India’s commercial office real estate market continues to show strong resilience despite ongoing global economic uncertainty, according to the latest Knight Frank report. Supported by steady domestic demand, expanding corporate presence, and a stable regulatory environment, India remains one of the more resilient markets across the Asia-Pacific region.
The report notes that Grade-A office stock in major Indian cities has crossed the one billion square feet mark, underscoring the country’s growing role in the global office real estate landscape. Key commercial hubs, including NCR, continue to witness consistent leasing activity, driven by domestic corporates, multinational companies, and Global Capability Centres (GCCs).
Rental values across prime office locations are expected to rise by 7% to 9%, supported by sustained occupier demand and a relatively limited supply of high-quality office spaces. Compared to other emerging and mature Asia-Pacific markets, India continues to offer globally competitive Grade-A office spaces at comparatively affordable rentals, strengthening both occupier and investor confidence.
Industry experts point to Noida–Greater Noida as one of the emerging office corridors within NCR, aided by infrastructure development and improving connectivity.
According to Sanchit Bhutani, Managing Director, Group 108, demand in the region is increasingly driven by companies seeking technology-enabled, future-ready workplaces, with upcoming infrastructure such as the Noida International Airport expected to further support office market growth.
Echoing similar views, Azad Ahmad Lone, President – Business Development & Operations, Biigtech, said that India’s office real estate market is witnessing steady leasing momentum and stable rental values, despite global macroeconomic challenges. He added that controlled supply of Grade-A assets has helped maintain market balance and investor confidence.
Highlighting shifting occupier preferences, Mohit Batra, Regional Director, Realistic Realtors, noted that organisations are placing greater emphasis on sustainability, flexibility, and strategic location, factors that are contributing to higher absorption in prime office micro-markets. These trends, he said, are enabling India to outperform several Asia-Pacific peers.
With continued infrastructure expansion, improving leasing activity, and a growing focus on workplace quality, India’s Grade-A office market is expected to remain a key driver of commercial real estate growth in the coming years, the report added.
