Large Office Deals Dominate Q1 2026 Leasing: Knight Frank India
Real Estate

Large Office Deals Dominate Q1 2026 Leasing: Knight Frank India

Large office space transactions continued to drive India’s commercial leasing market in Q1 2026, with deals of 100,000 sq ft and above accounting for 65% of total leasing activity across the country’s top eight cities, according to Knight Frank India. The segment recorded 19.5 million sq ft of transactions during the quarter, marking a 3% year-on-year increase from 19 million sq ft in Q1 2025.

Bengaluru remained the leading market for large office leases, registering 7 million sq ft of transactions in the 100,000 sq ft-plus category. Large deals formed 77% of the city’s overall office leasing volume of 9.2 million sq ft. Hyderabad ranked second with 4.4 million sq ft of large transactions, posting a sharp 69% YoY growth compared to 2.6 million sq ft in Q1 2025. Mumbai followed with 2.9 million sq ft, recording an 81% rise over the same period last year.

Viral Desai, International Partner and Senior Executive Director, Occupier Strategy & Solutions (Industrial & Logistics, Capital Markets and Retail Agency), Knight Frank India, said, “India’s office market continues to witness strong demand from large occupiers, particularly from Global Capability Centres (GCCs), technology firms and multinational corporations expanding their operations in the country. While Bengaluru remains the dominant market for large office transactions, cities such as Hyderabad and Mumbai are witnessing accelerated growth driven by expanding corporate occupier activity and demand for high-quality office infrastructure. The sustained momentum in large office leasing reflects occupier confidence in India’s long-term growth story and its position as a global business hub.”

Leasing in the mid-sized segment of 50,000 sq ft to 100,000 sq ft stood at 5.2 million sq ft in Q1 2026, rising 27% YoY from 4.1 million sq ft in Q1 2025. This segment contributed 17% to total office transactions, with Bengaluru leading at 1.5 million sq ft, followed by Hyderabad and Mumbai at 1 million sq ft each.

Small office leases below 50,000 sq ft also totalled 5.2 million sq ft during the quarter, showing a 4% YoY growth from 5 million sq ft. Mumbai led this category with 1.6 million sq ft of transactions, while NCR recorded 0.9 million sq ft. Bengaluru and Pune followed with 0.7 million sq ft each.

Large office space transactions continued to drive India’s commercial leasing market in Q1 2026, with deals of 100,000 sq ft and above accounting for 65% of total leasing activity across the country’s top eight cities, according to Knight Frank India. The segment recorded 19.5 million sq ft of transactions during the quarter, marking a 3% year-on-year increase from 19 million sq ft in Q1 2025.Bengaluru remained the leading market for large office leases, registering 7 million sq ft of transactions in the 100,000 sq ft-plus category. Large deals formed 77% of the city’s overall office leasing volume of 9.2 million sq ft. Hyderabad ranked second with 4.4 million sq ft of large transactions, posting a sharp 69% YoY growth compared to 2.6 million sq ft in Q1 2025. Mumbai followed with 2.9 million sq ft, recording an 81% rise over the same period last year.Viral Desai, International Partner and Senior Executive Director, Occupier Strategy & Solutions (Industrial & Logistics, Capital Markets and Retail Agency), Knight Frank India, said, “India’s office market continues to witness strong demand from large occupiers, particularly from Global Capability Centres (GCCs), technology firms and multinational corporations expanding their operations in the country. While Bengaluru remains the dominant market for large office transactions, cities such as Hyderabad and Mumbai are witnessing accelerated growth driven by expanding corporate occupier activity and demand for high-quality office infrastructure. The sustained momentum in large office leasing reflects occupier confidence in India’s long-term growth story and its position as a global business hub.”Leasing in the mid-sized segment of 50,000 sq ft to 100,000 sq ft stood at 5.2 million sq ft in Q1 2026, rising 27% YoY from 4.1 million sq ft in Q1 2025. This segment contributed 17% to total office transactions, with Bengaluru leading at 1.5 million sq ft, followed by Hyderabad and Mumbai at 1 million sq ft each.Small office leases below 50,000 sq ft also totalled 5.2 million sq ft during the quarter, showing a 4% YoY growth from 5 million sq ft. Mumbai led this category with 1.6 million sq ft of transactions, while NCR recorded 0.9 million sq ft. Bengaluru and Pune followed with 0.7 million sq ft each.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code