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India's office market demonstrated a strong 24% rise in net leasing across eight major cities in the first half of 2025, reaching 27.8 million sq ft. This growth was driven by key markets like Mumbai, Pune, Delhi-NCR, and Chennai. While Bengaluru saw a 3% decline, the overall market remains robust, with a 14% increase in new supply. This trend highlights a strong economic outlook, as India's office sector continues to outperform global trends.
Net leasing of office spaces in India's eight major cities saw a 24% increase during the first half of this calendar year, as reported by real estate consultant Cushman & Wakefield. The total net absorption for the January-June period of 2025 reached 27.8 million sq ft, up from 22.5 million sq ft in the corresponding period of the preceding year. Advertisement
Despite this overall positive trend, there were varied performances across individual cities. Bengaluru, a traditionally dominant market, saw a 3% decline in net leasing, with its total falling to 6 million sq ft from 6.2 million sq ft. Kolkata also experienced a drop of 11%, while Ahmedabad saw a significant 94% decrease.
Conversely, several cities registered strong growth, contributing to the national surge. Net leasing in Mumbai rose by 30% to 5.5 million sq ft, and Pune's demand more than doubled to 4.3 million sq ft. Delhi-NCR saw a sharp increase to 5.2 million sq ft, and Chennai's net leasing rose to 3.1 million sq ft. The demand in Hyderabad remained stable at 2.8 million sq ft.
According to Anshul Jain, Chief Executive of India, SEA, and APAC Tenant Representation at Cushman & Wakefield, "India's office market continues to outperform global peers, underpinned by a solid economic outlook and long-term occupier confidence." The data also revealed that the new supply of office space rose 14% annually to 23.2 million sq ft during the same period.
Source- PTI
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