Office Space Leasing in India's Top 8 Cities Q1 2026

ongoing

The project involves the leasing and development of office spaces across India's top eight cities: Delhi-NCR, Mumbai, Bengaluru, Hyderabad, Chennai, Pune, Kolkata, and Ahmedabad. The net leasing of office space declined by 24% in January-March 2026 due to lower demand and supply constraints, with a total net leasing of 11.51 million sq ft compared to 15.08 million sq ft in the previous year. The slowdown is attributed to delays in completion of office complexes and softer fresh leasing following a strong end to 2025. Despite this, gross leasing increased by 13% to 21.89 million sq ft. Around 61 million sq ft of new premium Grade A+ office space supply is expected to enter the market, which may ease vacancy levels but overall vacancy is expected to remain stable due to strong absorption and pre-commitment trends.