Office Leasing in Top Cities Jumps 54 per cent in Jan–Mar: JLL India Report

21 Apr 2025 CW Team

Net office leasing across India’s top seven cities rose by 54 per cent year-on-year to 12.78 million square feet during January to March 2025, as corporates continued expanding their workspace footprints, according to real estate consultancy Jones Lang LaSalle (JLL) India.

Net absorption refers to actual space physically occupied minus vacated space and excludes pre-committed space until occupation.

Gross leasing climbed 28 per cent to 19.46 million square feet — the highest first-quarter volume recorded for any calendar year. This figure includes all completed lease transactions, including pre-commitments, but not renewals or deals still under negotiation.

The seven cities covered are Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, and Pune.

JLL noted this strong start signals sustained confidence in India’s commercial real estate sector despite evolving hybrid work patterns.

The report also suggests robust demand from sectors like technology, global capability centres, and financial services is supporting long-term office space growth across metro markets.

Source: Press Trust of India

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