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Time of India
03-07-2025
- Business
- Time of India
Office market sees 40% surge in net leasing across top seven cities in H1 2025: Anarock
NEW DELHI: India's commercial real estate sector witnessed a robust rebound in the first half of 2025, with net office leasing across the top seven cities surging by 40% year-on-year to approximately 26.8 million sq ft, according to Anarock Research. The previous year's comparable figure stood at 19.08 million sq ft. Bengaluru emerged as the top-performing city, clocking 6.55 million sq ft of net absorption, up 64% from 4 million sq ft in H1 2024. Pune recorded the steepest year-on-year growth in leasing volumes — a 188% jump to 3.8 million sq ft, up from 1.32 million sq ft a year earlier. In contrast, Kolkata was the only market to post a decline, with net office leasing falling 51% to 0.45 million sq ft. New office completions across these key markets also saw healthy growth, rising 25% year-on-year to nearly 24.51 million sq ft from 19.65 million sq ft in H1 2024. Bengaluru again led with 6.91 million sq ft of new supply, followed by Hyderabad at 4.7 million sq. ft. Notably, Pune saw a staggering 533% increase in new supply—from 0.9 million sq ft to 5.7 million sq ft. Despite the supply uptick, average office vacancy rates declined slightly to 16.3%, from 16.7% a year ago. However, Hyderabad remained the city with the highest vacancy rate, inching up to 26.6%. 'The office real estate market was clearly ahead of its residential counterpart in H1 2025,' said Peush Jain, managing director (Commercial Leasing & Advisory) of the company said. 'Both net absorption and new completions registered high growth, underscoring India's macroeconomic strength and strong occupier interest.' Average office rentals inched up 5% to ₹88 per sq ft per month, with Chennai leading the rental growth at 6%, followed by Bengaluru and NCR, which recorded 5% increases each. IT/ITeS firms remained the dominant occupiers, contributing 29% of total leasing, followed by co-working operators (22%) and the BFSI sector (18%). The consulting and e-commerce sectors also saw marginal upticks in demand share. According to Jain, the steady inflow of leasing from global capability centers (GCCs) and U.S.-based corporations, coupled with India's sustained economic momentum, continues to reinforce the office market's resilience.
Hans India
03-07-2025
- Business
- Hans India
India's office leasing jumps 40 pc in H1 2025, new supply jumps 25 pc: Report
New Delhi: India's commercial real estate market witnessed strong growth in the first half of 2025, with net office leasing across the top seven cities rising by 40 per cent year-on-year (YoY), a new report said on Thursday. According to data compiled by Anarock Research, net office absorption grew from around 19.08 million sq. ft. in H1 2024 to approximately 26.8 million sq. ft. in H1 2025. New office supply also increased by 25 per cent during the same period, reaching nearly 24.51 million sq. ft. Experts say the strong office market performance reflects India's steady economic growth and its rising global profile as a business destination. Peush Jain, Managing Director, Commercial Leasing & Advisory at Anarock Group, said the country continues to attract large-scale office leasing by global capability centres (GCCs) and US-based corporates. He also noted that India's economic stability stands in contrast to policy uncertainty in the US, making it an increasingly attractive destination for long-term investments. Bengaluru led the leasing activity with around 6.55 million sq. ft. of office space absorbed in H1 2025 -- a 64 per cent increase compared to 4 million sq. ft. in the same period previous year. Pune stood out with the highest annual growth in net absorption, soaring by 188 per cent to 3.8 million sq. ft., up from 1.32 million sq. ft. the previous year. Kolkata, however, was the only city among the top seven to see a decline in leasing, dropping 51 per cent to just 0.45 million sq. ft. In terms of new office space completions, Bengaluru again took the lead by adding approximately 6.91 million sq. ft. in H1 2025, a 26 per cent rise from the previous year. Pune posted an exceptional 533 per cent jump in new supply, going from just 0.9 million sq. ft. in H1 2024 to over 5.7 million sq. ft. this year, the report stated. Sector-wise, the IT/ITeS sector continued to drive demand, accounting for 29 per cent of overall office leasing. This was followed by the coworking sector at 22 per cent and BFSI at 18 per cent.
