New office supply rises 26% across top cities; Pune leads with 3.7 mn sq ft

13 Nov 2025 CW Team

India’s top six cities recorded a 26 per cent annual rise in new office space supply during the July–September 2025 quarter, touching 16.1 million sq ft, according to real estate consultant Vestian. The growth reflects developers’ efforts to capitalise on rising demand for Grade-A workspaces from global and domestic occupiers.

Supply Break-up by City

Vestian’s data highlights strong activity across several markets:

• Pune led with 3.70 million sq ft, a 164 per cent year-on-year surge.

• Delhi-NCR saw a 35 per cent rise to 3.10 million sq ft.

• Chennai posted a significant 320 per cent jump to 2.1 million sq ft.

• Mumbai doubled its fresh supply to 1.80 million sq ft.

• Bengaluru, India’s largest office market, saw a 6 per cent decline to 3.40 million sq ft.

• Hyderabad recorded a 51 per cent drop to 2 million sq ft.

• Kolkata, the seventh city tracked by Vestian, saw no new supply during the quarter.

Office leasing across the seven major cities rose 6 per cent, reaching 19.69 million sq ft. The increase was driven largely by sustained expansion from global capability centres (GCCs), technology firms and large corporates.

Leading office space developers include DLF Ltd, Tata Realty & Infrastructure, Hiranandani Group, Embassy Group, Prestige Estates, Sattva Group and RMZ Group.

India’s four listed REITs—Knowledge Realty Trust (Sattva-Blackstone), Embassy Office Parks REIT, Mindspace Business Parks REIT and Brookfield India Real Estate Trust—continue to expand portfolios through greenfield and brownfield developments, supported by strong leasing momentum and stable rental income.

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