India’s total office stock is likely to cross the 1 billion sq ft mark in 2026, underscoring strong momentum in the commercial real estate sector. A significant 65–68% of the projected office supply for 2026–27 is expected to be concentrated in integrated technology parks, highlighting a shift towards investment-grade, campus-style developments, according to a report by CBRE.
The office market saw robust performance in 2025, with both leasing activity and new supply reaching record highs. Annual gross absorption surged to 83.1 million sq ft, marking the third consecutive year of peak demand, while new supply rose to an all-time high of 58.9 million sq ft, up 10% year-on-year, the report said.
Bengaluru, Mumbai, Delhi-NCR, and Hyderabad dominated the market, collectively accounting for nearly three-quarters of total leasing activity, reinforcing their position as key demand drivers for office space in India.
The report also highlighted a growing preference for high-quality developments, with around 45% of upcoming supply in 2026–27 expected to be Grade A assets. Sustainability continues to remain central, with green-certified buildings accounting for 87% of total completions in 2025.
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GCCs contributed 39% of total leasing
Global Capability Centres (GCCs) remained a key occupier segment, contributing about 39% of total leasing, equivalent to 32.8 million sq ft, during 2025. Notably, Bengaluru, Hyderabad and Delhi-NCR together accounted for nearly 69% of GCC leasing activity, reflecting their strong talent ecosystems and infrastructure base.
According to CBRE, GCCs are increasingly focusing on higher-value functions such as research and development and product ownership, with R&D-led centres growing 1.3 times faster than the broader GCC market since 2020. This shift is expected to further drive demand for integrated tech parks that offer scale, flexibility and advanced infrastructure.
Anshuman Magazine, chairman and CEO, India, South-East Asia, Middle East and Africa, CBRE, said that the rise in supply within integrated tech parks reflects a deliberate convergence between developer strategies and the evolving needs of institutional occupiers.
“As global capability centres (GCCs) deepen their mandates into research and development and product ownership, the quality of the real estate ecosystem they operate in becomes a direct input into their ability to attract and retain specialised talent. India is building that ecosystem at scale, and the leasing data confirms that occupiers are responding,” he said.
The report noted that the preference of GCCs for integrated tech park environments has remained consistent, in line with their expansion plans. According to CBRE’s India Office Occupier Survey 2025, approximately 65% of GCC occupiers expect to expand their portfolios by 10% or more by 2027.
“As GCCs deepen their presence in India, the bar is being raised further, with a growing need for infrastructure that can support highly specialised functions, including AI. It is becoming evident that digital infrastructure is now as critical as physical infrastructure and employee experience is a key driver of real estate decisions,” Ram Chandnani, managing director, Leasing, CBRE India, said.
