Large Office Deals Drive India's Commercial Real Estate With 65 per cent Share

13 May 2026 CW Team

Large office transactions, defined as areas of 100,000 square feet and above, accounted for 65 per cent of commercial leasing across India's top eight cities in the first quarter of 2026. They totalled 19.5 million square feet (mn sq ft), up three per cent year-on-year from 19 mn sq ft in Q1 2025. Overall office leasing reached 29.9 mn sq ft for the quarter.

Bengaluru led the large office segment with seven mn sq ft, comprising 77 per cent of the city's 9.2 mn sq ft leasing. Hyderabad recorded 4.4 mn sq ft in large deals, a 69 per cent rise from 2.6 mn sq ft a year earlier. Mumbai saw large transactions increase 81 per cent to 2.9 mn sq ft.

The mid-segment, between 50,000 and 100,000 square feet, contributed 17 per cent with 5.2 mn sq ft, up 27 per cent from 4.1 mn sq ft. Bengaluru led with 1.5 mn sq ft, while Hyderabad and Mumbai had 1 mn sq ft each. Smaller offices below 50,000 square feet also accounted for 17 per cent at 5.2 mn sq ft, up four per cent.

At city level, Mumbai led the small office category with 1.6 mn sq ft, followed by the National Capital Region with 0.9 mn sq ft. Bengaluru and Pune each recorded 0.7 mn sq ft. In the large office category the National Capital Region posted 2.7 mn sq ft, or 68 per cent of its 4 mn sq ft total, while Pune recorded 1.8 mn sq ft, or 58 per cent.

Knight Frank India said demand from Global Capability Centres (GCCs), technology firms and multinational corporations is driving the large office leasing market and noted that Bengaluru remains dominant while Hyderabad and Mumbai are growing strongly. The firm said appetite for high-quality office infrastructure and expanding occupier activity underpinned the momentum and reflected confidence in India's long-term growth and its role as a global business hub. Ahmedabad and Kolkata were said to be led mainly by small and mid-sized leases.

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