Office leasing in Delhi-NCR, Mumbai plunges 51% in Jan–March on weak supply

Office space leasing in Delhi-NCR and Mumbai plummeted by 51% in Q1, reaching 3.28 million sq ft, primarily due to reduced fresh supply. Despite this dip, rental rates in Delhi-NCR saw a notable increase, with Gurugram's CBD leading the surge. Mumbai also experienced a rental rise, driven by key business corridors.

Apr 20, 2026 1

Office leasing in Delhi-NCR, Mumbai plunges 51% in Jan–March on weak supply
Office space leasing in Delhi-NCR and Mumbai plummeted by 51% in Q1, reaching 3.28 million sq ft, primarily due to reduced fresh supply. Despite this dip, rental rates in Delhi-NCR saw a notable increase, with Gurugram's CBD leading the surge. Mumbai also experienced a rental rise, driven by key business corridors.
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