India’s Office Space Leasing Reaches Record 66.4 Million Sq Ft in 9M 2026, Reports CBRE
New Delhi, October 1, 2026: India’s office sector recorded absorption of approximately 66.4 million sq. ft. during the January–September (9M 2026) period, marking a record high for any nine-month period, according to CBRE South Asia’s latest Q3 office market report. Total absorption during the first nine months rose 8% year-on-year, while third-quarter (Q3) absorption reached 21 million sq. ft., representing a 6% increase over the same period last year.
Development completions also hit an all-time high of 51.0 million sq. ft. for 9M 2026, up 18% year-on-year. Q3 completions stood at 19.0 million sq. ft., led by Hyderabad, Bengaluru, and Pune, which together accounted for 89% of quarterly supply. Global Capability Centres (GCCs) drove significant expansion, leasing a record 28 million sq. ft. during 9M 2026—comprising 42% of overall leasing. Hyderabad led Q3 absorption, followed by Bengaluru and Delhi-NCR, with the three cities capturing roughly 69% of quarterly activity.
Flexible space operators, BFSI, and technology firms anchored quarterly demand, collectively accounting for 59% of absorption. Additionally, green-certified assets comprised 80% of new supply and 82% of leasing in Q3. CBRE’s outlook indicates sustained expansion, with 77% of surveyed occupiers planning to expand their office footprint in India over the next two years.
Anshuman Magazine, Chairman and CEO – India, South-East Asia, Middle East and Africa at CBRE, said, “After three consecutive record years, the office market remains on course for a fourth, with 9M 2026 leasing already accounting for nearly 80% of last year’s full-year total. What stands out is the breadth of demand underpinning this growth. Flex operators, BFSI and technology occupiers are all expanding simultaneously, while occupiers across the board continue to gravitate towards higher-quality buildings.”
Ram Chandnani, Managing Director – Leasing Services at CBRE India, added, “Occupiers are making two calls at once – they want quality, and the option to scale. That is why nearly three-fourths of the space taken up this quarter was in buildings under ten years old, and flex has become the largest demand driver. The ‘core plus flex’ model has moved from an experiment to a strategic portfolio decision.”
