Office leasing in 7 cities rises 11 pc in Apr-Jun on strong demand from global-local firms: Colliers

NEW DELHI, June 26:
Gross leasing of office space rose 11 per cent to 178 lakh sq ft across seven major cities during the April-June period on healthy demand from corporates despite global economic uncertainties, according to Colliers.
The gross leasing stood at 161 lakh sq ft in the year-ago period across seven major cities, according to Colliers data released on Thursday.
Real estate consultant Colliers India data showed that demand of workspace increased in six cities — Bengaluru, Chennai, Delhi-NCR, Hyderabad, Kolkata, and Pune.
Leasing activities declined only in Mumbai, it said.
The gross absorption, or leasing, does not include lease renewals, pre-commitments and deals where only a letter of intent has been signed.
“India’s office market continues its upward trajectory in 2025, building on the momentum of the past two years,” said Arpit Mehrotra, Managing Director, Office Services, India, Colliers.
Backed by a diversifying occupier base, a steady supply pipeline and growing investor appetite, he said 2025 is shaping up to be another impressive year for commercial real estate in India.
“Overall, office space demand looks well placed to reach 65-70 million sq ft at least by the end of the year,” Mehrotra projected.
As per the data, leasing activities in Bengaluru remained flat at 48 lakh sq ft in April-June 2025 compared to 48 lakh sq ft in the year-ago period.
In Chennai, the demand increased 30 per cent to 26 lakh sq ft in the second quarter of 2025 from 20 lakh sq ft in the year-ago period.
Leasing of office space rose 16 per cent in Delhi-NCR to 22 lakh sq ft from 19 lakh sq ft.
Hyderabad saw 23 per cent rise in demand to 32 lakh sq ft from 26 lakh sq ft.
In Kolkata, the demand doubled to 6 lakh sq ft from 3 lakh sq ft.
The gross leasing of office space in Pune increased 60 per cent to 16 lakh sq ft from 10 lakh sq ft.
However, the leasing of workspaces fell 20 per cent in Mumbai to 28 lakh sq ft during the period under review from 35 lakh sq ft in the corresponding period of the preceding year.
Of the total 178 lakh sq ft of leasing in the June quarter across all these seven cities, Colliers India noted that 135 lakh sq ft of office spaces were picked up directly by corporates while 43 lakh sq ft spaces were taken by co-working operators, which set up their centres and then sub-lease the areas to end-users.
Commenting on the data, Amal Mishra, Founder and CEO of coworking firm Urban Vault, said, “The demand for office space continues to gain momentum, driven by competitive operating costs and the growing availability of build-to-suit facilities.”
Hanto Workspace Founder Aashit Verma said the demand for office space remains strong from foreign firms, which are looking to set up global capability centres (GCCs). (PTI)

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