Mumbai, 27 July 2026: According to Knight Frank India, large office space transactions – area 100,000 sq ft and above – continued to anchor India’s commercial office market during H1 2026, accounting for 28.2 mn sq ft of leasing activity across the eight leading cities. Large office transactions contributed 59% of the total office leasing volume of 48.0 mn sq ft, underscoring the continued preference of large occupiers for Grade A office assets.
Bengaluru retained its position as India’s largest office leasing market, recording 10.1 mn sq ft of transactions in spaces exceeding 100,000 sq ft during H1 2026. These large-format deals accounted for 72% of the city’s total office leasing activity, underscoring its continued appeal among large corporates and Global Capability Centres (GCCs), despite a moderation from the exceptionally strong levels seen in H1 2025. Hyderabad and NCR followed, each registering 4.9 mn sq ft of large office leasing, with such transactions contributing 65% and 68% of their respective cities total office absorption. Mumbai also maintained healthy momentum, recording 3.1 mn sq ft of large office leasing, which represented 42% of the city’s overall office transactions.
Among the major office markets, Hyderabad emerged as the fastest-growing destination for large office occupiers. Leasing of spaces above 100,000 sq ft increased by 63% YoY, rising from 3.0 mn sq ft in H1 2025 to 4.9 mn sq ft in H1 2026. As a result, the share of large office transactions in the city’s overall leasing activity expanded from 51% to 65%, reflecting strengthening demand from GCCs and other large enterprises seeking high-quality office campuses.
Share of area transacted across office size categories in H1 2026
| Cities | Transaction | Office Space Categories | |||||
| (in mn sq ft) | (Share of total Transactions in %) | ||||||
| <50k
sq ft |
>=50k<=100k
sq ft |
>100k
sq ft |
Total | <50k
sq ft |
>=50k<=100k
sq ft |
>100k
sq ft |
|
| Ahmedabad | 0.5 | 0.3 | – | 0.8 | 67% | 33% | 0% |
| Bengaluru | 1.7 | 2.3 | 10.1 | 14.1 | 12% | 16% | 72% |
| Chennai | 1.3 | 1.2 | 1.1 | 3.6 | 36% | 32% | 31% |
| Hyderabad | 1.2 | 1.4 | 4.9 | 7.5 | 16% | 19% | 65% |
| Kolkata | 0.3 | 0.2 | 0.3 | 0.8 | 40% | 22% | 38% |
| Mumbai | 2.5 | 1.7 | 3.1 | 7.3 | 34% | 24% | 42% |
| NCR | 1.5 | 0.8 | 4.9 | 7.2 | 21% | 11% | 68% |
| Pune | 1.6 | 1.2 | 3.8 | 6.6 | 25% | 18% | 57% |
| All cities | 10.8 | 9.0 | 28.2 | 48.0 | 22% | 19% | 59% |
Source: Knight Frank Research
Viral Desai, International Partner, Senior Executive Director – Occupier Strategy & Solutions, Industrial & Logistics, Capital Markets & Retail Agency, Knight Frank India, said “India’s office market continues to witness strong demand from large occupiers, particularly Global Capability Centres, technology companies and multinational corporations expanding their operations. While overall office leasing has remained resilient, markets such as Hyderabad, NCR, Mumbai and Pune have increased the share of large office transactions, reflecting occupiers’ growing preference for high-quality, future-ready office assets. The sustained dominance of large office leasing reinforces India’s position as a leading global business destination.”
Office leasing in the mid-sized segment, or spaces between 50,000 sq ft and 100,000 sq ft stood at 9.0 mn sq ft during H1 2026, accounting for 19% of overall office transactions. Bengaluru recorded the highest leasing volume in this category at 2.3 mn sq ft, followed by Mumbai (1.7 mn sq ft) and Hyderabad (1.4 mn sq ft).
Meanwhile, office space leasing in smaller office spaces, or spaces below 50,000 sq ft totalled 10.8 mn sq ft, contributing 22% of overall leasing activity during the period. Mumbai led this segment with 2.5 mn sq ft of transactions, followed by Bengaluru (1.7 mn sq ft), Pune (1.6 mn sq ft) and NCR (1.5 mn sq ft).
About Knight Frank
Knight Frank LLP is a leading independent, global property consultancy. Headquartered in London, Knight Frank has 20,000+ people operating from over 600+ offices across more than 50 territories. The Group advises clients ranging from individual owners and buyers to major developers, investors, and corporate tenants. For further information about the Company, please visit www.knightfrank.com
Knight Frank India is headquartered in Mumbai and has more than 1,900 experts across Bangalore, Delhi, Pune, Hyderabad, Chennai, Kolkata, Ahmedabad, Indore and Kochi. Backed by strong research and analytics, our experts offer a comprehensive range of real estate services across advisory, valuation and consulting, transactions (residential, commercial, retail, hospitality, land, and capitals), facilities management and project management. For more information, visit www.knightfrank.co.in
