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Global corporations continued to anchor India's office leasing market in 2025, accounting for close to 60 per cent of total absorption across the country's seven key cities, according to JLL India. Overall office leasing rose by eight per cent year-on-year to 83.3 million sq ft, reflecting sustained expansion by multinational companies and Global Capability Centres (GCCs). Foreign firms alone leased nearly 48.6 million sq ft, with GCCs emerging as the dominant demand driver. Bengaluru remained the most preferred destination for overseas occupiers, supported by a deep talent pool and availability of Grade A office stock. Domestic firms also remained active, while flexible workspace operators increased leasing amid rising preference for managed office solutions.
Global companies played a decisive role in driving office space demand in India during 2025, leasing nearly 60 per cent of the total area absorbed across the country's seven major office markets, according to data released by real estate consultancy JLL India. Gross leasing across Mumbai, Bengaluru, Delhi-NCR, Pune, Hyderabad, Chennai and Kolkata increased by eight per cent to 83.3 million sq ft, compared with 77.2 million sq ft in the previous year. Advertisement
Foreign occupiers accounted for approximately 48.6 million sq ft of leasing activity, representing 58 per cent of total demand. A significant share of this absorption came from Global Capability Centres, which alone leased around 31.4 million sq ft during the year. JLL attributed the sustained interest from multinational firms to India's availability of skilled, English-speaking talent, competitive rentals and the growing supply of premium office space.
Rahul Arora, who heads office leasing and retail services at JLL India for Karnataka and Kerala, said GCCs had firmly established themselves as the dominant force in the country's office leasing market during 2025. These centres are increasingly being used by global companies to support technology, research, finance and back-office operations at scale.
Bengaluru continued to emerge as the most favoured destination for foreign firms expanding their Indian footprint, benefiting from its mature office ecosystem, strong talent base and large stock of Grade A commercial developments. Other key markets such as Hyderabad, Pune and Delhi-NCR also witnessed steady absorption, supported by diversified occupier demand.
Domestic companies leased around 34.7 million sq ft of office space during the year, accounting for 42 per cent of overall absorption. While this marked a smaller share compared to global occupiers, Indian firms remained active across sectors including technology, manufacturing and services.
Coworking and flexible workspace operators also maintained a strong presence in the leasing market, driven by rising demand for managed offices. Industry executives noted that global occupiers are increasingly seeking future-ready workplace environments that meet sustainability goals, talent expectations and operational flexibility. The continued expansion of flexible and managed office formats was also seen as a reflection of India's broader economic growth and its cost advantage as an office destination.
Source - PTI
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