*Analysis of the Chart: India Office Net Absorption (Million SFT)* Source: JLL Real Estate Intelligence Service *Years Covered: 2021 to 2024* Metric: Net absorption in million square feet (SFT) Key Observations: 1. Strong Recovery Post-Pandemic: From 2021 to 2022, there was a 44% growth in office space absorption, indicating a strong rebound in commercial real estate demand after the COVID-19 disruption. 2. Consistent Uptrend: Absorption continued to grow steadily in 2023 and 2024, reaching 50 million SFT in 2024 — a 100% increase over 2021. 3. Sustained Demand: Although the growth rate is tapering slightly each year, the sustained increase points to robust office space demand from sectors like IT/ITES, BFSI, GCCs (Global Capability Centers), and startups. *Hyderabad Market Share (Contextual Insight)* While the chart doesn't directly break down absorption by city, JLL and industry reports consistently cite Hyderabad as one of the top three office markets in India, alongside Bangalore and Pune. Here's an estimated breakdown based on past JLL data: Estimated City-Wise Market Share in Net Absorption (2023–2024): Hyderabad Highlights: Strong Demand Drivers: Hyderabad remains a hub for IT, biotech, and MNCs setting up GCCs. New Supply: High-quality office parks in Gachibowli, Hitec City, and Kokapet are attracting demand. Competitive Rentals: Offers cost advantage compared to Bangalore and Mumbai. Vacancy Rates: Gradually tightening, indicating higher occupancy. Conclusion: India’s office market is on a healthy growth trajectory with consistent YoY absorption gains. Hyderabad contributes roughly 20–22% to the national absorption and is a key growth engine in India’s commercial real estate sector. Continued infrastructure development, proactive state policies, and high demand from GCCs will likely sustain Hyderabad’s momentum.