The Delhi-NCR property market witnessed a 2.5 times jump in net leasing of office spaces during the July-September period on better demand for premium workspaces from corporates, according to Cushman & Wakefield.

Net leasing jumped to 3.79 million (37.9 lakh) square feet in the third quarter of this calendar year from 1.52 million (15.2 lakh) square feet in the year-ago period. Net absorption is a key indicator of real estate demand, representing the net change in occupied office space. Delhi-NCR contributed 23 per cent to the total net leasing of office spaces across the top eight cities during the July-September quarter.

Net leasing of office space rose 35 per cent across eight major cities to 16.25 million (162.5 lakh) square feet during the third quarter of this calendar year from 12.08 million (120.8 lakh) square feet a year ago. With 44.3 million (443 lakh) sq ft of net absorption recorded in the first nine months of 2025, the market has already achieved nearly 87 per cent of the full-year total of 50.7 million (507 lakh) square feet in 2024, the consultant said.

“With one quarter still to go and a strong pipeline of active deals, the market is firmly on track to surpass last year’s record, potentially setting a new high for annual net absorption again this year,” C&W said.