India Office Market Growth 2026: Integrated Tech Parks to Drive Majority of Supply
New Delhi, March 18: Integrated technology parks are set to dominate India’s office real estate landscape, with nearly 65 to 68 per cent of the projected office supply in 2026-27 expected to come from these developments, according to a report released on Wednesday.This marks a significant rise from the 54 to 58 per cent share recorded in 2024-25, reflecting a clear shift in developer strategy toward large, integrated office ecosystems. The report also highlighted that India’s total office stock is likely to cross the 1 billion square feet milestone in 2026.
2025 Emerges as Record Year for Office Leasing and Supply
The report identified 2025 as the strongest year for India’s office market in terms of both leasing activity and new supply.Key highlights:
- Gross absorption reached a record 83.1 million square feet for the third consecutive year
- New office supply touched an all-time high of 58.9 million square feet
- Supply increased 10 per cent year-on-year
Top Cities Lead Office Leasing Activity
Leasing activity remained concentrated in key metropolitan markets. Bengaluru, Mumbai, Delhi-NCR, and Hyderabad together accounted for nearly three-fourths of total leasing in 2025.These cities also played a crucial role in the expansion of Global Capability Centres (GCCs), contributing 69 per cent of total GCC leasing during the year.
GCCs Drive Demand with Strong Expansion Plans
Global Capability Centres continued to be a major demand driver in India’s office market.- GCCs accounted for about 39 per cent of total office absorption in 2025
- Total leasing by GCCs stood at 32.8 million square feet
Notably, R&D-focused GCCs have grown 1.3 times faster than overall GCC setups in India since 2020, signaling a shift toward more advanced capabilities.
Integrated Tech Parks Gain Preference Among Occupiers
The increasing share of supply from integrated tech parks reflects evolving occupier preferences for high-quality, amenity-rich office environments.According to the report, around 65 per cent of GCC occupiers expect to expand their office portfolios by at least 10 per cent by 2027, reinforcing strong demand for integrated developments.
The trend highlights the growing importance of premium office infrastructure in attracting and retaining skilled talent, especially as companies scale up advanced operations in India.
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