India, April 23 -- The total new office completions in the first quarter of 2025 stood at 10.7 million sq ft (msf), down by 13% YoY and 27% QoQ, falling short of expectations due to delays in occupancy certifications and project timelines, according to a report by Cushman and Wakefield.

Bengaluru (3.28 msf), Pune (3.21 msf), and Delhi-NCR (2.71 msf) contributed a combined 86% (9.2 msf) of the new completions. Hyderabad recorded 1.32 msf of completions, while Mumbai registered 0.18 msf. Cities like Chennai, Kolkata and Ahmedabad recorded no new supply, resulting in lower vacancy rates and higher rentals in these markets, the report said.

"Supply constraints and strong occupier demand in the first quarter of the year across India's top ei...