India’s office leasing activity in 2025 reached a record 82.6 million square feet, showing a slight increase of about 1% from the previous year, as per a report by CBRE South Asia Pvt. Ltd. The report highlighted that technology, flexible workspace operators, and BFSI firms were major drivers, contributing to around 60% of the total leasing activity during the year.
Bengaluru, Mumbai, and Delhi-NCR collectively represented approximately 61% of the overall absorption, with Global Capability Centres (GCCs) playing a significant role, constituting about 39% of the leasing in Q4 2025. Anshuman Magazine, Chairman & CEO, India, South-East Asia, Middle East & Africa at CBRE, mentioned that Global Capability Centres are expected to fuel 35-40% of total space absorption in 2026, with a focus on mid-market entities, global unicorns, and emerging sectors.
The tech sector is projected to continue leading India’s office space absorption, emphasizing the recruitment of specialized talent in areas like artificial intelligence (AI), machine learning (ML), data analytics, and cloud computing. The demand for office spaces was primarily fueled by consistent investments and the expansion strategies of both global and domestic companies, supported by their digital transformation initiatives.
Quarterly leasing saw a 15% sequential increase to 22.2 million square feet in October-December, with Bengaluru (24%), Mumbai (22%), and Delhi-NCR (18%) being the top performers. Global Capability Centres accounted for approximately 8.5 million square feet in Q4, with Bengaluru taking the lead at 44% share, followed by Hyderabad and Delhi-NCR as prominent GCC destinations.
While US companies continued to be the main drivers of GCC demand, occupiers from EMEA and APAC regions are increasingly setting up operations in India, drawn by the success of existing centres and the rapid growth of the country’s digitally skilled talent pool.
