Mumbai, October 18, 2026: India’s occupied office stock across the eight leading markets grew 7% year-on-year to 917.7 million square feet as of September 30, 2026, up from 859.4 million square feet a year earlier, according to Knight Frank India. The increase of 58.3 million square feet highlights continued expansion in major commercial real estate hubs, with Bengaluru maintaining its lead and Pune surpassing the 100 million square feet mark.
The eight markets tracked by Knight Frank India are Bengaluru, Mumbai, National Capital Region (NCR), Hyderabad, Chennai, Pune, Ahmedabad, and Kolkata. Bengaluru remained the country’s largest office market, with occupied stock rising 9% year-on-year to 227.9 million square feet. Pune’s occupied office stock reached 101.0 million square feet, registering a 9% increase from 92.4 million square feet in September 2025. Hyderabad posted the fastest growth among all markets, with an 11% year-on-year rise to 119.8 million square feet.
Growth across major office markets
Mumbai recorded a 5% year-on-year increase in occupied office stock to 148.2 million square feet, while NCR saw a 2% rise to 178.3 million square feet. Among the markets with occupied stock below 100 million square feet, Ahmedabad led with a 10% growth to 28.0 million square feet. Chennai’s occupied stock grew 5% to 89.5 million square feet, and Kolkata posted a 9% increase to 25.0 million square feet.
Key milestones and market leaders
Four markets—Bengaluru, NCR, Mumbai, and Hyderabad—each reported over 100 million square feet of occupied office stock. Pune’s crossing of the 100 million square feet milestone was highlighted as a significant development in the country’s commercial office sector.
Industry perspective
Viral Desai, International Partner and Senior Executive Director, Occupier Strategy Solutions, Industrial & Logistics, Capital Markets & Retail at Knight Frank India, said the office markets continue to show resilience, supported by business expansion and changing workplace requirements. “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,” Desai said.
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