- 74% growth in eight major cities of the country
- Knight Frank report on the first quarter of 2025
Office space leasing has shown significant growth in the country. According to the ‘India Real Estate: Office and Residential Report’ by real estate consultant Knight Frank India, office space leasing in the country’s eight major cities increased by 74% in the first quarter of this year, reaching 28.2 million square feet.
Looking at the cities individually, in Bengaluru, office space leasing increased from 3.5 million square feet to 12.7 million square feet, a growth of 2 times. In Hyderabad, office demand increased by 31% from 3 million square feet to 4 million square feet. In Pune, it grew from 1.9 million square feet to 3.7 million square feet. In Mumbai, office leasing increased by 24% from 2.8 million square feet to 3.5 million square feet. In Chennai, gross leasing increased by 56%, rising from 1.2 million square feet to 1.8 million square feet. However, in Delhi, leasing decreased by 33%, falling from 3.1 million square feet to 2.1 million square feet. Similarly, in Ahmedabad, demand dropped by 54%, decreasing from 0.5 million square feet to 0.22 million square feet. In Kolkata, gross office leasing fell by 16% in Q1 2025, dropping from 0.2 million square feet to 0.16 million square feet.
The report highlighted strong demand from GCCs, BFSIs, technology companies, and data centres, which has contributed to the growth in office leasing in India.
“Q1 2025 has been an exceptional period for India’s office space market. Demand from GCCs is consistently reaching new highs, and as a result, India is solidifying its position as a long-term investment destination,” said Shishir Baijal, Chairman and Managing Director of Knight Frank India.
