India’s office market across the top seven cities recorded a strong start to 2026, registering 18.3 million sq ft of leasing activity in Q1 2026, marking a 15% year-on-year growth, according to Colliers India.The momentum was supported by steady occupier demand across sectors and continued expansion of Global Capability Centers (GCCs), despite global uncertainties. Bengaluru and Hyderabad led the space uptake, together accounting for nearly half of the leasing activity, with a combined demand of 8.7 million sq ft. Other key markets such as Mumbai, Pune, Delhi NCR and Chennai also witnessed healthy Grade A leasing in the range of 2-3 million sq ft each. Colliers noted that Hyderabad and Pune saw office demand more than double compared to the same quarter last year.“India’s office demand continues to display strong resilience, with 18.3 million sq ft of Grade A space uptake recorded across the top seven markets in Q1 2026, reflecting a 15% YoY growth. Space uptake from GCCs too has been firm, accounting for almost half of the overall demand,” said Arpit Mehrotra, Managing Director, Office Services, India, Colliers.On the supply side, new completions remained robust at 11.8 million sq ft in Q1 2026, reflecting a 19% YoY increase. Bengaluru contributed nearly 47% of the total new supply, followed by Delhi NCR with a 17% share. Chennai and Mumbai added around 1.5 million sq ft each, contributing 13% of the overall supply additions.Conventional leasing remained strong at 14.4 million sq ft, driven largely by Technology and BFSI occupiers. Together, the two sectors accounted for nearly two-thirds of conventional demand, with cumulative leasing of 9.5 million sq ft. Bengaluru and Mumbai led BFSI leasing, while Technology demand was concentrated in Bengaluru and Hyderabad, which together accounted for more than 60% of the sector’s uptake.Flex space operators recorded a sharp rise in activity, with leasing increasing 77% YoY to nearly 4 million sq ft, accounting for 21% of total leasing during the quarter. Delhi NCR and Hyderabad together contributed over 45% of flex leasing, while cities such as Kolkata and Delhi NCR saw flex operators account for at least 40% of quarterly leasing.“Leasing by flex space operators continued to gain momentum, registering close to 4 million sq ft of Grade A space uptake, around 77% higher than the leasing in corresponding quarter of 2025,” said Vimal Nadar, National Director and Head of Research, Colliers India.With demand continuing to outpace new supply, vacancy levels declined by nearly 90 basis points YoY to 15.3% at the end of Q1 2026. Colliers also noted that average office rentals across the top seven cities increased by around 6% YoY.