JLL measured India’s office gross leasing at 16.45 million square feet in Q2 2026, a nine-quarter low. But the first half still reached 37.9 million square feet, second only to H1 2025 in JLL’s series. For commercial-property readers, that is a softer quarter inside a historically strong half-year—not proof by itself of a sustained market decline.
What did JLL count in Q2 and H1?
JLL’s 31 August India Office Market Dynamics report says gross leasing fell to 16.45 million square feet in Q2. It also reports 37.9 million square feet for H1, the second-highest first-half total on record after H1 2025. Bengaluru contributed 24.6% of JLL’s Q2 gross leasing, the largest city share in its breakdown.
These figures describe office space leased across a market series. JLL separately reports net absorption, which is a different measure. A reader comparing reports should keep each metric’s label attached to its number instead of treating all leasing, absorption and supply figures as interchangeable.
Why do providers report different Q2 totals?
Colliers’ Q2 India office release reported 17.4 million square feet of Grade A space uptake across the top seven markets. JLL reported 16.45 million square feet under its gross-leasing measure. The labels and reported series are not identical, so the gap should not be presented as a simple disagreement about one shared tally.
Colliers also notes that its gross-absorption figure excludes lease renewals, pre-commitments and deals with only a signed letter of intent. This is a reminder to read a provider’s scope and footnotes before comparing totals. The cleaner comparison is usually each provider’s own quarter-to-quarter or year-to-year series, using the same definition.
What does the Bengaluru share tell a buyer?
The 24.6% figure places Bengaluru first in JLL’s Q2 city split. It is a share of the reported national office gross-leasing volume, not a measure of Bengaluru home sales, household formation, office occupancy or the performance of a particular building.
For a commercial asset decision, national shares can frame where leasing activity is concentrated. They cannot replace the building’s tenant schedule, lease expiry profile, occupancy records, current rents or operating costs. Those records are closer to the asset-level question.
For a Bengaluru office purchase, use the city share only as a starting signal. Identify the relevant micro-market, office grade and tenant profile, then examine lease schedules, expiry dates, occupied area, break options, concessions and operating costs. That is the evidence needed to move from a national statistic to a building-level decision.
Office leasing should also be kept separate from residential market measures. BestProp.ai’s India H1 2026 housing-sales coverage tracks home sales and sales value—a different market and a different unit of analysis. Neither series, on its own, establishes what a specific home or office is worth.
Was India’s office market weak in H1 2026?
Not in JLL’s historical comparison. JLL says H1 gross leasing reached 37.9 million square feet, the second-highest H1 total after 2025, even though Q2 fell to a nine-quarter low.
What share did Bengaluru have in Q2 office leasing?
JLL assigns Bengaluru 24.6% of India’s Q2 gross-leasing volume in its city breakdown.
Sources: JLL India Office Market Dynamics Q2 2026; Colliers India Office Snapshot Q2 2026.