Office leasing hits 66.7M sq ft in 9M 2026; GCCs take 41%
Summary
Knight Frank India reports 66.7M sq ft of office leasing across eight cities in the first nine months, flat on last year, but the mix of demand is shifting.
Key points
- GCCs took 41% of deals, up from 37% last year and 31% in 2024.
- Bengaluru led with 16.7M sq ft (25%); Hyderabad was second at 13.1M, with Q3 alone up 92% to 5.6M.
- Flex operators were the second-largest segment at 16.1M sq ft (24%).
- Rents rose in all eight cities: Kolkata 13%, NCR 12%, Hyderabad 9%, Ahmedabad lowest at 3%.
- New supply jumped to 48.6M sq ft from 32.5M a year earlier.
What it means for Korean companiesExpect tougher renewals in Delhi NCR where rents rose fastest; Ahmedabad remains the low-cost option.