Office Space in India’s Top 8 Cities Nears 1 Billion Sq Ft, Valued at $187 Billion: Knight Frank

India’s top eight cities are on the verge of surpassing a major milestone in commercial real estate, with total office space stock reaching 993 million square feet—valued at a staggering USD 187 billion, according to a report by real estate consultancy Knight Frank India.

The report projects that the office space inventory will cross the 1 billion sq ft mark by the end of the current quarter, highlighting the rapid and sustained growth of India’s commercial infrastructure over the past two decades.

“In 2005, India had less than 200 million sq ft of office space. By 2025, it is nearing 1 billion sq ft—growing at a compound annual growth rate (CAGR) of 8.6% over 20 years,” the report stated.

This places India firmly among the global leaders in office real estate. By comparison, the United States leads with 10.2 billion sq ft, followed by China at 6.26 billion sq ft and Japan with 1.77 billion sq ft.

The top eight cities — Delhi NCR, Mumbai, Bengaluru, Hyderabad, Chennai, Pune, Kolkata, and Ahmedabad — account for the bulk of this expansion, driven by the country’s rise as a global hub for technology, finance, and shared services.

The report attributes the growth to increasing demand from multinational corporations, IT/ITeS firms, and the emerging start-up ecosystem. In addition, the return-to-office trend post-pandemic and expansion of Global Capability Centres (GCCs) have boosted leasing activities in recent quarters.

“With continued economic stability and infrastructure improvements, India’s commercial real estate sector is poised for further growth,” Knight Frank added.

Industry experts believe this milestone will significantly boost investor confidence and encourage further foreign direct investment (FDI) into India’s commercial property market.