Bengaluru Leads India's Office Leasing Surge with 56% YoY Growth

Bengaluru's office space absorption reaches 16.4 million sq ft in 2024, driven by technology and flexible space sectors.

Bengaluru accounted for 30% of India's total office leasing from January to September 2024, with a significant 56% year-on-year increase.
Technology, e-commerce, and flexible space operators were key drivers of Bengaluru's office leasing market.
The city also recorded the second-highest housing sales in India, with 14,604 units sold in Q3 2024, marking an 11% increase from the previous year.
Mumbai led residential sales across the top eight cities in Q3 2024, with 24,222 units sold, a 9% year-on-year growth.
India's office leasing is projected to reach a record high of approximately 70 million sq ft in 2024, with strong demand from both global and domestic occupiers.