India continues to strengthen its position as the most cost-competitive office fit-out market in the Asia Pacific region, offering global occupiers an attractive mix of affordability, scale, and quality, according to a recent report.
The study by Cushman & Wakefield highlights that office fit-out costs across India’s major cities range between $65 and $73 per square foot. This is significantly lower compared to other key regional markets such as Tokyo ($215), Sydney ($161), and Singapore ($140).
This cost advantage reinforces India’s appeal as a preferred destination for companies seeking to build high-quality, collaborative workspaces at scale while maintaining cost efficiency.
Industry experts note that India’s competitiveness extends beyond pricing, with consistent cost structures across cities and strong execution capabilities further enhancing its position.
The report comes at a time when global supply chains remain sensitive to fluctuations, particularly in energy costs. In this environment, India’s relative cost stability is making it an increasingly attractive market for workplace investments.
Demand for office space across the Asia Pacific region has also shown strong recovery. Prime office net absorption across 27 markets reached 92 million square feet in 2025, up from 76 million square feet in the previous year.
India has played a central role in this growth, with its top eight cities contributing nearly two-thirds of the region’s total office demand. This highlights the depth and resilience of the country’s commercial real estate sector.
On the supply side, office construction activity remains robust. Of the approximately 386 million square feet of office space under construction across Asia Pacific at the start of 2026, nearly 192 million square feet is concentrated in India’s leading cities.
Within the domestic market, Mumbai remains the most expensive location, with fit-out costs reaching around $73 per square foot, driven by strong demand from multinational corporations, financial institutions, and Global Capability Centres.
Overall, the report underscores a clear trend: while companies are becoming more strategic in their workplace investments, India continues to offer a compelling balance of cost efficiency, quality infrastructure, and scalability, making it a key hub for future office development in the region.
