India’s tech capital is dominating corporate real estate with a commanding lead in pre-committed office space deals, reveals Anarock’s latest market report.

Between October 2024 and March 2025, Bengaluru secured nearly 5.7 million sq ft of pre-committed office space—over half (53%) of the total 10.8 million sq ft leased across India’s top three commercial hubs: Bengaluru, Mumbai, and Delhi-NCR. Mumbai accounted for 3.1 million sq ft (29%), while NCR lagged at 2 million sq ft (19%).

According to Peush Jain, Managing Director – Commercial Leasing & Advisory at Anarock Group, the momentum behind these deals is rooted in the mismatch between demand and new quality supply.

“The post-pandemic surge in office space absorption, fuelled by the return to office, has outpaced the creation of new quality supply,” said Jain. “Rising demand from domestic and multinational firms, combined with new workplace strategies that prioritise advanced tech and ESG compliance, has significantly boosted pre-commitment activity.”

Pre-commitment deals, where occupiers lease space in buildings still under construction, are becoming a strategic choice. These arrangements allow businesses to lock in prime locations, negotiate favourable terms, and hedge against future rental hikes. The practice is widespread in Bengaluru, Mumbai, and NCR—markets with large concentrations of tech firms, BFSI institutions, and co-working operators.

Bengaluru’s average deal size was around 0.5 million sq ft, surpassing Mumbai’s 0.4 million and NCR’s 0.1 million. 42% of all pre-leased deals during this period—16 in total—were for spaces above 0.3 million sq ft. Nine significant transactions occurred in Bengaluru, underlining the city’s growing importance as a pre-commitment hotspot. Mumbai and NCR recorded four and three large deals, respectively. Global IT/ITeS and BFSI giants largely drove these big-ticket leases.

The report also identified key micro-markets fueling this trend. In Bengaluru, Whitefield, Bellandur, and Hebbal led the charge. Andheri East and Goregaon East stood out in Mumbai, while NH-8 and Aerocity emerged as preferred corridors in the NCR.

Anarock’s India Office Market Update for CY2024 also paints a bullish picture of overall demand. Net office absorption hit nearly 50 million sq ft in 2024—up 29% YoY, while new supply reached 48.1 million sq ft, marking just a 1% increase. This widening gap is a key driver of the pre-leasing surge as occupiers look to secure space amid the tightening availability of Grade A+ office stock.

As corporates return to the workplace and scale operations, pre-commitment strategies are expected to become even more mainstream—especially in Tier 1 cities with limited ready-to-move-in inventory and growing ESG and tech-driven preferences.