Hyderabad: India’s commercial real estate market has crossed a historic threshold, with occupied office stock reaching 901.1 million sq ft as of June 30, 2026, out of a total office stock of a little over 1 billion sq ft, according to Knight Frank India.The figure marks a 6% year-on-year rise from 847.0 million sq ft in the first half of 2025, reflecting sustained occupier confidence and business expansion across the country’s eight leading office markets, it said.Bengaluru remains India’s largest office market, with occupied stock of 222.4 million sq ft in H1 2026, clocking an 8% annual growth, followed by Delhi National Capital Region at 178.1 million sq ft with a 2% growth. Mumbai’s occupied office stock rose 5% to 146.6 million sq ft, while Hyderabad expanded 8% to 114.3 million sq ft.Among markets with below 100 million sq ft occupancy, Pune has emerged as a key growth centre, rising 10% year-on-year to 98.8 million sq ft and moving closer to the 100 million sq ft mark.Chennai recorded 6% growth, reaching 88.9 million sq ft, while Ahmedabad posted the highest percentage growth among tracked cities, with occupied stock up 9% to 27.5 million sq ft.Kolkata registered 24.4 million sq ft, reflecting 6% year-on-year growth.Knight Frank said the data highlights broad-based absorption across both mature hubs and emerging office destinations and the high occupancy rates point to the depth of institutional-grade supply available to companies expanding operations.It said demand continues to be driven by global capability centres (GCCs), technology firms, domestic enterprises and occupiers seeking established markets with talent, infrastructure and scale.“GCC expansion, alongside the growing footprint of domestic enterprises, continues to underpin office demand, with occupiers increasingly gravitating towards established markets that offer access to talent, quality infrastructure and scale,” said Viral Desai, international partner and senior executive director, occupier strategy solutions, industrial & logistics, capital markets & retail, Knight Frank India.
