Office leasing hits a record 61 million sq ft in nine months as GCCs expand

Companies leased 61.06 million sq ft of office space across India’s seven big cities from January to September, up 8.1% from a year earlier and a record for the period, according to JLL.

Leasing in July to September alone was 23.17 million sq ft, up 40.9% from the previous quarter.

Global capability centres, the in‑house operations of foreign companies, leased 26.2 million sq ft in the nine months, 42.9% of the total and up 30.6%.

Bengaluru led the quarter with 7.74 million sq ft, followed by Hyderabad at 4.55 million and Delhi NCR at 4.19 million. Over nine months, leasing fell in Delhi NCR, Chennai and Kolkata.