Office rents climb across India’s gateway markets, Bengaluru leads with 10.7% growth

Synopsis

India's prime office market shows continued strengthening and rising rents. Bengaluru remained a standout performer, while Mumbai and Delhi-NCR also saw healthy momentum. These cities collectively leased 9.8 million square feet in the second quarter. Bengaluru rents rose 10.7% year-on-year, and Delhi-NCR saw a 7.6% increase. Mumbai's prime office rents experienced a 4% year-on-year growth.

India’s prime office market has continued to strengthen, with rising rents reflecting sustained occupier demand and growing competition for quality workspace across the country’s gateway markets. Bengaluru remained the standout performer, while Mumbai and Delhi-NCR also recorded healthy rental momentum, underscoring the resilience of the country’s office market.

Bengaluru, Mumbai and Delhi-NCR collectively leased 9.8 million sq ft in the second quarter, even as volumes moderated from the exceptionally strong levels recorded in 2025, showed data from Knight Frank India. Prime office rents rose 10.7% year-on-year in Bengaluru, 7.6% in Delhi-NCR and 4% in Mumbai.

ET Bureau

ET Bureau

ET Bureau

Source: Knight Frank Research