Green office assets in India are scaling up fast. Colliers India says green-certified buildings could account for nearly three-fourths of the country’s Grade A office inventory by 2030. Green certification is now a basic expectation for occupiers, not a bonus.
Green Office Assets in India: Key Highlights
- Leasing in green assets is likely to cross a record 80% in 2026 across the top seven office markets.
- Delhi NCR leads in share, with over 85% of office demand in green assets over the last 3–4 years.
- Technology firms account for more than 30% of conventional space uptake in green assets.
- About 70% of Grade A office stock is now green-certified.
- Green stock could grow to around 800 million sq ft in the next 2–3 years.
Why Green Certification Is Now a “Hygiene Factor”
Buildings certified under frameworks such as LEED, IGBC and GRIHA are shaping occupier real estate strategies. These buildings use resources more efficiently and have a lower environmental impact. They also offer better workplace quality.
Colliers projects green leasing at 60–65 million sq ft in 2026. That lifts its share of total leasing to over 80%, up from 74% in 2023. The trend shows how ESG priorities are entering corporate real estate plans. It also reflects growing awareness of energy efficiency, carbon emissions and employee well-being.
Green Office Leasing Trend (Top 7 Cities, Grade A)
| Year | Overall Leasing (mn sq ft) | Green Leasing (mn sq ft) | Green Share |
|---|---|---|---|
| 2023 | 59.1 | 43.6 | 74% |
| 2024 | 67.2 | 50.0 | 74% |
| 2025 | 71.5 | 54.5 | 76% |
| 2026 E | 75–80 | 60–65 | 80–85% |
| 2027 F | 80–85 | 65–70 | 80–85% |
Source: Colliers. E = estimate, F = forecast.
Which Cities Lead in Green Office Leasing?
Three-fourths of overall office demand during 2023–2026 is likely to be in green assets. Cities lead in different ways.
- Bengaluru leads in volume. It has nearly 60 million sq ft of cumulative green uptake since 2023, about 28% of the top-seven total.
- Delhi NCR has the highest share, at over 85%.
- Hyderabad is a frontrunner too, with green assets at 80–85% of overall leasing over the past 3–4 years.
City-wise Green Leasing (2023–2026 E)
| City | Overall (mn sq ft) | Green (mn sq ft) | Green Share |
|---|---|---|---|
| Bengaluru | 82 | 59 | 70–75% |
| Chennai | 36 | 27 | 70–75% |
| Delhi NCR | 44 | 38 | 85–90% |
| Hyderabad | 43 | 36 | 80–85% |
| Kolkata | 4 | 3 | 75–80% |
| Mumbai | 37 | 27 | 70–75% |
| Pune | 29 | 20 | 70–75% |
| Total | ~275 | ~210 | 75–80% |
Source: Colliers. Cumulative figures for 2023–2026 E.
Technology Sector Drives Green Space Demand
The technology sector leads green asset leasing. It accounts for more than 30% of the total, followed by BFSI and Engineering & Manufacturing. Nearly 80% of tech occupiers prefer buildings accredited under leading certifications such as LEED and GRIHA.
| Sector | Share of Sector’s Leasing in Green Assets | Share of Overall Green Leasing |
|---|---|---|
| Technology | 75–80% | 30–35% |
| BFSI | 70–75% | 20–25% |
| Engineering & Manufacturing | 80–85% | 15–20% |
| Consulting | 70–75% | 5–10% |
| Healthcare | 80–85% | 5–10% |
| Others | 65–70% | 10–15% |
Industry View: Investors and Occupiers Back Green Assets
Arpit Mehrotra, Managing Director, Office Services, Colliers India, said green assets help deliver better valuations, rentals and occupancy. Occupiers have leased over three-fourths of their space in green buildings in the last 3–4 years. He added that 80–90% of occupiers across sectors are likely to align their space strategies with ESG goals.
Green Office Supply and Stock Outlook
By the end of 2026, nearly 70% of Grade A office stock in the top seven cities is expected to be green-certified. Bengaluru and Delhi NCR together are likely to hold nearly half of it. Green assets could be 75–80% of new supply in 2026, or 45–50 million sq ft. Green stock may rise from 600–650 million sq ft to close to 800 million sq ft in 2–3 years.
| Year | Green Stock (mn sq ft) | Green Penetration | Green Supply (mn sq ft) | Share of New Supply |
|---|---|---|---|---|
| 2023 | 421.0 | 57% | 41.8 | 82% |
| 2024 | 502.5 | 64% | 35.5 | 66% |
| 2025 | 574.1 | 68% | 42.3 | 75% |
| 2026 E | ~636 | ~70% | 45–50 | 75–80% |
| 2027 F | ~690 | ~71% | 50–55 | 80–85% |
Retrofitting: The Next Big Opportunity
Vimal Nadar, National Director and Head of Research, Colliers India, pointed to ageing stock. More than 450 million sq ft of existing office space is over a decade old and may need major upgrades. Most redeveloped assets are expected to seek green certification. Together with the new pipeline, this could take green assets to nearly three-fourths of India’s office inventory by 2030.
What This Means for Occupiers and Developers
Green buildings improve operational efficiency and workplace quality. They also support employee well-being, productivity and business performance. As ESG-led decisions grow, green assets will stay the preferred workspace choice.
Data pertains to Grade A buildings in Bengaluru, Chennai, Delhi NCR, Hyderabad, Kolkata, Mumbai and Pune. Gross leasing excludes renewals, pre-commitments and LOI-only deals. 2026 figures are estimates and 2027 figures are forecasts.
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