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Business Standard
03-07-2025
- Business
- Business Standard
Office leasing up 40% in H1 2025, Bengaluru, Pune lead demand: Anarock
India's net office leasing rose 40 per cent year-on-year (Y-o-Y) in the first half of 2025, reaching 26.8 million square feet, up from 19.08 million square feet in H1 2024, according to a report by real estate consultancy firm Anarock. Among the top seven cities, Bengaluru recorded the highest net office absorption at 6.55 million square feet in H1 2025, up from 4 million square feet a year ago—a 64 per cent increase. Pune saw the sharpest growth, rising 188 per cent to 3.8 million square feet from 1.32 million square feet in the same period last year. Bengaluru leads new office supply; Pune sees highest jump New office completions in the top seven cities increased 25 per cent year-on-year, from 19.65 million square feet in H1 2024 to 24.51 million square feet in H1 2025. Bengaluru once again led the market in terms of new supply, with 6.91 million square feet added—up 26 per cent from 5.5 million square feet last year. Pune saw the highest percentage jump, recording a 533 per cent rise in new office supply—from just 0.9 million square feet in H1 2024 to over 5.7 million square feet in H1 2025. In contrast, Mumbai Metropolitan Region (MMR) and Hyderabad recorded year-on-year declines in new supply. MMR added 1.9 million square feet, down 45 per cent from 3.47 million square feet in H1 2024. Hyderabad saw a 17 per cent dip, with new completions totalling 4.7 million square feet. GCCs, IT, and coworking firms drive demand Peush Jain, managing director – commercial leasing and advisory, Anarock Group, said, 'The office real estate market was ahead of its residential counterpart in H1 2025. Both net absorption and new office completions saw high growth, largely because of India's enduring economic strength. Also, overall office leasing by global capability centres (GCCs) across cities continues to grow in 2025, and large US-based corporates continue to lease large spaces across Indian cities.' IT/ITeS firms dominated leasing with a 29 per cent share, followed by coworking at 22 per cent and BFSI at 18 per cent. Consultancy and e-commerce sectors also saw a 1 per cent increase in demand share compared to H1 2024, while manufacturing and industrial sectors declined. Vacancy drops, rentals inch up The average office vacancy rate across the top seven cities fell to 16.3 per cent in H1 2025. However, MMR and Hyderabad recorded higher vacancy levels, with Hyderabad continuing to have the highest at 26.6 per cent. Average monthly office rentals rose by 5 per cent from ₹84/sq. ft. in H1 2024 to ₹88/sq. ft. in H1 2025. Chennai led rental growth among cities, with a 6 per cent year-on-year increase.
Time of India
26-05-2025
- Business
- Time of India
Office rent rises 28 pc in MMR, 24% in Hyderabad, 20% in Delhi-NCR in past 2.5 years: Anarock
Office rents in Mumbai surged 28% in the last 2.5 years, driven by high demand for premium spaces despite global economic uncertainties. Major metros like Delhi-NCR and Hyderabad also saw significant rental growth, fueled by a post-pandemic rebound and a push for return to office. Notably, US companies are major drivers of office space leasing in India. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Office rent grew 28 per cent in Mumbai Metropolitan Region in the last two and a half years on higher demand for prime workspaces despite global economic uncertainties, according to its report, real estate consultant Anarock said that rental values are showing healthy growth across major metros as businesses push harder for a full-fledged return to office life."Notably, the US, which is seeing considerable business policy uncertainty, accounts for 45 per cent of total office space leasing in India - ahead of all other countries," said Peush Jain, MD - Commercial Leasing & Advisory at Anarock Mumbai, he said, US-based banks contribute as much as 48 per cent of BFSI leasing."American companies' appetite for prime Indian Grade A office spaces remains undiminished," Jain 2022 to 2025, a powerful post-pandemic rebound has fuelled consistent and growing demand for premium workspaces - especially