Large office space transactions of 100,000 sq ft and above anchored India’s commercial office market during H1 2026, accounting for 28.2 mn sq ft of leasing activity, according to the report
Large office space transactions of 100,000 sq ft and above anchored India’s commercial office market during H1 2026, accounting for 28.2 mn sq ft of leasing activity across the eight leading cities, according to a report released by Knight Frank India. The report stated that Bengaluru and Hyderabad had the highest leasing activity due to leasing by Global Capability Centres (GCCs) among India’s eight cities.
The eight cities include Bengaluru, Hyderabad, Delhi NCR, Mumbai, Pune, Kolkata, Chennai, Ahmedabad. The report said that large office transactions contributed 59% of the total office leasing volume of 48.0 mn sq ft, underscoring the continued preference of large occupiers for Grade A office assets.
Bengaluru retained its position as India’s largest office leasing market, recording 10.1 mn sq ft of transactions in spaces exceeding 100,000 sq ft during H1 2026. These large-format deals accounted for 72% of the city’s total office leasing activity, underscoring its continued appeal among large corporates and GCCs, despite a moderation from the exceptionally strong levels seen in H1 2025, the report said.
According to the report, Hyderabad and NCR followed, each registering 4.9 mn sq ft of large office leasing, with such transactions contributing 65% and 68% of their respective cities’ total office absorption. Mumbai also maintained healthy momentum, recording 3.1 mn sq ft of large office leasing, which represented 42% of the city’s overall office transactions.
Hyderabad is fastest growing
Among the major office markets, Hyderabad emerged as the fastest-growing destination for large office occupiers. Leasing of spaces above 100,000 sq ft increased by 63% YoY, rising from 3.0 mn sq ft in H1 2025 to 4.9 mn sq ft in H1 2026. As a result, the share of large office transactions in the city’s overall leasing activity expanded from 51% to 65%, reflecting strengthening demand from GCCs and other large enterprises seeking high-quality office campuses.
“India’s office market continues to witness strong demand from large occupiers, particularly GCCs, technology companies and multinational corporations expanding their operations. While overall office leasing has remained resilient, markets such as Hyderabad, NCR, Mumbai and Pune have increased the share of large office transactions, reflecting occupiers’ growing preference for high-quality, future-ready office assets. The sustained dominance of large office leasing reinforces India’s position as a leading global business destination, said Viral Desai, International Partner, Senior Executive Director, Knight Frank India.
The report said that office leasing in the mid-sized segment, or spaces between 50,000 sq ft and 100,000 sq ft stood at 9.0 mn sq ft during H1 2026, accounting for 19% of overall office transactions. Bengaluru recorded the highest leasing volume in this category at 2.3 mn sq ft, followed by Mumbai (1.7 mn sq ft) and Hyderabad (1.4 mn sq ft).
Meanwhile, office space leasing in smaller office spaces, or spaces below 50,000 sq ft totalled 10.8 mn sq ft, contributing 22% of overall leasing activity during the period. Mumbai led this segment with 2.5 mn sq ft of transactions, followed by Bengaluru (1.7 mn sq ft), Pune (1.6 mn sq ft) and NCR (1.5 mn sq ft).
