Soaring Office Rents: Bengaluru and Delhi Hit New Highs

For the first time, Bengaluru and Delhi-NCR have breached the Rs 100 per sq ft mark in average monthly rentals for prime office spaces, according to real estate consultant Knight Frank.

The sustained rental growth, ranging from 2% to 15% in Q1 2026 across eight major Indian cities, signals a strong demand for office spaces amid supply constraints. Mumbai's office rentals remain the highest, already surpassing Rs 100 per sq ft.

The demand for office leases reached a record 29.9 million sq ft in January-March, yet office completions fell short as developers prioritized residential projects. Notable developers such as DLF Ltd and Embassy Group remain key players in the office space market, along with four major Real Estate Investment Trusts (REITs).