Premium Office Corridors in Gurugram, Noida Drive Leasing Growth in Delhi-NCR Region

India's Office Market Sees Strong Start to 2026

India's office market has witnessed a robust start to 2026, with gross leasing rising 15 percent year-on-year to around 18 million square feet across the top seven cities in the January-March quarter. This growth is driven by strong demand from technology firms, BFSI players, and Global Capability Centres (GCCs), according to data from Colliers.

The data highlights that technology and BFSI occupiers together accounted for nearly two-thirds of the total leasing activity during the quarter. GCCs remained the biggest demand drivers, contributing close to half of the overall absorption, reinforcing India's position as a preferred destination for global back-office operations and innovation hubs.

This sustained expansion by core sectors underscores the continued occupier confidence and a stable growth trajectory for Grade A office assets, supported by strong fundamentals such as digital infrastructure, sustainability features, and improved connectivity.

Leasing Activity in Top Cities

| City | Gross Leasing (Q1 2026) | Growth Rate (YoY) | | --- | --- | --- | | Top 7 Cities | 18 million sq ft | 15% | | Gurugram | 3-4 million sq ft | - | | Noida/Greater Noida | - | - |

Developers highlight that leasing momentum in Gurugram continues to be led by high-quality office corridors with strong infrastructure and accessibility. Gurugram sees strong traction in premium corridors, particularly Golf Course Extension Road, which is witnessing heightened interest from occupiers seeking premium Grade A offices.

Industry estimates suggest Gurugram contributed roughly 3-4 million sq ft of gross leasing in Q1 2026, led by demand from technology firms, consulting companies, and GCCs. The city remains a preferred destination due to its established corporate ecosystem, proximity to Delhi, and access to a large talent pool.

The Noida-Greater Noida corridor is also seeing increased traction, particularly along the Noida Expressway, where large-format developments and infrastructure upgrades are attracting occupiers. The availability of Grade A office spaces, coupled with strong road connectivity, upcoming infrastructure projects, and relatively competitive rentals, is making this corridor highly attractive for companies looking to optimise costs without compromising on quality.

With continued expansion by GCCs and steady demand from core sectors, analysts expect office-leasing activity to remain resilient through 2026.