India's office leasing market surges 15 percent in Q1 2026. Gross office space leasing across seven major cities reached 18.3 million square feet in January-March, up from 15.9 million square feet year-over-year. Bengaluru led growth with 18 percent expansion to 5.3 million square feet, while Hyderabad and Pune doubled their leasing volumes to 3.4 and 2.5 million square feet respectively. Mumbai recorded 23 percent growth to 2.7 million square feet. This robust expansion reflects strengthening occupier demand across sectors and expanding Global Capability Centres footprint, demonstrating corporate confidence despite global uncertainties. Delhi-NCR and Chennai experienced declines of 30 and 31 percent respectively, while Kolkata remained flat. The sustained momentum signals healthy real estate fundamentals in India's commercial office sector.
