India’s office leasing market is cruising towards a record-breaking year in 2024, with gross leasing volumes (GLV) expected to hit an impressive 83–85 million sq ft—a 13% surge from 2023’s peak. While 2025’s GLV might taper to 74–76 million sq ft, it’s still forecasted to soar past the 70-million-sq-ft mark for the fourth consecutive year. Only about 48 million sq ft of new office space is expected to roll out in 2024, tightening vacancy rates in major markets. While supply is projected to rebound in 2025, prime sub-markets will likely continue seeing squeezed vacancy rates. Notably, the country is expected to account for nearly 70% of the Asia-Pacific region’s net office space absorption—a staggering indicator of its regional dominance. Fresh leasing activity remains the market’s backbone, driven by new GCC entrants and domestic firms expanding operations. Pre-commitments have tripled compared to last year, with over 70% focused on prime sub-markets, signaling that premium locations are the gold standard for occupiers.