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GCC-led demand and strong leasing drive India’s best-ever office market performance.

India Office Market Hits Record 61 Million Sq Ft Net Absorption in 2025: Cushman & Wakefield.

India’s office market recorded its strongest-ever performance in 2025, with net absorption reaching a record 61.4 million sq ft, a 25% year-on-year growth, according to a report by Cushman & Wakefield. Bengaluru led demand with 14.4 million sq ft, followed by Delhi NCR at 10.9 million sq ft, while Mumbai, Hyderabad, Pune and Chennai also saw robust leasing activity. Gross leasing volume stood at around 89 million sq ft, matching last year’s peak, with fresh leasing accounting for nearly 80% of total transactions. Global Capability Centres (GCCs) emerged as a key growth driver, leasing 29.3 million sq ft and contributing 33% of total demand. Office supply also hit a record 53 million sq ft, yet strong absorption led to vacancy falling by 210 basis points, the sharpest drop on record. Rentals rose across all major cities, led by Hyderabad and Mumbai, supported by tight vacancies and sustained occupier demand, indicating a resilient outlook for 2026 and beyond.