India stands out as Asia-Pacific office markets slow
India's office market stands out in Asia-Pacific with robust leasing activity, projected to exceed 80 million sq ft in 2025. Driven by GCC expansion and the tech sector, the country's Grade A stock now surpasses 1 billion sq ft. Bengaluru, Mumbai,...
By ET Bureau |
As office markets across Asia-Pacific navigate slower growth and rising uncertainty, India is emerging as a clear outlier. Leasing activity remains strong, driven by sustained GCC expansion, the tech sector, and demand consolidation into Grade A buildings. Prime office markets continue to show rental resilience even as several regional peers in Asia face moderation. India’s scale, talent base, affordability, and a demand-led supply pipeline are keeping the country’s office market structurally ahead of the region.
Office Market: India Leads on Scale, Growth and Quality
Office Leasing India office leasing is expected to cross 80 mn sq ft in 2025, among the highest leasing volumes in Asia-Pacific.
Grade A Office Stock: India crossed 1 b sq ft of Grade A-led office stock in 2025, with Grade A stock now accounting for over 50% of total supply.
Rental Growth Outlook (2026): Bengaluru, Mumbai, NCR 7.5% y-o-y on-year rental growth. India ranks among the top rental growth markets in APAC.
Leasing Preferences (2026) Rising demand for:
Shorter lease tenures
Expansion-ready floors
Managed office formats
Hybrid-fit solutions
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City Concentration Bengaluru, Mumbai, and NCR remain the top demand centres. Three markets continue to dominate leasing, rental performance, and tenant preference.
Cost Benchmark
Rentals remain below $1 per sq ft per month in several major Indian office markets.
Reinforces India’s position as a cost-competitive consolidation hub.
