Overview
- Net absorption reached 61.4 million sq ft across the top eight cities, led by Bengaluru at 14.4 msf and Delhi NCR at 10.9 msf, with Chennai surging 187% to 7.0 msf.
- Gross leasing held at about 89 million sq ft for the year, with fresh take-up comprising nearly 80% of activity.
- Global Capability Centres leased a record 29.3 million sq ft, representing about one-third of annual demand, while IT-BPM accounted for 31%.
- Completions climbed to roughly 53 million sq ft as overall vacancy fell by 210 basis points year over year and rents rose across major markets, led by 12–14% gains in Hyderabad and Mumbai.
- Cushman & Wakefield executives project India to remain a leading global office market into 2026, citing structural demand, occupier confidence, and ongoing infrastructure development.