India Remains Asia Pacific’s Most Cost-Competitive Office Fit-Out Market
New Delhi, March 26 – India continues to strengthen its position as the most cost-competitive office fit-out market in the Asia Pacific region, offering global occupiers a compelling combination of cost efficiency, scale, and quality, according to a new report released on Thursday.Fit-out costs across India’s major office markets ranged between $65 and $73 per square foot, significantly lower than key regional markets such as Tokyo ($215), Sydney ($161), and Singapore ($140), according to Cushman & Wakefield’s ‘Asia Pacific Office Fit Out Cost Guide 2026’.
This further solidifies India’s position as the most economical destination for delivering high-quality, collaborative workplace environments at scale. “India continues to stand out as one of the most cost-competitive fit-out markets in the Asia Pacific, not just on absolute cost benchmarks, but also in terms of consistency across cities and the depth of delivery capability,” explained Shashi Bushan, Executive Managing Director-Project and Development Services (PDS) India, and Lead Occupier-PDS APAC, Cushman & Wakefield.
The country’s cost advantage is further strengthened by the current environment, where global supply chains are adjusting and input costs remain sensitive to energy prices. Prime office net absorption across Asia Pacific’s 27 markets reached 92 million sq ft in 2025, up from 76 million sq ft in 2024, reflecting continued recovery in demand. India accounted for nearly two-thirds of this regional growth.
The total office supply under construction across the Asia Pacific stood at approximately 386 million sq ft at the start of 2026, with around 192 million sq ft concentrated in India’s top eight cities. Mumbai remains the highest-cost market at approximately USD 73 per sq ft, driven by strong demand from multinational corporations, financial institutions, and Global Capability Centres.
| Market | Fit-Out Cost (per sq ft) |
|---|---|
| Tokyo | $215 |
| Sydney | $161 |
| Singapore | $140 |
| India (Major Cities) | $65 - $73 |
| Mumbai | $73 |
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