GCCs Drive 45% of India's Office Leasing in H1 2026

GCCs account for 45 pc of gross office leasing in India during Jan-June

New Delhi, July 17

The report from ANAROCK said overall gross leasing reached approximately 42.6 million sq. ft. as GCCs continued to dominate office space demand in the southern cities.

GCCs increased their share notably from 41 per cent in total H1 2025 demand, when they leased nearly 15.78 million sq. ft.

GCCs accounted for 70 per cent of Bengaluru's roughly 10.8 million sq. ft. absorption, 55 per cent of Chennai's 3.2 million sq. ft., and 48 per cent of Hyderabad's 6.4 million sq. ft.

"India's Grade A office market remained steady in H1 2026. Even as global businesses stayed selective on expansion, India continued to attract occupiers looking to consolidate higher-value functions in established office markets," the report said.

"This trend points to a structural shift in India's office market. This is not a short-term demand spike - MNCs are increasingly expanding India-based GCCs to house core functions such as engineering, R&D, AI, finance, cybersecurity, and digital operations," said Anuj Puri, Chairman - ANAROCK Group.

MNCs are drawn by India's deep talent base, operating efficiency, and mature office ecosystem - factors that will continue to drive both GCC and regular CRE absorption in the years to come, he added.

As demand continued to outpace fresh supply, vacancy levels across the top 7 cities softened to 15 per cent in H1 2026 from 16.3 per cent in H1 2025, pointing to a tightening market.

Grade A net office absorption reached 27.44 million sq. ft., up 2 per cent year‑on‑year from 26.8 million sq. ft.

Bengaluru and Hyderabad together accounted for about 13.47 million sq. ft, or 49 per cent of net leasing in H1 2026. Bengaluru recorded a 26 per cent annual rise to about 8.27 million sq. ft, while Hyderabad saw a 24 per cent increase to nearly 5.2 million sq. ft.

— IANS