India Office Real Estate Market 2026 Records 42.9 Million Sq Ft Absorption As Coworking, BFSI Dominate 47% Of Leasing Demand
Mumbai: The Indian office real estate market recorded a net absorption of 42.9 million sq ft in the first nine months of 2026, up 2% Y-o-Y from 42 million sq ft in the corresponding period of 2025, finds latest data by Anarock Research & Advisory. While overall absorption remained stable, coworking and banking, financial services and insurance (BFSI) increased their share of leasing, with these…
India's office real estate market saw a net absorption of 42.9 million square feet in the first nine months of 2026, marking a slight 2% year-over-year increase from 42 million square feet in the same period in 2025. Coworking spaces and banking, financial services, and insurance (BFSI) sectors contributed to a 47% share of leasing demand, up from 41% the previous year. Hyderabad and Bengaluru experienced the most significant growth in both net absorption and new office completions.
The Mumbai Metropolitan Region (MMR) maintained steady absorption at 6.65 million square feet, while Hyderabad's net absorption surged 54% year-over-year to 8.8 million square feet. New completions in Hyderabad grew 63% to 9.6 million square feet. Bengaluru's absorption increased by 20% to 11.92 million square feet, with new completions rising 19% to 12.35 million square feet. Mumbai's average rentals increased by 12% to INR 77 per square foot per month, while vacancy decreased from 26.5% to 24%.
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