India's office leasing maintains momentum through 3 quarters

India's office leasing activity across top seven office markets has continued to remain upbeat in the first three quarters of this year.

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Space uptake for the year so far has reached 50.9 million square feet (sq. ft.), marking an 8 per cent YoY growth. However, on a quarterly basis, it dipped marginally to 17.2 million square feet in Q3, according to Colliers survey.

While Bengaluru continued to drive overall transaction volumes in the third quarter, Pune, Mumbai and Chennai, particularly witnessed high demand traction. The three cities cumulatively accounted for more than half of the quarterly Grade A office space uptake. Notably, each of the three cities saw a YoY demand growth of at least 40 per cent in Q3.

In terms of 9-month space uptake, Bengaluru retained its dominance with 14 million sq. ft. of leasing and 27 per cent share in the overall India office space demand. Interestingly, Grade A space uptake has been more evenly balanced in Chennai, Delhi NCR, Hyderabad, Mumbai & Pune. Each of these five cities has already witnessed leasing activity to the tune of 6-8 million square feet in 2025, underscoring the momentum across most major cities of the country.