India continues to be the most cost-competitive office fit-out market in Asia Pacific, according to Cushman & Wakefield’s Asia Pacific Office Fit Out Cost Guide 2026.

Fit-out costs across major Indian cities range between USD 65–73 per sq ft, significantly lower than markets such as Tokyo (USD 215), Sydney (USD 161) and Singapore (USD 140). Mumbai remains the highest-cost market in India at around USD 73 per sq ft, while other cities, including Delhi NCR, Bengaluru, Hyderabad, Chennai and Pune largely range between USD 65–69 per sq ft.

India’s cost advantage coincides with strong occupier activity, with Asia Pacific’s prime office absorption reaching 92 million sq ft in 2025. India’s top eight cities accounted for nearly two-thirds of this demand.

On the supply side, around 192 million sq ft of the region’s 386 million sq ft under-construction office space is concentrated in India, reinforcing its role as a key supply and demand hub.

The report indicates improving delivery conditions, with 70 per cent of contractors expecting better market conditions in 2026 and project timelines stabilising. However, moderate increases in labour and vendor costs are anticipated.

Commenting on the findings, Shashi Bushan, Executive Managing Director – Project & Development Services (PDS) India, and Lead Occupier – PDS APAC, Cushman & Wakefield, said:

“India continues to stand out as one of the most cost-competitive fit out markets in Asia Pacific, not just on absolute cost benchmarks but also in terms of consistency across cities and depth of delivery capability. As occupiers increasingly look to deliver higher-quality, experience-led workplaces, this cost advantage becomes even more relevant.

In the current environment, where global supply chains are adjusting and input costs remain sensitive to energy prices, India’s relative positioning is strengthening further. A softer currency, combined with a mature local contractor ecosystem, allows occupiers to achieve globally benchmarked workplace standards at a more efficient cost.

Overall, we are seeing a clear shift—organisations are not stepping back from workplace investments but becoming more deliberate in how and where they deploy capital. In that context, India continues to offer a compelling balance of cost, quality and scalability.”