Real estate consultant Vestian said New Delhi (PTI) Hyderabad (PTI) is in the seven major cities, with the highest vacancy in office space in the past few years.
According to Vestian data as of March 2025, Hyderabad’s total office shares are 1.622 million square feet, of which 28.4 million square feet or 17.5% of the vacancies are not yet rented to the company.
Hyderabad’s vacancy rate fell from 19% to 17.5% because no new supply entered the market during January-March this year.
After Hyderabad, consultant data shows that NCR’s office space in Delhi has 23.2 million square feet of office inventory, with 1.364 billion square feet. The vacancy rate of Delhi-NCR is 17%.
Bengaluru, the country’s most outstanding office market, owns 2.805 million square feet of stock, with 7.5% or 21 million square feet of stock opens.
In Chennai, office vacancies are 7.1%. The total inventory of office space is 8.43 million square feet and 600,000 square feet are vacant.
The office vacancy rate in Mumbai is 8.3%. Out of the 151.2 billion square feet of office inventory, there are 1.25 million square feet of vacancies.
Kolkata has the highest percentage term at 28.9%. Kolkata’s office space inventory is 27.5 million square feet, which is vacant at that 7.9 million square feet.
The vacancy in Pune is 6.6%. The total office space inventory in Pune is 84.4 million square feet, of which 5.6 million square feet are vacant.
Regarding demand, Vestian data shows that office space rentals rose 34% in January and March this year to 17.96 million square feet.
Vestian CEO Shrinivas Rao said: “India’s office market maintained its growth momentum in Q1 2025, driven by continued demand in the major office market in India. Despite the decrease in absorption in the last quarter, demand for office space by GCC, IT-ITS, IT-ITS, IT-ITS, BFSI and Flex Space is expected to swing in the upcoming Quarters.”
