Hyderabad, Bengaluru office space supply doubled in Jan-Sept: JLL

New Delhi: Fresh office space supply in Bengaluru and Hyderabad doubled to 30.45 million sq ft in January-September, due to strong demand for prime workspace from global and domestic companies, according to JLL.

Real estate consultant JLL India’s latest data shows that new office space supply rose to 43.66 million sq ft in January-September across the top seven cities from 38.84 million sq ft in the year-ago period.

The top seven cities are Bengaluru, Pune, Hyderabad, Chennai, Mumbai, Delhi-NCR and Kolkata.

Of these seven cities, only Bengaluru and Hyderabad witnessed an increase in fresh office space supply.

The total fresh office supply in Bengaluru and Hyderabad rose to 30.45 million sq ft from 14.72 million sq ft.

According to the data, fresh supply in Bengaluru more than doubled to 18.35 million sq ft from 8.59 million sq ft.

Hyderabad supply increased 98 per cent

In Hyderabad, the new supply increased 98 per cent to 12.10 million sq ft from 6.13 million sq ft.

On the demand side, JLL noted that gross leasing advanced 8 per cent to hit a record 61.06 million sq ft in the first nine months of this year across seven major cities.

In the nine months, Bengaluru retained its dominant position as the numero uno office market, with a 28 per cent share of gross leasing volumes.

Radha Dhir, Chief Executive Officer, India, JLL, said, “India remains the centre of the global GCC ecosystem, and the numbers show it. In just nine months of 2026, GCCs (global capability centres) have leased 26.2 million sq ft, which is already 84 per cent of what they took in all of 2025, a record year.”

GCCs account for 42.9 per cent of all office demand, and foreign occupiers now make up 62 per cent of leasing, she said.

“With active negotiations continuing and more GCCs preparing to set up here, 2026 is set to comfortably go past last year’s record. Companies aren’t waiting for global uncertainty to clear. They are building in India because this is where their talent and growth are,” Dhir said.

‘India at forefront of GCC eveolution’

Commenting on the data, Shivam Agarwal, VP – Strategy of Sattva Group, said Bengaluru and Hyderabad are at the forefront of India’s GCC evolution, driven by deep talent pools, technology capabilities and strong infrastructure.

“As GCCs move beyond traditional support functions to lead global mandates across AI, product engineering, research and innovation, quality Grade A office spaces are becoming increasingly strategic,” he said.

Arun Narayan, co-founder and the Chief Growth Officer of BHIVE Workspace, said the sharp rise in office supply in Bengaluru and Hyderabad reflects confidence in the long-term potential of these markets, with technology-led businesses and GCCs continuing to shape office demand.

He said co-working operators are also expanding in a big way to meet rising demand for flexible workspaces.

Ayush Goenka, Founder and Managing Director of Redbrick Offices, said, “More new office space is a good sign for the whole market, and vacancy across the top seven cities is still lower than a year ago at 14.8 per cent”.

Sijo Jose, Co-founder and Director, Property Acquisition at SpazeOne, said the doubling of office supply in Bengaluru and Hyderabad reflects the growing confidence in these markets and the need for workplaces that can keep pace with business expansion.

“As companies, particularly GCCs, continue to expand, premium managed offices will play an important role by offering businesses the flexibility, scalability and convenience they need,” Jose said.

Flexible space operators have taken on leases of 13.83 million sq ft across India’s top seven cities in the first nine months of 2026, the data showed.

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