Global Capability Centres (GCCs) played a significant role in India’s office market in 2025, contributing 38% to the total annual transactions of 31.8 million square feet. Bengaluru led the way with 47% of GCC leasing activity, totaling 15.2 million square feet. Overall, annual gross leasing reached 86.4 million square feet, marking a 20% year-on-year increase and surpassing the previous peak in 2024.
The report by Knight Frank India highlighted a 43% rise in activity compared to pre-pandemic levels in 2019, showcasing sustained occupier demand growth over the past four years. Bengaluru emerged as the largest office market, grossing 28 million square feet, a historic high for the city.
Other key office markets like Hyderabad, Delhi-National Capital Region (NCR), Pune, and Chennai also saw significant growth, each surpassing the 10 million square feet mark. Mumbai narrowly missed this benchmark at 9.8 million square feet, according to the findings.
Shishir Baijal, International Partner, Chairman, and Managing Director, emphasized the exceptional performance of India’s office market in 2025, with leasing volumes rising over 20% year on year. This surge signifies a structural shift in how global and domestic enterprises view India as a long-term business destination. The report also noted that flex space accounted for 22% of total gross leasing, while third-party IT services took up 20% of the transacted area, with volumes growing by 94% year on year.
