India's Top Office Market: Bengaluru Takes the Lead in Q1 2026
Bengaluru has emerged as India's top office market in the January–March quarter of 2026, accounting for 24.8% of national leasing volumes, according to a report by JLL.
- The city recorded a 70% share of Global Capability Centre (GCC) leasing, its highest concentration in two years.
- Bengaluru leased 5.3 million sq ft of office space in Q1, up 24.7% compared to 4.3 million sq ft last year, the JLL report said.
Flexible Workspace Expansion Drives Large-Format Leasing
Managed workspace provider Enzyme Office Spaces leased a total of 3.4 lakh sq ft across multiple micro-markets in Bengaluru at a combined monthly rent of ₹2.5 crore for a 10-year term.
- The portfolio includes 1.8 lakh sq ft in Whitefield, 1.5 lakh sq ft in HSR Layout, and 16,000 sq ft in Hebbal.
- The company plans to sublease these spaces to GCCs and startups, targeting ₹50 crore in annual revenue in the next financial year.
Major Leases in Bengaluru
- Morgan Stanley Advantage Services leased approximately 1.6 lakh sq ft at a prominent office park along the Outer Ring Road–Sarjapur corridor.
- The deal includes a security deposit of around ₹11.89 crore and a monthly rent of ₹1.92 crore over nearly five years.
- Airbus India strengthened its presence in Bengaluru with a lease of over 1.51 lakh sq ft at Titanium Tech Park.
- The eight-year lease carries a monthly rent of about ₹97.09 lakh at ₹64 per sq ft.
- Honeywell Technology Solutions leased close to 4 lakh sq ft in the Bellandur area for a total rent of ₹429 crore over seven years.
- The office space is located in RMZ Ecoworld, a building measuring 399,220 sq ft.
- Brigade Group leased over 1.56 lakh sq ft at a commercial project in Yeswanthpur to two multinational companies.
- The space has been leased to MANN+HUMMEL Filter Private Ltd and Labcorp, a global laboratory services provider.