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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 reported total rose 26% from the previous quarter but was 18% below Q3 2025. Hyderabad led the cities, narrowly ahead of Bengaluru.
What the 14.1 million sq ft figure measures
The headline figure is net absorption across the top eight Indian cities. It is not the same label as gross leasing volume or the total area of leases signed. Net absorption generally describes the change in occupied office space over a period, but the detailed methodology behind this particular national figure is not available in the cited coverage. The 14.1 million sq ft figure should therefore be read as Cushman & Wakefield’s reported measure, rather than as a fully independently verified national calculation.
The result was attributed to Cushman & Wakefield by IANS and ETRealty. Cushman & Wakefield’s official India MarketBeat hub describes its reports as tracking quarterly supply, demand and pricing, but the national office report available there was for Q2 2026 rather than Q3. The Q3 national primary report was not available to confirm the detailed methodology or market-by-market reconciliation.
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The two comparisons describe different movements. Net absorption increased 26% from Q2 2026, then declined 18% compared with Q3 2025. The quarter-on-quarter rise indicates a stronger result than the immediately preceding quarter; the year-on-year drop reflects comparison with the higher Q3 2025 baseline. Neither percentage should be used without its comparison period.
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Cushman & Wakefield-attributed reporting also put net absorption for the first nine months of 2026 at 36.7 million sq ft across the top eight cities. That is a year-to-date total through September, not a Q3-only figure.
Hyderabad and Bengaluru led the reported city results
Hyderabad recorded 4.1 million sq ft of net absorption, or 29% of the reported national total. Bengaluru followed closely with 4.0 million sq ft. Cushman & Wakefield’s official Bengaluru MarketBeat page also reports 4.0 million sq ft for the quarter.
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Other city figures published by Cushman & Wakefield were 1.04 million sq ft for Chennai, 1.0 million sq ft for Mumbai and 0.30 million sq ft for Kolkata. See the official Chennai, Mumbai and Kolkata MarketBeat pages for those city results. These city figures offer context, but they do not, by themselves, establish a complete reconciliation to the national total.
Why other reports show different Q3 totals
Other property-market trackers published larger Q3 figures, but their labels and coverage are not directly interchangeable with Cushman & Wakefield’s top-eight-city net absorption series.
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| Source and period | Reported measure and total | Coverage or qualification |
|---|---|---|
| Cushman & Wakefield, Q3 2026 | 14.1 million sq ft net absorption | Top eight Indian cities; figure attributed in IANS and ETRealty reporting. |
| CBRE India, Q3 2026 | About 21.0 million sq ft “absorption,” up 6% year on year | CBRE’s surfaced summary uses “absorption” without specifying “net.” Its nine-month figure was 66.4 million sq ft. See CBRE’s Q3 release. |
| Colliers India, Q3 2026 | 18.7 million sq ft of Grade A demand | Top-seven-market series; Jan–Sep demand was 54.4 million sq ft. The release describes gross-leasing context rather than the same net-absorption measure. See Colliers’ release. |
These totals are not evidence of a contradiction on their own. A comparison needs to account for whether a report measures net absorption, uses the broader term “absorption,” or tracks Grade A demand; whether it covers seven or eight cities; and whether the cited source is a company release, a primary report or news coverage attributing data to a provider.
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How to read the market result
- For the national headline, use 14.1 million sq ft as Cushman & Wakefield-attributed net absorption in the top eight cities—not as gross leasing volume.
- State the comparison period alongside any growth rate: the result rose quarter on quarter and fell year on year.
- Use the city breakdown as reported context, while recognizing that the cited city figures do not independently account for the entire national total.
- When comparing providers, keep each firm’s metric and market coverage attached to its number rather than ranking the headline totals as if they measured the same thing.
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