Mumbai, Oct. 12 -- India's office leasing market remained stable at 66.7 million square feet in the first nine months of 2026, as rising demand from Global Capability Centres (GCCs), flexible workspace operators and India-facing businesses offset a sharp decline in leasing by third-party IT services companies, according to a report by Knight Frank India.

The report said office leasing across eight major Indian markets remained at the same level as in the corresponding period last year.

However, the composition of demand changed, with GCCs increasing their share of total office transactions even as leasing by third-party IT and IT-enabled services (ITeS) companies fell 36 per cent year-on-year.

It stated, "While overall leasing remained...