in hotspots like MMR, Delhi-NCR, and Hyderabad, the consultant MMR, the average monthly office rent has risen to Rs 168 per square feet from Rs 131 per square feet in has registered a 20 per cent growth in rent from Rs 92 to Rs 110 per sq saw a growth in office rental values of 24.1 per cent to Rs 72 from Rs 58 per square rent in Bengaluru rose 16 per cent to Rs 95 per sq ft from Rs 82 in and Chennai markets showed only moderate rental growth of 11.1 per cent and 9.1 per cent, respectively. The office rent in Pune is Rs 80 per sq ft and in Chennai Rs 72 per square on the data, Shesh Rao Paplikar, Founder & CEO of BHIVE workspaces, said, "The 16 per cent increase in office rentals in Bengaluru signals a resilient rebound in commercial real estate , driven primarily by strong demand from technology, GCCs (Global Capability Centers), and flexible workspace providers."This rental surge reflects rising confidence in India's talent ecosystems, infrastructure upgrades, and return-to-office mandates, he Chilukuri, Founder & MD of Stonecraft Group, said, "The surge in office rentals across India's major cities signals a renewed business confidence and a decisive shift toward future-ready workspaces. Hyderabad's impressive 24 per cent growth highlights its transformation into a go-to hub for tech and innovation-driven enterprises, backed by strong infrastructure and a dynamic talent pool."
Time of India
24-05-2025
- Business
- Time of India
Top six cities sees average growth of 18% in office space rents in three years
NEW DELHI: India's top six cities have recorded an average rental growth of 18.35% between 2022 and 2025 for office spaces, according to Anarock data. Mumbai Metropolitan Region (MMR) office rental values have surged by 28% from ₹131 per sq ft in 2022 to ₹168 in 2025, outpacing other top metro markets. Hyderabad emerged as the second-fastest growing rental market boosted by a strong IT corridor, cost competitiveness, and investor-friendly policies. The post-pandemic revival, supported by a sustained return-to-office movement and strong demand from Global Capability Centres (GCCs), tech firms, and BFSI players, has fueled robust growth in rental values across key business hubs. 'Notably the US, which is seeing considerable business policy uncertainty, accounts for 45% of total office space leasing in India – ahead of all other countries,' says Peush Jain, MD - Commercial Leasing & Advisory, Anarock Group. 'GCCs have become the single-biggest transformation driver on India's office leasing landscape. Our data shows that in Q1 2025 alone, GCCs leased a staggering 8.35 million sq ft, with Delhi-NCR capturing close to 23% of that demand. Over the past two years, they have accounted for over 37% of all office leasing across the top seven cities," said Jain Rental growth across six cities (2022–2025) MMR: Office rental values in the Mumbai Metropolitan Region rose 28%, from ₹131 to ₹168 per sq ft, making it the most expensive commercial market in India. Hyderabad: Rentals surged by 24.1%, climbing from ₹59 to ₹72 per sq ft, driven by a booming IT corridor and pro-investor policies. Delhi NCR: The region saw a 20% increase in rentals, from ₹92 to ₹110 per sq ft, supported by infrastructure growth in Noida and Gurugram. Bengaluru: Office rents grew 15.8%, with values rising from ₹101 to ₹117 per sq ft, fuelled by consistent tech sector demand. Pune: Rentals rose 11.1%, from ₹81 to ₹90 per sq ft, reflecting steady demand in IT and industrial zones. Chennai: The city registered a more measured 9.1% growth, with rentals moving from ₹77 to ₹84 per sq ft, indicating stable absorption in key business districts. The future of work in India is not remote but reimagined. The hybrid work model has matured - not as a shift away from offices, but as a strategic blend of physical and flexible spaces. This evolution has ensured a strong leasing pipeline, particularly in tech parks, co-working hubs, and Jain, Anarock Group The consistent rise in rentals, particularly in cities with controlled capital value growth like Hyderabad and Delhi NCR, has led to improved rental yields. With REITs gaining investor traction and absorption levels surpassing pre-COVID benchmarks, investor sentiment remains bullish.
