Hyderabad remained India’s second-largest office leasing market, with companies leasing 9.4 million sq ft of office space from January to September 2026, according to a Colliers report. Leasing in the city rose 47% year on year, behind only Bengaluru.
India recorded 54.4 million sq ft of Grade A office leasing during the first nine months of 2026, up 7% from the same period last year. The third quarter alone saw a record 18.7 million sq ft, a 9% year-on-year increase.
Bengaluru led the city rankings with 15.7 million sq ft leased, followed by Hyderabad at 9.4 million sq ft and Delhi-NCR at 8.3 million sq ft. Mumbai recorded 7.1 million sq ft, Pune 6.9 million sq ft, Chennai 6 million sq ft and Kolkata 1 million sq ft.
Demand in Hyderabad was driven by global capability centres (GCCs), technology companies and flexible office operators, which together accounted for a large share of leasing activity. The city also recorded the country’s highest new office supply in the third quarter, adding 6.7 million sq ft—about 35% of the national quarterly total.
Colliers said India’s full-year Grade A office leasing could reach 75 million to 80 million sq ft if the current pace continues. Hyderabad’s overall office vacancy stood at 16%, alongside rising rentals.
