India's top six cities record 26% rise in new office supply: Pune leads
- IBEF
- November 11, 2025
India’s top six cities recorded a 26% YoY rise in new office space supply to 16.1 million sq. ft. in Q3 CY25, driven by strong demand for premium workspaces from both global capability centres (GCCs) and domestic firms, according to Vestian. Pune led the surge with 3.7 million sq. ft. of new supply, up 164%, followed by Delhi-NCR at 3.1 million sq. ft. (up 35%), and Chennai, which saw an impressive 320% jump to 2.1 million sq. ft. Mumbai’s new office supply doubled to 1.8 million sq. ft.. In contrast, Bengaluru and Hyderabad saw declines of 6% and 51%, respectively. Kolkata reported no new supply during the period.
Founding member and CEO of Vestian, Mr. Shrinivas Rao, said Q3 CY25 witnessed the highest office space absorption of the year, reaching 19.69 million sq. ft., supported by GCC expansions and healthy developer activity. Strong absorption, diversified occupier demand, and ongoing construction momentum will drive the next growth phase, he said, adding that tighter H-1B visa norms could further boost demand as global firms shift operations to India. Major developers such as DLF Ltd, Tata Realty, Hiranandani, Embassy, Prestige, and Sattva continue to expand capacity, while listed REITs, including Embassy Office Parks REIT, Mindspace Business Parks REIT, Brookfield India REIT, and Sattva-Blackstone’s Knowledge Realty Trust are scaling up through new developments and acquisitions.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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