Delhi-NCR's office space boom: Record 15.8 million sq ft leased in 2025
Delhi-NCR just smashed its own record for office leasing, hitting 15.8 million square feet in 2025—a solid 24% jump from last year.
Net absorption also soared by 82%, and Delhi-NCR was second only to Bengaluru in total leasing volume.
What's driving the surge?
IT and business process companies led the charge, snapping up over a third of all new leases.
Noida and its expressway are now hot spots, thanks to lower rents (25-40% less than prime NCR hubs) and big projects like the Noida International Airport bringing fresh energy to the area.
Rents rising as space fills up
With so much demand, vacancy rates have dropped and rents are climbing—up by 6-8% year-on-year across Delhi-NCR in 2025, and even higher (12-15%) in Gurugram CBD year-on-year in 2025.
If you're curious about how India's workspaces are evolving or thinking about where your future job might be, this is one trend worth watching.