If the lift moves down with an acceleration greater than the acceleration due to gravity (G), a situation known as "overspeeding" or "overshooting," the occupants inside the lift will experience a feeling of weightlessness or reduced weight.
When the acceleration of the lift is greater than G, the net force acting on the occupants becomes less than their weight. This results in a perceived reduction in the gravitational force experienced by the occupants, leading to a feeling of weightlessness.
In terms of physical sensations, the occupants may feel as if they are floating or experiencing a loss of contact with the floor of the lift. Objects inside the lift may also appear to be weightless, as they are not subject to the usual downward force.
It's worth noting that this sensation of weightlessness is similar to what astronauts experience in space when they are in a state of freefall. However, in the case of the overspeeding lift, it is a temporary and potentially alarming situation that should be rectified as soon as possible to ensure the safety of the occupants.