New Delhi, March 26 Demand for office space remained strong this quarter despite global uncertainties, as gross leasing of workspace rose 15 per cent to 18.3 million sq ft across seven major cities, according to Colliers India.
Real estate consultant Colliers India on Thursday released the data for the office market for the January-March period of this calendar year and asserted that the demand side outlook remains positive for 2026 despite the ongoing West Asia conflict.
Gross leasing of office space across seven cities -- Bengaluru, Chennai, Delhi-NCR, Hyderabad, Kolkata, Mumbai, and Pune -- stood at 18.3 million sq ft during the current quarter, as against 15.9 million sq ft a year ago.
"This continued momentum has been supported by strengthening occupier demand across sectors and expanding Global Capability Centres (GCCs) footprint, despite ongoing global uncertainties," the consultant said.
Bengaluru, the biggest office market, saw an 18 per cent growth in office leasing to 5.3 million sq ft during January-March from 4.5 million sq ft in the corresponding period of the preceding year.
In Hyderabad, the leasing doubled to 3.4 million sq ft from 1.7 million sq ft.
Gross leasing in Pune more than doubled to 2.5 million sq ft from 1.2 million sq ft.
Mumbai, too, saw a 23 per cent rise in office demand to 2.7 million sq ft from 2.2 million sq ft.
The gross leasing of office space fell 30 per cent in Delhi-NCR to 2.3 million sq ft from 3.3 million sq ft.
Similarly, the demand in Chennai fell 31 per cent to 2 million sq ft from 2.9 million sq ft.
The gross leasing of workspace remained flat in Kolkata at 0.1 million sq ft during the January-March quarter.
Gross absorption or leasing does not include lease renewals, pre-commitments and deals where only a letter of intent has been signed.
"Although global headwinds continue to loom large and can potentially impact completion timelines, demand side outlook for 2026 remains positive at this juncture," said Arpit Mehrotra, Managing Director, Office Services, India, Colliers.
According to S K Sayal, MD & CEO of Bharti Real Estate, "We have been witnessing this strong momentum in India’s office market over the past few quarters, with demand steadily rising from both global and domestic occupiers."
He said companies are increasingly looking for high-quality, future-ready workspaces that go beyond conventional office setups.
Sayal noted that corporates value not just Grade A infrastructure, but also the overall experience, ranging from curated retail and F&B to seamless connectivity.
