounted price in Delhi-NCR and Goa, besides several big cities. American Express Centurion and Platinum Charge cardmembers can enjoy complete exclusive luxury mobility solutions from Hype across Delhi-NCR, Bengaluru, Chennai, Goa, Hyderabad and Mumbai, the global payment company said in a statement.At a special monthly credit, the cardholders can avail benefits across self-drive or chauffeur-driven categories, along with complimentary Platinum Tier membership of Hype. "The special exclusive long-term offer of Hype mobility solutions is yet another step in that direction which will certainly make luxury car rental more convenient and less expensive," said Manoj Adlakha, Senior VP and CEO, American Express Banking Corp India, said.Raghav Belavadi, Founder and CEO, Hype Luxury Mobility said the partnership fits exactly on the company's roadmap to grow globally and attract the right customer base with tailor-made luxury mobility solutions that Amex premium members can enjoy. American Express is a globally integrated payments company.With an aim to tap into the trillion-dollar global luxury market, Hype was started in 2017. NKD RUJ

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Flat demand keeps office rent stable in Apr-Jun even as new supply rises 32% across top 6 cities: Colliers

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I'm a millennial living in Bengaluru, the Silicon Valley of India. I have my dream job in tech and get to spend 30% of my salary on travel, but there's a lot of pressure to be married.

Ananya Vahal

American Express partners Hype to provide luxury cars on rent

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