Now Reading: Office net leasing dips 20% in top eight cities, gross leasing up 1%
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Office net leasing dips 20% in top eight cities, gross leasing up 1%
Office net leasing dips 20% in top eight cities, gross leasing up 1%
Net office leasing across India’s top eight cities fell 20% year-on-year to 36.7 million sq ft in the January-September 2026 period, according to data released by Cushman & Wakefield on 10 October. The decline was attributed to limited fresh supply of quality workspace and a high base effect. Gross leasing, however, rose 1% to a record 64.6 million sq ft, driven by demand from Global Capability Centres.
Net absorption increased 26% quarter-on-quarter in the July-September quarter to 14.1 million sq ft, but was down 18% from the same quarter a year ago. Bengaluru, Hyderabad, and Ahmedabad saw net leasing rise, while Mumbai, Delhi-NCR, Pune, Chennai, and Kolkata recorded declines. GCCs leased 9.1 million sq ft in Q3, accounting for 42% of total quarterly gross leasing volume.
Indian Opinion Analysis
All three outlets carried Cushman & Wakefield’s data with neutral reporting. Rediff.com led with the 20% net leasing drop and noted supply constraints, while dtnext.in led with the 26% quarterly net absorption surge, framing the market as strong. The Economic Times covered a separate Savills report on industrial and warehousing leasing, not the same story. The different entry points reflect editorial choice, not disagreement: the first nine months show a net dip, but the quarterly trend and gross leasing both indicate continued occupier demand. GCCs and the September quarter completion pipeline are the concrete drivers to watch.
Coverage: 3 sources, 3 neutral
Sources (3): rediff.com (neutral report), economictimes.indiatimes.com (neutral report), dtnext.in (neutral report)
This brief was synthesised by AI from the 3 sources linked above, so one read covers every framing they carry. Methodology and corrections.
