Delhi-NCR and Bengaluru Lead Office Leasing Activity in Q1 2025

Delhi NCR and Bengaluru together drove nearly half of the office leasing activity during the first quarter (Q1) of 2025, with leasing across the top seven markets remaining strong in Q1 at 15.9 million square feet, reflecting a 15 per cent year-on-year (YoY) increase, according to a report by real estate and investment firm Colliers.

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While Delhi NCR saw its highest quarterly leasing in the last 10 quarters, Chennai too witnessed a remarkable 93 per cent YoY surge at 2.9 million square feet, driven by space take-up by technology firms, the report noted.

This sustained demand growth underscores the continued resilience of the country's top seven markets, namely Bengaluru, Chennai, Delhi NCR, Hyderabad, Kolkata, Mumbai, and Pune.

"2025 has started on a positive note, with office leasing witnessing a commendable 15 per cent year-on-year growth at 15.9 million square feet in the first quarter. Key markets are seeing strong Grade A space uptake, driven by corporate expansions, rising investments in commercial real estate, amidst promising domestic growth prospects," said Arpit Mehrotra, Managing Director, Office Services, India, Colliers.