Office Leasing

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.

Gross leasing refers to all lease transactions recorded during the period, including confirmed pre-commitments, but not term renewals and deals in the discussion stage

The rent for office spaces in India's seven major cities rose 4-8 per cent annually in 2024 while the eight big overseas markets saw a mixed trend in rental growth, according to Vestian. As per the data by real estate consultant Vestian, the average office rent in New York fell 1.3 per cent in 2024 to USD 7.5 per square feet per month. Shanghai saw a decline of 6.8 per cent to USD 2.8 per square feet per month, while Hong Kong witnessed a fall of 6 per cent to USD 5.9 per square feet a month. Office rent in Seattle dipped 1.9 per cent in 2024 to USD 4.7 per square feet per month. However, the average office rentals rose in London by 8.6 per cent to USD 8.6 per square feet per month. Miami saw a 7.3 per cent increase in office rent in 2024 to USD 5.1 per square feet per month, while Boston witnessed a 1.2 per cent rise to USD 5.5 per square feet per month. The average office rent in Singapore inched up 0.5 per cent in 2024 to USD 7 per square feet per month. Vestian CEO Shrinivas

Leasing of logistics and industrial spaces rose 18.5 per cent in January-March this year to 160 lakh square feet across 24 cities on better demand, according to Savills India. The leasing of industrial and logistics spaces stood at 135 lakh square feet in the year-ago period across 24 tier I-II-III cities. Real estate consultant Savills India data showed that Tier-I cities accounted for 79 per cent of the leasing activities, while Tier-II and Tier-III cities contributed 21 per cent. Tier- I cities include Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, Delhi-NCR, and Pune. Tier- II and Tier-III cities include Guwahati, Bhubaneshwar, Patna, Hosur, Coimbatore, Rajpura, Lucknow, Jaipur, Nagpur, Surat, Indore, Kochi, Hubli, Vizag, Belgaum and Anantapur. Savills noted that manufacturing segment accounted for 30 per cent of the total absorption of industrial and logistics spaces in January-March 2025, followed by the 3PL (third-party logistics) players at 26 per cent, retail