Big-ticket workspaces drive leasing momentum across top cities.

Large Office Deals Power India’s Commercial Realty in Q1 2026.

India’s commercial real estate market in the first quarter of 2026 was led decisively by large office space transactions, according to a report by Knight Frank India. Office deals sized 100,000 sq ft and above accounted for 65 per cent of total leasing activity across the country’s top eight cities, aggregating 19.5 million sq ft. This marked a 3 per cent year-on-year growth over Q1 2025, despite a high base effect. Overall office leasing across all categories stood at 29.9 million sq ft. Bengaluru retained its leadership, recording 7 million sq ft in large deals, representing 77 per cent of its total leasing. Hyderabad followed with 4.4 million sq ft, registering a sharp 69 per cent annual rise, while Mumbai saw an 81 per cent jump to 2.9 million sq ft. Mid-sized offices contributed 17 per cent of leasing, with notable growth, while smaller offices also maintained steady demand, led by Mumbai and NCR.