Office Space Leasing Soars Amid Global Uncertainties

The demand for office space surged 15% in a quarter, surpassing 18 million sq ft across major Indian cities. Despite global issues, real estate expert Colliers India notes a positive trend in office space leasing, driven by Global Capability Centres and diverse sector demands. Bengaluru, Hyderabad, and Pune saw significant growth.

Amidst prevailing global uncertainties, the office space leasing market in India exhibited marked resilience, with a 15% growth reaching 18.3 million sq ft across seven major cities, according to a report from Colliers India. This upward trend, reported for the January-March 2026 period, continues to persevere against the backdrop of the West Asia conflict.

The report highlights significant leasing activities in key urban centers. Bengaluru, India's leading office market, experienced an 18% increase, hitting 5.3 million sq ft, while Hyderabad and Pune saw their leasing activities double. Conversely, Delhi-NCR and Chennai witnessed declines of 30% and 31%, respectively.

Colliers India's Managing Director, Arpit Mehrotra, suggested that despite potential challenges, the office space sector's future remains promising. Bharti Real Estate CEO S K Sayal added that both global and domestic occupiers are driving demand for modern, high-quality workspaces beyond conventional needs, valuing comprehensive amenities and connectivity.