Indian Real Estate – Top Cities to touch 50 million sq ft office leasing, Bengaluru remain choicest amongst GCCs

Top Indian cities are among the most sought-after office leasing destinations in the Asia-Pacific region in July-September 2025. In Q3 2025, Bengaluru, Delhi-NCR, and Mumbai logged a 4.3% yearly rise in office rental prices. The figure indicates a sturdy market ecosystem for operations.

According to the report by Knight Frank India, India is expected to touch 50 million sq. ft., office leasing in 2025. The figure will be higher than 41 million sq ft in 2024. The amplified value will be the reflection of the growing demand for Global Capability Centers.

The Q3, 2025 reports positively supportive leasing commitment from Global Capability centers. Why India is popular for office leasing activity has an answer. The restoration of third-party IT services is a key reason for India being a popular office space leasing area. The Knight Frank India’s Asia-Pacific Office Highlights Q3, 2025, report exhibits.

The report further shows a little over 4% growth in rental value on *YoY basis from July to September 2025. With Outer Ring Road and Whitefield elevating as emerging business corridors, Bengaluru records 2.2% *QoQ rise. Also, Bengaluru, India’s IT capital, locks 8.8% YoY growth.

Shishir Baijal, Chairman and Managing Director, Knight Frank India, said, “India’s office market continues to stand out as a beacon of stability and long-term potential amid regional uncertainty. The strong leasing activity highlights its growing importance in global business strategies. Continued interest from GCCs and renewed activity in the IT sector point to India’s deep talent pool, improving infrastructure, and investor trust. As occupiers embrace flexible and hybrid work models, the Indian office landscape is evolving into a more dynamic, tech-driven ecosystem, that till define the next phase of growth.”

The rental value in Bengaluru’s central business center stands at Rs. 1,807 per sq ft. While in Delhi’s Connaught Place, the value locks at Rs. 4,200 per sq.ft. Followed by Bandra-Kurla-Complex (BKC) in Mumbai with Rs. 3, 953 per sq.ft.

Looking at the trend, real estate experts are optimistic about the Indian office market business to grow in 2026. Also, the economic policies and Government initiatives will help Tier-II cities to prosper as GCCs.

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*YoY - Year on Year; *QoQ - Quarter over Quarter; *GCC - Global Capability Centers