Office Leasing

Despite headwinds such as information technology (IT) layoffs and global tariff tensions, office leasing is expected to grow 10 per cent year-on-year (Y-o-Y) from 49.95 msf in 2024

Office space leasing across India's top seven cities rose 6 per cent to 71.5 million square feet this year on better demand from domestic and foreign companies, according to Colliers. Real estate consultant Colliers India on Wednesday noted that the office demand is expected to remain robust next year, driven by growth in technology and BFSI (Banking, Financial Services, and Insurance) sectors. As per the data, the gross leasing of Grade A office spaces is estimated to have increased to 71.5 million square feet this year across seven major cities from 67.2 million square feet in the 2024 calendar year. The demand fell in Mumbai and Hyderabad, but increased in the other five cities -- Chennai, Bengaluru, Pune, Kolkata and Delhi-NCR. Gross absorption does not include lease renewals, pre-commitments and deals where only a letter of Intent has been signed. "India's office market continues to scale up and set new highs every passing year," said Arpit Mehrotra, Managing Director, Office

Leasing of retail space in shopping malls and high streets across India's top eight cities is estimated to rise 15 per cent to nearly 9 million sq ft this year on increased supply amid high demand from retailers, according to Cushman & Wakefield. The leasing of retail spaces stood at 7.8 million sq ft in 2024. Real estate consultant Cushman & Wakefield on Tuesday released the data of retail demand across eight cities -- Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Pune, Hyderabad, and Ahmedabad. The leasing of retail spaces in high-street locations of these eight cities is estimated to increase to 5.4 million sq ft this year from 5.3 million sq ft in 2024 calendar year. The demand of retail spaces in shopping malls increased to 3.8 million sq ft from 2.5 million sq ft during the period under review. The consultant noted that 2025 would see the highest annual absorption of retail spaces since the Covid pandemic that hit India in 2020. "India's retail real estate market is ...

The top cities are Bengaluru, Chennai, Delhi National Capital Region (NCR), Hyderabad, Mumbai Metropolitan Region (MMR), and Pune

The real estate investment trust (Reit), backed by Sattva Group and Blackstone, also achieved annual rental escalations on over 90 per cent of leases signed during the H1 period

Google has leased 617,000 sq ft at Gurugram's Atrium Place, marking one of the biggest office space deals of 2025, as it expands operations across India

The growth was driven by strong leasing activity and robust net absorption, as companies expanded their workforce and office space in major cities

India's retail real estate leasing rose 45% YoY to 2.41 msf in Q3 2025, driven by strong occupier demand from fashion, food and beverage, and entertainment categories

The Delhi-NCR property market witnessed a 2.5 times jump in net leasing of office spaces during the July-September period on better demand for premium workspaces from corporates, according to Cushman & Wakefield. Net leasing jumped to 3.79 million (37.9 lakh) square feet in the third quarter of this calendar year from 1.52 million (15.2 lakh) square feet in the year-ago period. Net absorption is a key indicator of real estate demand, representing the net change in occupied office space. Delhi-NCR contributed 23 per cent to the total net leasing of office spaces across the top eight cities during the July-September quarter. Net leasing of office space rose 35 per cent across eight major cities to 16.25 million (162.5 lakh) square feet during the third quarter of this calendar year from 12.08 million (120.8 lakh) square feet a year ago. With 44.3 million (443 lakh) sq ft of net absorption recorded in the first nine months of 2025, the market has already achieved nearly 87 per cent .

Country accounts for 48% of new office supply in APAC and demand 'remains positive': Colliers

Office space leasing in Delhi-NCR more than doubled to 2.62 million square feet during April-June on better demand of workspace in Gurugram and Noida from corporates, according to Vestian. On Friday, US-based real estate consultant Vestian released its report on India's top seven office markets that showed a 10 per cent rise in absorption or leasing of office space to 18.79 million sq ft during the second quarter of this calendar year. The consultant attributed the rise in demand to increased activities in three southern cities (Bengaluru, Hyderabad and Chennai), whose share rose to 59 per cent from 46 per cent in January-March quarter. As per the data, Bengaluru retained its dominant position with leasing of 5.62 million sq ft area in the latest June quarter, an increase of 32 per cent from the year-ago period. In Hyderabad, the demand grew 5 per cent to 3.56 million sq ft, while Chennai saw a 4 per cent increase in leasing activities to 1.82 million sq ft. In Delhi-NCR, the off

With total leasing in the first half of the year at approximately 42 million square feet, the sector is on pace to exceed 90 million square feet in annual activity, potentially setting a new record

Net absorption grew to 26.8 mn square feet across top 7 cities; Pune saw 188% rise, Bengaluru remained the leader in both new supply and total office space leased

Indian commercial real estate likely to have 'another impressive year' in 2025: Colliers

CBRE's India Office Figures for Q1 of 2025 also revealed that gross office leasing rose by 5 per cent yoy, reaching 18 million square feet across nine cities between January and March 2025

Demand for Grade-A, ESG-compliant, smart offices on the rise

Bengaluru, Chennai and Hyderabad lead in GCC leasing, accounting for 5.34 msf of the total 8.35 msf leased in Q1 CY25 as GCCs ramp up presence beyond metros

The lease spans five years with a rent escalation clause, includes 57 parking spots, and was registered on 9 May with a fit-out period of 150 days starting 1 May 2025

Cushman & Wakefield report states robust leasing, low supply in most markets helped to bring drop in vacancy rates

The net leasing of office space rose 54 per cent year-on-year to 127.8 lakh square feet in January-March this year across seven major cities on higher demand for workspaces from corporates, according to JLL India. Real estate consultant JLL said the net absorption is calculated as the new floor space occupied less floor space vacated. Floor space that is pre-committed is not considered to be absorbed until it is physically occupied. Gross leasing of office space increased 28 per cent in January-March this year at 19.46 million (194.6 lakh) square feet, the highest among all previous first quarters of any calendar year. Gross leasing refers to all lease transactions recorded during the period, including confirmed pre-commitments but does not include term renewals. Deals in the discussion stage are not included. The seven cities are Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad and Pune.