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Nirmal Bang Report
The strong pre-covid-19 growth in demand has been replaced by a more cautious stance by lessees with planned additional space offtake being delayed or cancelled.
This has consequently led to lowered expectations of space offtake and modest rental increase, if any.
Despite the rising concerns, we find comfort in extremely low cancellations of rented space and continued payment of rent on time by lessees in the past six months.
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