Indian office space demand rises, occupied stock up 7% to 917 mn sq ft

India's occupied office space grew 7% YoY to 917.7 million sq ft by September 2026, per Knight Frank. Bengaluru leads the market, while Pune crossed the 100 million sq ft milestone. Hyderabad recorded the fastest growth among the eight major cities.

India's occupied office space across eight major cities grew 7 per cent year-on-year to 917.7 million square feet as of September 2026, reflecting continued expansion in commercial real estate demand, according to property consultancy Knight Frank India.

In its latest office market data release, Knight Frank said occupied office stock increased by 58.3 million square feet from 859.4 million square feet in September 2025, with Bengaluru retaining its position as the country's largest office market and Pune crossing the 100 million square feet milestone. The growth indicates continued expansion in office space occupied by businesses, although the pace varied across cities, with Hyderabad recording the strongest growth and the National Capital Region (NCR) witnessing the slowest.

"India's office markets continue to demonstrate resilience, supported by business expansion and the evolving workplace requirements of occupiers," said Viral Desai, International Partner and Senior Executive Director at Knight Frank India.

City-Wise Market Performance

Bengaluru's occupied office stock rose 9 per cent to 227.9 million square feet from 208.3 million square feet a year earlier, maintaining its lead among the eight markets. NCR remained the second-largest market at 178.3 million square feet, although its growth was limited to 2 per cent. Mumbai followed with 148.2 million square feet, registering a 5 per cent increase.

Hyderabad recorded the fastest expansion among the eight cities, with occupied stock rising 11 per cent to 119.8 million square feet. Meanwhile, Pune emerged as the fifth city to cross 100 million square feet of occupied office stock, reaching 101 million square feet compared with 92.4 million square feet a year earlier, marking a 9 per cent increase.

Desai said, "Pune crossing 100 million sq ft of occupied office stock is an important milestone for the market, reflecting its growing scale as a commercial real estate destination."

Among smaller markets, Ahmedabad registered 10 per cent growth to 28 million square feet, while Kolkata's occupied stock increased 9 per cent to 25 million square feet. Chennai recorded a 5 per cent increase to 89.5 million square feet.

The findings highlight the continued expansion of India's commercial office market, with growth extending beyond traditional business hubs, although the pace of expansion remains uneven across cities. (ANI)

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