Overview
- Knight Frank reported 86.4 million sq ft of gross leasing in 2025, up 20% year on year and above the 2019 pre‑pandemic high, with rents rising across all major markets.
- CBRE tracked 82.6 million sq ft across nine cities for 2025 and logged a robust 22.2 million sq ft in the fourth quarter, reflecting strong year-end momentum.
- Bengaluru led with 28.7 million sq ft, with Global Capability Centres taking 63% of that total, while Hyderabad (11.4 mn sq ft), Delhi-NCR (11.3 mn sq ft), Pune (10.8 mn sq ft) and Chennai (10.1 mn sq ft) crossed the 10 mn sq ft mark.
- Tight supply supported rent growth, with Kolkata posting the sharpest annual increase at 16%, followed by NCR and Hyderabad at 10% each and Mumbai and Bengaluru at 6% each.
- Occupier mix shifted toward Grade A, amenity-rich, green-certified space, with flex operators taking 18.8 mn sq ft (22% share) and third-party IT services reaching 15.3 mn sq ft (20%).