India’s office market continued to display strong momentum in 2025, with demand from Global Capability Centres (GCCs) pushing total space uptake beyond 50 million sq ft in the first nine months of the year, according to property consultancy Colliers. The figure marks an 8% rise from last year, underscoring the sector’s resilience amid global economic uncertainty.
Office absorption in the July–September quarter stood at 17.2 million sq ft, slightly lower than the previous quarter but still robust and broadly distributed across the country’s top seven cities. Bengaluru maintained its lead as India’s primary office hub, accounting for 27% of all leasing activity so far this year, with 14 million sq ft transacted between January and September.
Pune, Mumbai and Chennai recorded particularly strong momentum in the third quarter, jointly accounting for more than half of Grade A office leasing. Each city reported year-on-year growth of at least 40%, reflecting a broad-based revival in occupier confidence. Over the nine-month period, leasing in Chennai, Delhi NCR, Hyderabad, Mumbai and Pune ranged between 6 million and 8 million sq ft each, indicating more balanced demand across major office markets.
Technology firms continued to dominate overall office leasing, contributing 36% of activity, while banking and financial services companies accounted for a further 19%. New supply also remained buoyant, with 16.6 million sq ft completed in the third quarter and 41.4 million sq ft delivered so far this year—a 10% rise on an annual basis, largely led by Bengaluru and Pune.
GCCs emerged as the single largest demand driver, having leased nearly 20 million sq ft this year, or about 40% of total office take-up. “India’s office market continues to demonstrate resilience, crossing the 50 million square feet benchmark despite external volatilities,” said Arpit Mehrotra, Managing Director, Office Services, India, Colliers. He added that strong interest from global technology firms is likely to push overall demand towards 70 million sq ft by year-end.
