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Foreign firms drive record office space leasing in India’s top cities

#Taxation & Finance News#India
Last Updated : 7th Apr, 2026
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Synopsis

Foreign firms drove India's office leasing to record levels in the January-March quarter, with 9.1 million sq ft leased for Global Capability Centres, marking the highest quarterly figure ever. Total gross leasing across the nine top cities rose 5 per cent to 20.7 million sq ft. Demand spans multiple sectors, including technology, BFSI, and e-commerce, and is led by both Fortune 500 companies and smaller GCCs. American companies contributed 73 per cent of leasing. Bengaluru, Delhi-NCR, and Mumbai together accounted for 67 per cent of total leasing, and demand is expected to remain strong through 2026.

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Foreign companies leased a record 9.1 million sq ft of office space across India's top nine cities in the January-March quarter, primarily to set up Global Capability Centres (GCCs), according to real estate consultancy CBRE. The total gross leasing of office space during the period rose 5 per cent to 20.7 million sq ft from 19.7 million sq ft in the same period last year. The cities covered in the report include Mumbai, Delhi-NCR, Bengaluru, Hyderabad, Chennai, Pune, Kolkata, Ahmedabad, and Kochi.


CBRE highlighted that the record leasing for GCCs indicates India's growing prominence as a preferred global destination for high-complexity business functions. This demand is spread across multiple sectors, including e-commerce, technology, and banking, financial services, and insurance (BFSI). Both established Fortune 500 companies and emerging mid-market and nano GCCs are contributing to this growth.

American firms alone accounted for 73 per cent of the GCC-related leasing. Companies are increasingly selecting green-certified offices with modern amenities. Occupiers are also aligning their workspaces with AI-ready strategies, turning GCCs into multi-functional innovation hubs.

Among the top cities, Bengaluru led office leasing with a 29 per cent share, followed by Delhi-NCR at 22 per cent and Mumbai at 16 per cent. Together, these three cities contributed around 67 per cent of total leasing across the nine cities during the first quarter. CBRE expects leasing activity to continue strong through 2026, supported by evolving workplace strategies and expansion of GCCs.

Source PTI
Next (Bank of Maharashtra reports 22% credit growth, total business rises to INR 6.42 lakh crore)

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