Office space leasing in India's top six cities rose 19% to 29.4 million square feet in the first half of 2024. Mumbai and Hyderabad quadrupled office space absorption, with Bengaluru leading at 8.8 million sq ft.

After a cautious first quarter, India's top six cities' office space absorption rose 2 percent to 14.6 million square feet in the second quarter of 2023, up from 14.3 msf in 2022.

The recovery has been so strong that India's Grade A office market across the top seven cities is on track to exceed 1 billion square feet by 2026.

This is surely good news for commercial real estate in India. According to prominent real estate companies, office gross absorption in India's top six cities was over 33 million square feet, a 10% increase over 2020.