India Office Market Remains Resilient

India’s office market sustained healthy momentum in Q3 2026, with gross leasing volumes reaching 21.9 MSF across the top eight cities. Leasing activity remained robust, supported by strong economic growth, GCC expansion and healthy occupier demand, despite global uncertainty and rising interest rates. Fresh leasing remained robust, driving higher net absorption, while flexible workspace operators continued to expand across major office markets.

Bengaluru led leasing activity, followed by Hyderabad and Mumbai, while BFSI emerged as the largest demand driver during the quarter. Record Grade A office completions enhanced market depth, particularly in Bengaluru and Hyderabad. Strong demand supported net absorption of 14.1 MSF, while office rentals continued to appreciate across key commercial corridors despite higher supply additions.