New Delhi's central business districts like Connaught Place, Nehru Place, and ITO report a 12% year-on-year surge in office rentals to Rs 1.25 lakh per sq ft annually, driven by GCC expansions, outperforming NCR's 9% average, as per Knight Frank and JLL.
Cushman & Wakefield's MarketBeat report highlights Pune's office sector soaring in Q2 2025, boasting 3.3 MSF gross leasing and a record 2.2 MSF net absorption, fueled by strong demand from engineering and manufacturing industries amid expanding Grade-A supply.
Ahmedabad's office market showed impressive growth in Q2 2025, recording 161,000 square feet in gross leasing, dominated by GIFT City at 70%. The city added 0.8 million SF of new space, with net absorption hitting 3 million SF over the past year, dropping vacancy rates to 26%. Engineering & manufacturing and IT-BPM sectors each claimed 24% of leasing activity, signaling strong economic momentum.
Bengaluru is projected to remain dominant in the commercial real estate market by 2030, driven by sectors like technology, engineering, manufacturing, and BFSI.
Connaught Place in Delhi slips to the 7th most expensive office market globally, according to CBRE. Hong Kong retains the top spot in the rankings.
Jones Lang LaSalle India predicts a 68% increase in office space absorption this year, driven by suburban expansion.