India office leasing holds steady at 66.7 million sq ft in nine months

India's office leasing market maintained stable momentum through the first nine months of 2026, with cumulative transactions reaching 66.7 million square feet, according to commercial real estate data. The resilience reflects sustained demand from multinational corporations establishing or expanding their operations in the country.

Global capability centres led the charge, accounting for 41 per cent of office transactions during the period. These centres, which provide specialised services ranging from technology development to finance and back-office operations, have become the primary growth engine for India's office sector. Their significant share underscores the country's position as a preferred destination for international businesses seeking skilled talent and cost-effective operations.

Flexible workspace operators secured the second position with a 24 per cent share of leasing activity. The robust performance of flex operators indicates growing preference among companies for adaptable office arrangements that allow for scalability and reduced long-term commitments. This trend reflects broader shifts in corporate real estate strategies, particularly following workplace normalisation after pandemic-related disruptions.

The balanced contribution from both segments suggests a diversified demand base supporting India's office market. While GCCs provide steady, large-scale anchor demand, flex operators cater to companies seeking shorter-term flexibility and emerging enterprises requiring scalable space solutions. Market observers attribute the steady performance to sustained investor confidence in India's economic fundamentals and the country's growing appeal as a global business hub.