India’s office market saw robust leasing activity of 37.9 million sq. ft. in the first half of 2026, with Global Capability Centres (GCCs) poised to match or exceed last year’s levels. GCCs have already leased 15.8 million sq. ft. in H1 2026, indicating a potential surpassing of the previous record levels. The tech sector led the gross leasing in Q2 with a 28.8% share, primarily driven by global companies.
Flex operators followed closely behind, holding a 28.4% share, while manufacturing, industrial, and BFSI sectors accounted for 10.8% and 10.2%, respectively. Domestic occupiers witnessed a significant increase in their quarterly leasing share, reaching 47.3%, the highest in the last 9 quarters. The office market in India reflects maturity as global occupiers adopt a cautious approach amidst AI-driven business transformations and changing geopolitical landscapes.
Companies continue to show confidence in India’s growth prospects, utilizing Q2 2026 to optimize portfolios and align workforce projections with long-term strategies. India maintains its position as the largest GCC ecosystem globally, with GCCs expanding rapidly in the country. Bengaluru led the gross leasing activity in Q2, capturing a 24.6% share, followed by Delhi NCR, Pune, and Chennai.
Net absorption for H1 2026 surged to a decade-high of 26.9 million sq. ft., highlighting the rapid expansion of occupiers in India, supported by its strong fundamentals.
