The year 2025 saw India’s office market achieving a record high of 83.3 million square feet in gross leasing volumes. Global firms contributed significantly, holding a 58.4% share, reinforcing India’s status as a key business center amidst global uncertainties. Cities like Bengaluru, Hyderabad, Pune, and Mumbai experienced their best-ever year in terms of gross leasing, reflecting strong demand across various industry sectors.
Global Capability Centres (GCCs) emerged as a dominant force in India’s office leasing market, accounting for 37.7% of gross leasing activity in 2025. This segment absorbed a record-breaking 31 million square feet of space, the highest annual figure recorded. Additionally, the Flex segment reached new heights with a 26.6% share in Q4 2025, its highest quarterly contribution to date.
Tech sector led the leasing volumes in 2025 with 25.8%, while Manufacturing/Industrial and BFSI segments each held around 15% market share. Bengaluru maintained its position as the top destination for global firms, capturing 29.0% of gross leasing, followed by Delhi-NCR at 20.9%, and Mumbai and Hyderabad with nearly equal shares of 14% each. The report suggests that India’s leasing volumes are on track to potentially hit the 100 million sq. ft. milestone in the next two years.
