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Net leasing across eight major cities rises 24% to 27.8 million sq ft in the first half of 2025, against 22.5 million sq ft in the same period last year, says Cushman & Wakefield.
Overall, across the eight major cities, net leasing rose 24 per cent year-on-year to 27.8 million sq ft in the first half of 2025, compared with 22.5 million sq ft in the same period last year.
India’s office market continues to outperform global peers, underpinned by a solid economic outlook and long-term occupier confidence, according to real estate consultant Cushman & Wakefield. It said net leasing across eight major cities rose 24 per cent year-on-year to 27.8 million sq ft in the first half of 2025, compared with 22.5 million sq ft in the same period last year.
“India’s office market continues to outperform global peers, underpinned by a solid economic outlook and long-term occupier confidence,” said Anshul Jain, Chief Executive, India, SEA and APAC Tenant Representation at Cushman & Wakefield.
Net absorption, or leasing, tracks the net change in occupied office space in a market during a given period.
City-wise, Bengaluru’s absorption slipped from 6.2 million sq ft to 6 million sq ft. Kolkata too reported a decline of 11 per cent, with net leasing at 0.8 million sq ft against 0.9 million sq ft a year ago. Ahmedabad witnessed the sharpest fall, with demand plunging 94 per cent to 0.1 million sq ft from 2.1 million sq ft.
On the other hand, Mumbai, Delhi-NCR, Pune, and Chennai registered strong growth. Net leasing in Mumbai rose 30 per cent to 5.5 million sq ft from 4.2 million sq ft. Pune saw demand more than double to 4.3 million sq ft from 1.7 million sq ft. In Delhi-NCR, net absorption surged to 5.2 million sq ft from 2.9 million sq ft, while Chennai recorded a jump to 3.1 million sq ft from 1.7 million sq ft.
Hyderabad remained steady at 2.8 million sq ft, the data showed.
The consultant also highlighted that new office supply across these markets grew 14 per cent annually to 23.2 million sq ft in the January-June period of 2025.
Meanwhile, according to the latest report by Anarock, India’s most dynamic housing micro markets have delivered remarkable gains for both homeowners and investors between the end of 2021 and mid-2025. In some areas, property prices have nearly doubled; in others, rents have climbed at a pace that outstripped inflation by a wide margin. The twin forces driving this surge – strong employment-driven demand and steady infrastructure upgrades — have given rise to markets where both capital appreciation and rental values growth are driven by location dynamics, connectivity, and economic momentum.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
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