India’s office market scales unprecedented highs with gross leasing activity at 83.3 million sq. ft for the year 2025: JLL

Gross Leasing (million sq. ft)

Market	Q3 2025	Q4 2025	Q-O-Q Growth (%)	2024	2025	Y-O-Y Growth (%)
Bengaluru	3.0	9.3	207.9%	22.0	24.1	9.8%
Chennai	2.3	2.5	9.4%	8.0	8.7	9.7%
Delhi NCR	4.6	4.4	-4.7%	17.7	17.4	-1.6%
Hyderabad	2.9	4.2	41.0%	10.7	11.7	8.9%
Kolkata	0.3	0.3	3.3%	1.7	1.6	-9.2%
Mumbai	2.4	4.2	70.7%	10.3	11.6	13.0%
Pune	1.4	1.9	34.9%	6.9	8.1	18.2%
Pan India	17.0	26.8	57.0%	77.2	83.3	7.8%

Source: Real Estate Intelligence Service (REIS), JLL Research

Leasing activity by occupier category (million sq. ft)

Occupier Category	2024	2025	Y-O-Y Growth (%)
GCCs	27.7	31.4	13.1%
Foreign – Non GCCs	17.6	17.2	-2.3%
Domestic	31.9	34.7	8.7%

Source: Real Estate Intelligence Service (REIS), JLL Research

Net Absorption Data

Net Absorption (million sq ft)

Market	Q3 2025	Q4 2025	Q-O-Q Growth (%)	2024	2025	Y-O-Y Growth (%)
Bengaluru	3.9	6.4	65.0%	14.7	16.9	14.8%
Chennai	1.6	1.8	12.3%	5.0	5.8	15.2%
Delhi NCR	3.9	2.4	-38.1%	9.4	12.3	30.2%
Hyderabad	1.6	2.7	66.7%	7.3	8.1	11.3%
Kolkata	0.2	0.3	45.4%	1.2	1.0	-11.5%
Mumbai	2.1	1.6	-25.2%	7.1	6.3	-10.8%
Pune	2.5	2.0	-20.3%	5.2	6.5	25.0%
Pan India	15.8	17.1	8.7%	50.0	57.0	14.1%

Source: Real Estate Intelligence Service (REIS), JLL Research