Will India's total office stock exceed 1 billion square feet by Q3 2025?

New Delhi, Aug 4 (NationPress) India's total office stock is projected to surpass the significant milestone of 1 billion square feet (bn sq ft) in office supply by Q3 2025, marking a crucial development in the office real estate sector and bringing India's stock closer to that of other global gateway markets, according to a recent report.

"From under 200 mn sq ft in 2005 to nearly 1 bn sq ft in 2025, office supply has experienced a CAGR of 8.6 percent over the past 20 years," stated Knight Frank in their analysis.

This growth emphasizes India's rise as one of the fastest-growing and most prepared office markets on a global scale.

As of the first half of 2025 (H1), the total office stock across the top 8 Indian cities was recorded at 993 million sq ft (mn sq ft).

Bengaluru leads with 229 mn sq ft (23 percent), followed by NCR with 199 mn sq ft (20 percent), and Mumbai at 169 mn sq ft (17 percent).

"As we approach the 1 billion sq ft milestone, it’s not just a figure; it symbolizes the increasing institutionalization, maturity, and global significance of India’s office market," said Shishir Baijal, Chairman and Managing Director of Knight Frank India.

This transformation has been fueled by a network of world-class developers, investors, and occupiers who have consistently elevated standards in creating dynamic and sustainable work environments, he added.

India’s office stock has increased at a CAGR of 8.6 percent from CY2005 to 2025. Bengaluru, NCR, and MMR have spearheaded this growth, accounting for 60 percent of the total stock. Hyderabad, Pune, and Chennai contribute an additional 33 percent, while Ahmedabad and Kolkata comprise the remaining 7 percent of India’s office stock, according to the report.

The report further reveals that the demand for office space in India has evolved significantly from 1990 to 2025, transitioning from a tech-industry support base to a global center for capability hubs, ascending the value chain.

Spanning seven distinct phases, this evolution showcases resilience, innovation, and policy-driven reform.

Key milestones such as the SEZ policy, regulatory enhancements, and infrastructure investments have propelled the market to the 1 billion sq ft threshold, highlighting scale, quality, and institutional depth, as per the report.

Looking ahead, the report suggests that the growth potential remains substantial.

With the current office stock approaching 1 bn sq ft, India is on track to add another billion square feet by 2036-2041, depending on the expansion pace.

These forecasts are not merely speculative; they are based on India's anticipated nominal GDP growth, historical absorption patterns, and the growing institutionalization of the office sector.

At a projected 12.7 percent CAGR, supported by strong economic momentum and formalization, this milestone could be achieved by 2036, the report concluded.