India's Office Leasing Market in 2025
India's office real estate market experienced strong growth in 2025. Gross leasing volumes reached between 71.5 and 86.4 million square feet, marking an increase of 6% to 20% compared to the previous year. Several reports highlight key trends and growth drivers in the market.
Key Drivers and Cities
Reports from JLL and Knight Frank India indicate that Bengaluru led office leasing in 2025. Global Capability Centers (GCCs) emerged as a significant demand driver, with a substantial share of total office absorption. Technology companies and flexible workspace operators also contributed to the leasing activity.
Other cities that contributed significantly to office leasing in 2025 include Delhi NCR, Hyderabad, Chennai and Mumbai.
Market Dynamics
The demand for office space in India remained strong throughout 2025, driven by economic growth and the expansion of GCCs. While demand was robust, new office supply lagged behind leasing activity, leading to firm rental growth across major markets.
Conclusion
India's office leasing market demonstrated strong performance in 2025, with increased leasing volumes and significant contributions from Bengaluru, GCCs, and technology firms. The market saw increased demand and rental growth, indicating continued expansion in the Indian office sector.