Delhi-NCR Office Leasing Doubles as Corporates Reclaim Workspaces

Office space leasing in Delhi-NCR surged to 2.62 million square feet during April–June 2025, marking a 130 percent jump over the previous quarter, according to Vestian’s latest market report.

Regional Breakdown and Demand Drivers

- Gurugram led the leasing activity, with Noida contributing 27 percent of the total  
- The spike was driven by increased demand from corporates transitioning back to in-office operations  
- Grade-A office projects nearing completion in H2 2025 are expected to further boost absorption  

Pan-India Trends and Comparative Insights

- Across India’s top seven office markets, leasing rose 10 percent to 18.79 million square feet in Q2  
- Bengaluru retained its lead with 5.62 million square feet leased, up 32 percent year-on-year  
- Hyderabad and Chennai saw modest growths of 5 percent and 4 percent respectively  
- Mumbai posted a 2 percent rise, while Pune witnessed a sharp 52 percent decline  

Outlook and Market Sentiment

- The January–June 2025 leasing total reached 36.75 million square feet, a 21 percent increase over last year  
- Vestian projects full-year absorption to exceed 75 million square feet  
- CEO Shrinivas Rao noted rising office utilization ratios and sustained demand for premium workspaces  

Sources: Vestian, Economic Times, Business Standard, Rediff Money, PTI.