Office space leasing across India's top seven markets rose 7% year-on-year to 54.4 million sq ft in January-September 2026, according to a Colliers report released on September 28. The growth was driven by company expansion, global capability centre demand and flex workspace uptake.

Grade A office demand in the third quarter reached 18.7 million sq ft — a record high for a third quarter in recent years — up 7% sequentially and 9% year-on-year. Grade A means top-quality commercial space.

Bengaluru led with 15.7 million sq ft, a 29% share. Hyderabad followed with 9.4 million sq ft, up 47% year-on-year, while Delhi-NCR, Mumbai, Pune and Chennai recorded 8.3, 7.1, 6.9 and 6.0 million sq ft respectively.

Flex space leasing rose 37% year-on-year to 12.6 million sq ft, while conventional leasing was steady at 41.8 million sq ft. 'With cumulative Grade A space uptake already at 54.4 million sq ft, and demand prospects looking strong in the final quarter, we are well poised for a stronger 2026,' said Arpit Mehrotra, managing director of office services at Colliers India. The firm projects full-year 2026 transactions of 75-80 million sq ft, signalling continued strength in commercial real estate.