New Delhi, Dec 24 Net office absorption across India’s top seven cities touched a record high of around 55.16 million square feet in 2025, despite headwinds including IT layoffs and tariff tensions, a report said on Wednesday.
The report from real estate services firm Anarock showed a 10 per cent year‑on‑year rise from roughly 49.95 million sq ft in 2024.
Bengaluru led office leasing with about 14.15 million sq ft but saw a 5 per cent annual decline in net leasing, while Pune posted the strongest growth in net absorption at 63 per cent, rising to about 7.8 million sq ft from 4.8 million sq ft.
Mumbai Metropolitan Region (MMR), Chennai, Hyderabad and Delhi-NCR recorded a jump in net of 15 per cent, 12 per cent, 9 per cent and 7 per cent, respectively.
New office completions across the seven cities rose 8 per cent to about 51.83 million sq ft, with Bengaluru adding approximately 13.5 million sq ft. Pune recorded a massive 103 per cent yearly jump in new office supply to over 10.60 million sq ft, while Kolkata saw the highest 317 per cent percentage jump in completions.
"India's office real estate market veritably boomed in 2025, with net absorption and new completions both surging thanks to the country's robust economic growth," said Peush Jain, MD-Commercial Leasing and Advisory, Anarock Group.
"GCCs are leading the charge, capturing a record 41 per cent share of gross absorption — up from 36 per cent in 2024. Drawn by India's economic strength, stability, and cost advantages, major US corporates are snapping up massive office spaces across our key cities," he added.
IT/ITeS accounted for 27 per cent of leasing, followed by coworking at 23 per cent and BFSI at 18 per cent. Office space vacancies eased to 16.10 per cent from 16.50 per cent, and average monthly rentals rose about 6 per cent to Rs 92 per sq. ft, said the report.
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