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India’s top six cities witnessed a 26% year-on-year growth in new office space supply during the September quarter, driven primarily by robust demand from Global Capability Centres (GCCs). According to a report by US-based real estate consultant Vestian, the total new supply stood at 16.1 million square feet.

Pune emerged as the leader in new office space supply, with 3.7 million square feet added during the July-September period, representing a 164% increase from the same period last year. Delhi-NCR followed closely, with a 35% rise in new office supply to 3.1 million square feet.

The surge in demand from GCCs has been a key driver of India’s office space market, with companies expanding their footprint in the country. Vestian CEO Shrinivas Rao attributed the strong demand to GCCs, stating, “The third quarter of 2025 reported the highest absorption of the current year, primarily driven by GCCs. This robust demand kept the office market buoyant amid global trade uncertainties and geopolitical tensions.” 

Rao further noted that H-1B visa restrictions may amplify demand for offices in India as more GCCs expand their operations. The leasing or absorption of office space rose 6% to 19.69 million square feet during the July-September period across seven major cities.

The strong demand from GCCs is expected to drive the next wave of growth in India’s office space market. Major developers, including DLF Ltd, Tata Realty & Infrastructure, and Hiranandani Group, are constructing office spaces to capitalise on the trend. With a diversified occupier base and healthy supply, India’s office market is poised for continued growth.

Key City Highlights:

– Pune: 3.7 million sq ft of new office space supply, up 164% year-on-year

– Delhi-NCR: 3.1 million sq ft of new office space supply, up 35% year-on-year

– Chennai: 2.1 million sq ft of new office space supply, up 320% year-on-year

– Mumbai: 1.8 million sq ft of new office space supply, doubling from the previous year

– Bengaluru: 3.4 million sq ft of new office space supply, down 6% year-on-year

– Hyderabad: 2 million sq ft of new office space supply, down 51% year-on-year