Blitz Bureau
NEW DELHI: India’s office real estate market has begun 2026 on a strong note, with leasing activity touching 18.3 million square feet in the January–March quarter, a report said on March 26. This marks a 15 per cent increase compared to the same period last year, according to a report by Colliers India.
The growth was largely driven by major cities like Bengaluru and Hyderabad, which together accounted for nearly half of the total leasing activity at 8.7 million square feet. Other key markets including Mumbai, Pune, Delhi NCR and Chennai also saw healthy demand, each recording leasing between 2 and 3 million square feet.
Notably, Hyderabad and Pune witnessed more than double the demand compared to a year ago.
The report highlights that India continues to remain a preferred destination for office space in the Asia-Pacific region, supported by the expansion of Global Capability Centers (GCCs) and strong occupier demand across sectors.
GCCs alone contributed nearly half of the total leasing during the quarter, indicating sustained confidence among global firms in India’s office market.
On the supply side, new office space additions remained robust at 11.8 million square feet in the first quarter, up 19 per cent year-on-year. Bengaluru led the supply pipeline, contributing nearly 47 per cent of the total new completions, followed by Delhi NCR with a 17 per cent share. Chennai and Mumbai also saw significant additions of about 1.5 million square feet each. Conventional office leasing continued to dominate, accounting for 14.4 million square feet of the total demand.
