Ahmedabad records the fastest growth among markets with less than 100 million sq ft of occupied office space, rising 10% year-on-year to 28 million sq ft.
Mumbai: India’s occupied office stock across eight leading commercial real estate markets grew 7% year-on-year to 917.7 million square feet (mn sq ft) as of September 30, 2026, up from 859.4 mn sq ft a year earlier, according to Knight Frank India. The increase of 58.3 mn sq ft reflects continued expansion across the country’s major office markets, with Bengaluru retaining its position as the largest market and Pune crossing the 100 mn sq ft milestone.
Bengaluru recorded the highest occupied office stock at 227.9 mn sq ft, registering 9% annual growth. The National Capital Region (NCR) remained the second-largest market at 178.3 mn sq ft, up 2% year-on-year, while Mumbai’s occupied office stock rose 5% to 148.2 mn sq ft. Hyderabad recorded the strongest growth among markets with more than 100 mn sq ft of occupied office space, with its stock increasing 11% to 119.8 mn sq ft. Pune also registered 9% growth, taking its occupied office stock from 92.4 mn sq ft in September 2025 to 101 mn sq ft in September 2026.
Commenting on the findings, Viral Desai, International Partner and Senior Executive Director, Occupier Strategy Solutions, Industrial & Logistics, Capital Markets & Retail at Knight Frank India, said, “India’s office markets continue to demonstrate resilience, supported by business expansion and the evolving workplace requirements of occupiers. Pune crossing 100 million sq ft of occupied office stock is an important milestone for the market, reflecting its growing scale as a commercial real estate destination. At the same time, sustained growth across Bengaluru, Hyderabad and other leading markets highlights the breadth of office market activity across the country.”
Ahmedabad Leads Growth Among Smaller Office Markets
Ahmedabad recorded the fastest growth among the four markets with occupied office stock below 100 mn sq ft. The city’s occupied office stock increased 10% year-on-year to 28 mn sq ft as of September 30, 2026, compared with 25.5 mn sq ft a year earlier.
Chennai recorded 5% annual growth, taking its occupied office stock to 89.5 mn sq ft from 85.5 mn sq ft. Kolkata registered a 9% increase to 25 mn sq ft, compared with 22.9 mn sq ft in September 2025. The latest figures highlight the continued expansion of India’s commercial office sector across established business centres and emerging markets. While Bengaluru continues to lead in overall scale, Hyderabad’s growth and Pune’s milestone reflect the increasing depth of office markets beyond the country’s largest commercial hubs.
Occupied Office Stock Across India’s Eight Leading Markets
According to Knight Frank India, the occupied office stock across the eight markets as of September 30, 2026, was:
- Bengaluru: 227.9 mn sq ft, up 9% year-on-year
- NCR: 178.3 mn sq ft, up 2%
- Mumbai: 148.2 mn sq ft, up 5%
- Hyderabad: 119.8 mn sq ft, up 11%
- Pune: 101 mn sq ft, up 9%
- Chennai: 89.5 mn sq ft, up 5%
- Ahmedabad: 28 mn sq ft, up 10%
- Kolkata: 25 mn sq ft, up 9%
Together, these markets accounted for 917.7 mn sq ft of occupied office space, representing 7% year-on-year growth.