Office leasing in India rises 10 pc to 21 mn sq ft in Q1, strongest in 5 years
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India's office leasing market saw a 10% year-on-year growth to 21.6 million sq ft in Q1 2026, marking the strongest leasing activity in five years. The technology industry dominated leasing activity, with Bengaluru and Delhi-NCR being the leading office markets.
India's office leasing market grew 10% year-on-year to 21.6 million sq ft in Q1 2026. The technology industry led leasing activity with a 32% share. Bengaluru and Delhi-NCR were the top office markets, with Bengaluru seeing a 25% year-on-year increase in leasing activity. Hyderabad and Pune also saw significant growth, while Mumbai's absorption declined 15% year-on-year. The overall vacancy rate eased to 13.9% during the same period. Large deals drove market activity, contributing 52% to overall transactions.
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