India’s office market expands 7%; Bengaluru leads, Hyderabad logs fastest growth
Occupied office space across India’s eight major markets rose by 58.3 million sq ft in a year, with Bengaluru retaining its lead and Hyderabad recording the fastest growth among the largest office markets.
National Capital Region (NCR) remained the second-largest market, recording a more modest 2% increase to 178.3 million sq ft. (AI Image)
India’s office market continues to expand, with occupied office space across the country’s eight major markets rising 7% year-on-year to 917.7 million sq ft as of September 30, 2026. Bengaluru remains the country’s largest office market, while Pune has joined the 100-million-sq-ft club, underlining the growing scale of commercial real estate beyond the traditional business hubs.
The occupied office stock stood at 859.4 million sq ft a year earlier, according to Knight Frank India. The addition of 58.3 million sq ft over the past year points to continued growth in the country’s office market, supported by business expansion and occupiers’ evolving workplace needs.
Bengaluru retained its lead, with occupied office stock rising 9% year-on-year to 227.9 million sq ft from 208.3 million sq ft. The National Capital Region (NCR) remained the second-largest market, recording a more modest 2% increase to 178.3 million sq ft.
Mumbai’s occupied office stock grew 5% to 148.2 million sq ft, while Hyderabad emerged as the fastest-growing market among the four cities with more than 100 million sq ft of occupied space. Its stock rose 11% to 119.8 million sq ft from 108.3 million sq ft a year ago.
Pune, meanwhile, crossed a significant threshold. Occupied office stock in the city reached 101 million sq ft as of September 30, 2026, up 9% from 92.4 million sq ft a year earlier. The milestone reinforces Pune’s position as a major commercial real estate destination.
“India’s office markets continue to demonstrate resilience, supported by business expansion and the evolving workplace requirements of occupiers,” said Viral Desai, International Partner and Senior Executive Director, Occupier Strategy Solutions, Industrial & Logistics, Capital Markets & Retail, Knight Frank India.
He described Pune crossing 100 million sq ft of occupied office stock as an important milestone, reflecting the market’s growing scale. He added that sustained growth in Bengaluru, Hyderabad and other leading markets points to the breadth of office market activity across the country.
Ahmedabad leads among smaller markets
Growth was not limited to the larger office hubs. Ahmedabad recorded the fastest increase among the four markets with occupied stock below 100 million sq ft, rising 10% year-on-year to 28 million sq ft from 25.5 million sq ft.
Kolkata also registered a strong increase, with occupied office stock climbing 9% to 25 million sq ft from 22.9 million sq ft. Chennai, one of the country’s established office markets, recorded a 5% rise to 89.5 million sq ft from 85.5 million sq ft.
The latest figures highlight the differing growth trajectories of India’s office markets. While Bengaluru continues to dominate in terms of scale, Hyderabad is expanding at a faster pace among the largest markets. Pune’s latest milestone and the gains recorded in Ahmedabad and Kolkata show that office market growth is also extending across a wider range of cities.
