Hyd follows B’luru in office space demand

New Delhi: Office space leasing across India’s top seven markets rose 7 per cent year-on-year to 54.4 million square feet in the first nine months of 2026 because of sustained occupier expansion, demand from global capability centres and growing uptake by flexible workspace operators, a report showed.

According to a report by property consultant Colliers, Grade A office demand in the third quarter reached 18.7 million sq ft, a record high for a third quarter in recent years and 7 per cent higher than the previous quarter.

The demand was also up 9 per cent from a year earlier, it added.

City-wise, Bengaluru led leasing activity during January-September with 15.7 million sq ft, accounting for 29 per cent of total demand, while Hyderabad followed with 9.4 million sq ft, up 47 per cent year-on-year.

Meanwhile, Delhi-NCR recorded 8.3 million sq ft of leasing during the period. Mumbai, Pune and Chennai saw demand of 7.1 million sq ft, 6.9 million sq ft and 6 million sq ft, respectively.

Moreover, five of the seven markets recorded annual growth in leasing during the nine-month period, according to the report.

The report further noted that annual office transactions across the major markets could reach 75-80 million sq ft in 2026.

“With cumulative Grade A space uptake already at 54.4 million sq ft, and demand prospects looking strong in the final quarter, we are well poised for a stronger 2026,” said Arpit Mehrotra, managing director, office services, Colliers India.