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India’s top eight office markets recorded 14.1 million square feet (sq ft) of net absorption in July–September 2026, according to Cushman & Wakefield figures reported by IANS and ETRealty. The result rose 26% from the previous quarter but fell 18% from the same quarter in 2025. Hyderabad and Bengaluru led the reported city results.
What the 14.1 million sq ft figure measures
The reported figure is net absorption across India’s top eight cities. It is not the same label as gross leasing volume, and the detailed methodology behind Cushman & Wakefield’s Q3 national figure is not available in the cited reporting. The result should therefore be read as the company-attributed net-absorption measure, rather than treated as a directly verified table from its national Q3 report.
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IANS and ETRealty attributed the national result to Cushman & Wakefield. The company’s India MarketBeat hub describes its reports as tracking quarterly supply, demand and pricing, but the national office report surfaced there was for Q2 2026, not Q3. Cushman & Wakefield India MarketBeat
Why the quarterly and annual comparisons point in different directions
At 14.1 million sq ft, Q3 absorption was 26% higher than Q2 2026, but 18% lower than Q3 2025. The quarter-on-quarter increase indicates a rebound from the immediately preceding quarter; the year-on-year decline compares with the larger level recorded a year earlier. Neither comparison cancels out the other.
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Cushman & Wakefield-attributed reporting also put year-to-date net absorption through September at 36.7 million sq ft across the top eight cities. That nine-month total provides a broader view than the single-quarter figure, but does not by itself establish how the full year will finish.
Hyderabad and Bengaluru accounted for the largest reported city results
Hyderabad recorded 4.1 million sq ft of net absorption, or 29% of the reported national total. Bengaluru followed with 4.0 million sq ft. Cushman & Wakefield’s city pages provide supporting figures for several other markets:
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| City | Reported Q3 2026 net absorption | Attribution |
|---|---|---|
| Hyderabad | 4.1 million sq ft | Cushman & Wakefield, as reported by IANS |
| Bengaluru | 4.0 million sq ft | Cushman & Wakefield, as reported by IANS; also reported on its official city page |
| Chennai | 1.04 million sq ft | Cushman & Wakefield official city page |
| Mumbai | 1.0 million sq ft | Cushman & Wakefield official city page |
| Kolkata | 0.30 million sq ft | Cushman & Wakefield official city page |
These city figures offer context, not a full reconciliation of all eight markets to the national total. The available city pages do not establish the complete city-by-city breakdown needed to independently sum the 14.1 million sq ft result.
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Other firms published larger Q3 figures, but their labels and coverage are not interchangeable with the Cushman & Wakefield-attributed net-absorption result.
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| Provider and reporting | Q3 2026 figure | What the figure represents |
|---|---|---|
| Cushman & Wakefield, as reported by IANS and ETRealty | 14.1 million sq ft | Net absorption across the top eight cities |
| CBRE India, October 1, 2026 | About 21.0 million sq ft | Called “absorption” in the surfaced summary; the summary does not label it net absorption |
| Colliers India, September 28, 2026 | 18.7 million sq ft | Grade A demand in a top-seven-market series, described in a gross-leasing context |
CBRE also reported 66.4 million sq ft for the first nine months of 2026; Colliers reported 54.4 million sq ft of January–September demand across its top-seven-market series. Those totals should not be compared as though the firms used the same measure, grade of stock and city coverage. A difference between published headline numbers alone does not establish that one is wrong.
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How to read the result
- For the quarter’s direction: use the quarter-on-quarter comparison to see that the reported measure increased from Q2.
- For the annual comparison: use the year-on-year figure to see that Q3 remained below the level reported for Q3 2025.
- For city context: Hyderabad and Bengaluru were the largest named contributors in the reported results.
- For comparisons across providers: check the metric, city coverage and stock grade before drawing conclusions from headline totals.
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