India’s office market clocks 6 pc growth in Jan-June, GCCs lead

Bengaluru, June 25 (IANS) India office market in top seven cities remained firm at 35.7 million square feet in the first half of 2026 — a 6 per cent growth compared to the corresponding period in 2025 — as growth momentum was intact despite a slower second quarter, according to a new report on Thursday.

While Grade A space uptake moderated slightly in Q2 2026 (April – June) to 17.4 million sq ft, following a robust first quarter, the market largely remained resilient, even amid ongoing global trade disruptions and economic uncertainties, said the Colliers India report.

“India’s office market remained firm in the second quarter of the year. A strong first quarter in fact acted as a cushion, largely limiting the fallout of ongoing global crisis,” said Arpit Mehrotra, Managing Director, Office services, India, Colliers.

Q2 2026 is the ninth consecutive quarter to witness at least 15 million sq ft of Grade A space uptake across the top 7 office markets.

“This highlights the strong fundamentals of Indian office market, which has successfully traversed through multiple troughs and crests in the last decade. India’s established credibility as the most preferred GCC destination continues to support occupier expansion across most markets,” he added.

This only underscores the structural strength of the commercial real estate in India driven by cost arbitrage, talent availability and sustained growth in domestic economy, said the report.

During H1 2026, Bengaluru continued to remain India’s top office market, leading space uptake at 10.5 million sq ft, corresponding a 29 per cent share.

Hyderabad, with about 7.2 million sq ft of leasing, accounted for about one-fifth of the overall demand in H1 2026.

Notably, Hyderabad witnessed 47 per cent annual rise in leasing activity during H1 2026. Meanwhile, Delhi NCR, Mumbai and Chennai each witnessed leasing activity in the range of 4-5 million sq ft during the first half of the year.

“Overall, GCCs are likely to account for 40-50 per cent of the Grade A office space uptake in 2026,” said Vimal Nadar, National Director and Head of Research, Colliers India.

–IANS

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