Data from US real estate consultant Vestian showed that new office space supply was the highest in Pune at 3.70 million sq ft in the July-September period, up 164 per cent from the year-ago period.
In Delhi-NCR, new office supply increased by 35 percent to 3.10 million square feet.
New office space supply in Chennai rose 320 percent to 2.1 million sq ft, while supply in Mumbai doubled to 1.80 million sq ft.
However, Bengaluru, India’s largest office market, witnessed a 6 percent decline in new office supply to 3.40 million square feet.
In Hyderabad too, new supply fell by 51 percent to 2 million square feet in the July-September period of this calendar year.
Interestingly, Kolkata, the seventh major city tracked by Vestian, saw no new office space supply in the last quarter of September.
Vestian CEO Shrinivas Rao said: “The third quarter of 2025 reported the highest absorption of the current year, mainly driven by GCCs (global capacity centres). This robust demand kept the office market buoyant amid global trade uncertainties and geopolitical tensions.” He noted that construction activity also accelerated, with significant supply expansions in key markets.
“Robust absorption, healthy supply and a diversified user base are expected to drive the next wave of growth in the coming quarters. H-1B visa restrictions may further increase demand for offices in India as more and more GCCs expand their footprint in India,” Rao said.
According to Vestian, office space leasing or absorption increased by 6 percent to 19.69 million square meters in seven major cities in the country in the period July-September 2025.
Major developers building office spaces include DLF Ltd, Tata Realty & Infrastructure, Hiranandani Group, Embassy Group, Prestige Estates, Sattva Group and RMZ Group.
There are four listed Real Estate Investment Trusts (REITs) that are supported by rental income from office assets. They have a huge portfolio of office properties and are also expanding through both greenfield and brownfield routes.
The four listed REITs are Sattva-Blackstone-backed Knowledge Realty Trust, Embassy Office Parks REIT, K Raheja-backed Mindspace Business Parks REIT and Brookfield India Real Estate Trust.
Published on November 9, 2025
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