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India's Office Market Hits Record 83.3 Million Sq Ft in 2025, Led by Global Firms

India's office market achieved a historic high with 83.3 million square feet of gross leasing in 2025, driven significantly by global firms. Global Capability Centres emerged as the dominant force, capturing a 37.7% market share and a record 31 million sq ft in absorption. Key cities like Bengaluru, Hyderabad, Pune, and Mumbai saw their best-ever annual performances, with Bengaluru leading as the top destination for global firms. The strong momentum positions the market to potentially reach the 100 million sq ft leasing milestone within the next two years.

Key Points: India Office Leasing Hits Record High in 2025, GCCs Lead

  • Record 83.3 million sq ft gross leasing in 2025
  • Global firms account for 58.4% share
  • GCCs dominate with 37.7% market share
  • Bengaluru leads with 29% share of leasing
2 min read

India's office market scales new high in 2025, global firms account for 58.4 pc share

India's office market leased a record 83.3 million sq ft in 2025, with global firms taking a 58.4% share. GCCs and tech sector drive growth.

"India's leasing volumes are well-positioned to potentially reach the 100 million sq. ft milestone within the next two years - Dr Samantak Das, JLL"

Mumbai, Jan 13

The year 2025 established yet another new record for the India's office market with 83.3 million square feet of gross leasing volumes for the full year, according to a report released on Tuesday.

With global firms accounting for a robust 58.4 per cent share, India's position as a strategic business hub offering genuine structural tailwinds was reaffirmed during a period marked by global uncertainties, said the JLL report.

The cities of Bengaluru, Hyderabad, Pune, and Mumbai recorded their best-ever year in gross leasing terms, showcasing broad-based and secular demand across multiple industry segments.

According to the report, gross leasing in other cities was also higher year-over-year or at near-similar levels compared to the previous year. This strongly indicates demand dispersion as occupier strategies evolve in a dynamic environment.

Global Capability Centres (GCCs) established themselves as the dominant force in India's office leasing market in 2025, capturing a commanding 37.7 per cent share of gross leasing activity and achieving record-breaking 31 million square feet of space absorption - the highest annual figure ever recorded for this segment.

"This exceptional performance was complemented by the Flex segment reaching unprecedented heights with a 26.6 per cent share in Q4 2025, marking its highest quarterly contribution to date," said Rahul Arora, Head-Office Leasing and Retail Services, Senior Managing Director (Karnataka, Kerala), India, JLL.

Tech maintained its position as the full-year leader with 25.8 per cent of total leasing volumes, while Manufacturing/Industrial (15.4 per cent) and BFSI (15.2 per cent) segments demonstrated nearly equal market participation.

Bengaluru remained the undisputed destination for global firms, strongly displaying its leadership status with a 29.0 per cent share in gross leasing for 2025. It was followed by Delhi-NCR with a 20.9 per cent share and Mumbai and Hyderabad following with near-identical shares of 14 per cent each, said the report.

"With this momentum and our strong deal pipeline, India's leasing volumes are well-positioned to potentially reach the 100 million sq. ft milestone within the next two years," said Dr Samantak Das, Chief Economist and Head of Research and REIS, India, JLL.

- IANS

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Reader Comments

R
Rahul R
Impressive numbers, no doubt. But I hope this growth translates into better infrastructure in these cities. The traffic in Bengaluru is already a nightmare. Development needs to be sustainable and planned.
D
David E
As someone working for a GCC in Pune, this report rings true. The expansion has been rapid. It's a positive sign for job creation and economic stability, especially with global uncertainties elsewhere.
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Anjali F
While the growth is commendable, I respectfully question if we are becoming too dependent on global firms. We need to see similar aggressive expansion from strong Indian product companies to build true economic sovereignty.
K
Karthik V
GCCs taking 37.7% share is huge! It shows India is the go-to destination for core global operations, not just back-office work. This means more high-quality jobs and skill development for our youth. Future looks bright!
S
Sarah B
The dispersion to other cities is a healthy trend. It can help decongest the major metros and spread economic opportunities. Hope Tier-2 cities also start getting a significant piece of this pie soon.

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