Office-Space Leasing in Bengaluru Jumps 64% in 2024, Outpaces Major Cities

India’s office-space market witnessed a 19% growth in 2024, with eight major cities collectively absorbing 885.2 lakh square feet, according to Cushman & Wakefield (C&W). Bengaluru led with a record-breaking 259.3 lakh square feet leased, marking a 64% year-on-year surge.

Mumbai followed with a 27% increase to 178.4 lakh square feet, while Hyderabad saw a 37% rise, reaching 123.1 lakh square feet. Ahmedabad recorded an 11% growth at 18.1 lakh square feet.

Meanwhile, Delhi-NCR and Pune lagged, with declines of 3% and 13%, leasing 131.4 lakh and 84.7 lakh square feet, respectively. Kolkata remained flat at 17 lakh square feet.

C&W India’s chief, Anshul Jain, highlighted 2024 as a record year for India’s office market, reaffirming its global prominence. Demand for premium Grade-A spaces is expected to remain strong in 2025.