The report highlighted a major shift towards adaptable workplace solutions in the commercial real estate market, reflecting growing occupier preference for flexible office models. Alongside flexible space providers, research, consulting, and analytics firms contributed 17 per cent of Delhi-NCR’s leasing activity, while technology companies accounted for a 12 per cent share during the April-June period.
The rise in demand coincided with the addition of nearly 2.0 msf of new office supply in the regional market, strengthening Delhi-NCR’s position as one of India’s leading commercial real estate hubs.
Delhi-NCR’s performance reflected a wider national trend, with flexible office space operators emerging as the largest occupier segment across India by capturing a 27 per cent share of office leasing. Along with technology companies and banking, financial services, and insurance firms, flexible space operators contributed nearly 63 per cent of India’s second-quarter leasing activity and 58 per cent of total leasing during the first half of 2026.
Driven by strong occupier demand, India’s office market recorded a historic quarterly absorption of approximately 24.6 msf, marking an 18 per cent sequential increase and a 14 per cent year-on-year rise.
“India’s office market continues to demonstrate its structural depth and resilience, delivering back-to-back record quarters even as the world navigates a volatile geopolitical and economic backdrop,” said Anshuman Magazine, Chairman and Chief Executive Officer – India, South-East Asia, Middle East and North Africa, CBRE.
Magazine added that the market’s strength was broad-based, with global capability centers expanding their presence and flexible space operators scaling rapidly across both major and emerging cities. He said the momentum, supported by strong fundamentals and sustained occupier confidence, is expected to continue throughout 2026.
Delhi-NCR remained among the top three contributors to national office leasing during the quarter, alongside Bengaluru and Pune, with the three markets together accounting for 58 per cent of India’s total office absorption. Global capability centers remained highly active, with Delhi-NCR contributing 8 per cent of pan-India global capability center leasing.
At the national level, global capability centers accounted for 42 per cent of total office absorption, marking their highest-ever quarterly share. Meanwhile, overall office supply in India increased to approximately 21.0 msf, recording a 91 per cent quarter-on-quarter growth.
“The demand across cities, asset classes, and occupier categories remains consistent. Occupiers are prioritising quality, sustainability, and flexibility equally, reflected in the rapid adoption of flexible office spaces, continued dominance of green-certified assets, and record activity in markets such as Delhi-NCR and Pune,” said Ram Chandnani, Managing Director, Leasing Services, India, CBRE.
Chandnani further stated that with investment-grade office supply remaining limited compared with demand, rental growth across key micro-markets is expected to continue in the coming quarters.
According to the report, Delhi-NCR occupiers are increasingly adopting “core plus flexible” workspace models as part of their long-term portfolio strategies. Flexible office leasing in the region increased significantly from 0.3 msf in the second quarter of 2025 to 1.6 msf in the second quarter of 2026.
CBRE expects flexible workspace operators to continue expanding their presence by securing high-quality and well-connected office assets across Delhi-NCR during the remainder of the year. The record leasing activity highlights the growing importance of flexible workspaces in India’s evolving commercial real estate landscape.
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