According to Cushman & Wakefield, the Delhi-NCR property market had an increase in demand during the July-September period, indicating a strong demand for premium work spaces of corporations. The net leasing of office spaces jumped 2.5 times to 3.79 million square feet in the third quarter of this calendar year of 1.52 million square feet in the previous year, reports Pti. This growth has positioned Delhi-NCR as an important player in the national real estate market, which contributed 23 percent to the total net leasing of office spaces over the top eight cities during the period. Pan-India Office Space Market Posts Robust Growth The strong performance was not limited to Delhi-NCR. Eight major cities, including Mumbai, Pune, Bengaluru, Hyderabad, Chennai, Kolkata and Ahmedabad, were also observed. During the third quarter of this calendar year, the net leasing of office space in these cities increased by 35 percent to 16.25 million (162.5 lakh) square feet from 12.08 million (120.8 lakh) square feet a year ago. The real estate market already scored last year’s record, with 44.3 million (443 lakh) square meters net absorption recorded in the first nine months of 2025. This represents nearly 87 percent of the total 50.7 million (507 lakh) square feet recorded for the full year in 2024. Net absorption is an important indication of the demand for real estate, which represents the net change in the occupied office space. “With a quarter to go and a strong pipeline of active transactions, the market is firmly on track to surpass last year’s record, which may be a new highlight for the annual net absorption this year,” C&W said. What is driving this growth? According to Anshul Jain, the CEO of India, Sea & Apac office and retail in Cushman & Wakefield, the Indian office sector shows structural strength and is now ‘firmly in an expanding cycle’. He also added that more than 80 percent of hiring the Q3 was driven by fresh absorption, which is a clear sign that occupiers are growing their footprint in India and not just renewing space. The market also sees a decisive shift to quality. Nearly 80 percent of fresh office space in the third quarter was grade a-assets, indicating an appetite for premium, future workspaces, he noted. This evolution is fueled by various long-term principles, including the rise of global capability centers (GCCs), the scaling down of start-ups and the revival of manufacturing and engineering sectors, PTI said in its news release. Jain concluded that occupiers of office space make strategic and quality-driven decisions because India is increasingly regarded as a core market for global operations, not just a cost center-a structural shift that he believes is here to stay.
Delhi, Mumbai and 6 other cities witness in the office of office space in July-September: What drives the question?
