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Office space demand jumps 14% in FY2025, vacancy dips
India's commercial office market had a strong FY2025, with companies like GCCs, BFSI, and IT-BPM leading the way.
Office space demand jumped 14% to 65 million sq. ft., actually outpacing what was available.
Experts think this momentum will keep going into FY2026, and vacancy rates could dip as low as 13.0-13.5% by March next year.
Leasing patterns shift, GCCs and BFSI lead the way
Leasing patterns are shifting: global IT firms are slowing down a bit, but GCCs and BFSI companies are picking up the slack.
This means more offices getting filled in the coming year.
As of June, top cities had about 1,030 million sq. ft. of Grade A office space—Bengaluru leads the pack here—while better finances for office players point to steady growth ahead.