Delhi-NCR experienced its highest quarterly uptake of flexible office space in Q2 2026, with flex operators contributing to 45% of the region’s total leasing of nearly 3.6 million square feet. Key demand drivers in the area included research, consulting & analytics at 17% and technology at 12%, while new supply in Delhi-NCR reached around 2 million square feet.
Flexible space operators emerged as the leading occupier segment in India’s office sector, capturing a 27% share. In Q2 2026, flex, technology, and BFSI firms collectively drove 63% of leasing activities, with a similar trend continuing into H1 2026, accounting for 58% of the country’s leasing.
India’s office market witnessed a record absorption of approximately 24.6 million square feet in Q2 2026, marking an 18% increase sequentially and a 14% rise year-on-year. Concurrently, there was a record supply of about 21.0 million square feet, showing a significant 91% sequential growth.
Delhi-NCR, along with Bengaluru and Pune, emerged as the top three contributors to India’s Q2 2026 absorption, collectively representing 58% of the total. Global capability centers (GCCs) also played an active role in the region, contributing to an 8% share of pan-India GCC leasing in Q2 2026.
Anshuman Magazine, Chairman & CEO – India, South-East Asia, Middle East & North Africa at CBRE, highlighted the resilience of India’s office market amidst global uncertainties. He emphasized the market’s strength, driven by GCCs expanding their presence and flexible space operators expanding rapidly in various cities. Magazine expressed optimism that this positive momentum, supported by strong fundamentals and occupier confidence, will continue throughout 2026.
