India recorded net office absorption of 61.4 million sq ft across the top eight cities in 2025, marking a 25% year-on-year increase from 49.1 million sq ft in 2024, led by Chennai and Delhi-NCR.

• As per the report, Chennai has topped the list of net office leasing as it soared from 2.4 million sq ft in the 2024 calendar year to 7 million sq ft in 2025, an increase of almost 187%.
• Followed by Delhi-NCR, which has shown an 82% growth in net office leasing as it went from 6 million sq ft in 2024 to 10.9 million sq ft in 2025.
• Hyderabad witnessed a 15% growth in net office leasing as it increased from 7.9 million sq ft to 9.1 million sq ft.
• Bengaluru's net office leasing recorded a 1% percent growth as it rose from 14.2 million sq ft to 14.4 million sq ft.
• Mumbai, however, saw a decline as it went down to 9.6 million sq ft from 10.9 million sq ft, seeing a 12% decline.

According to the report, the growth in net absorption is due to the robust leasing activity, and the gross leasing volume is secured at around 89 million sq ft, matching the previous year's record.

Bengaluru, Mumbai and Delhi NCR dominated office leasing activity, together accounting for nearly 62% of the overall absorption. Other major markets such as Hyderabad, Pune and Chennai also recorded strong demand. Driving this momentum were Global Capability Centres (GCCs), which leased an all-time high of 29.3 million sq ft and made up roughly one-third of total leasing, underscoring India's growing stature as a preferred global business hub.

Cushman & Wakefield said office completions crossed the 50 million sq ft mark for the first time, with new supply reaching about 53 million sq ft, up 17% year-on-year. Rental values increased across all eight major office markets, led by Hyderabad and Mumbai with annual growth of 12-14%, while Ahmedabad, Delhi NCR and Chennai also recorded steady gains of 6-9%.

Strong leasing activity continued to support market momentum, with fresh transactions accounting for nearly 80% of total demand. Sectors such as IT-BPM, Global Capability Centres and flexible workspace operators remained key drivers, encouraging greater pre-commitments in prime locations and reinforcing the shift towards flexible, high-quality, future-ready office spaces across India.

Anshul Jain, Chief Executive for Office and Retail across India, SEA, MEA and APAC at Cushman and Wakefield, said that this year's performance shows a long-term growth trajectory on solid foundations. India will be leading for global enterprise decision making because of the occupier confidence, deep structural demand and continued infrastructure development.

Jain further said that Global Capability Centres (GCCs) now contribute close to one-third of overall leasing, and when combined with increasing technology adoption, a broad mix of occupiers, and India's deep talent base, the country is strongly placed to sustain its leadership in the global office market well beyond 2026.