According to global property consultancy firms, a slowdown in US and Europe is strongly affecting the leasing space of mulitnationals in India. Due to slow return of employees to offices, over a dozen leasing withdrawal requests have been submitted in 6 weeks. Multinationals are like Amazon, DLF, Paytm, aren’t using their spaces in the hopes of new tenants or renting out already acquired spaces to other competitors. With a regular 30-35% IT employees in offices, return to work in the top three firms is just 20%.
