IIMB-CRE Matrix Commercial Property Rental Index for Offices (Q3 2025)

CRE Matrix, in collaboration with IIM Bangalore, is pleased to release the 4th Edition of the IIMB–CRE Matrix Commercial Property Rental Index (CPRI) Report – Q3 CY 2025. This edition captures the continued resilience of India’s Grade A/A+ office market, supported by stable rental growth across major commercial hubs. Pan-India (Tier 1 Cities) CPRI – Office – Grade A/A+ grew by 2.3% on a QoQ basis, 5.1% YoY, and recorded a robust 3-Year CAGR of 6.2%. Delhi led all cities this quarter with the highest 6.5% QoQ rental growth, while also delivering a strong 20.8% YoY increase. Gurugram continued its upward trajectory with 5.3% QoQ and 13.2% YoY growth. Mumbai, one of India’s most reliable office markets, posted 4.1% QoQ growth and retained the distinction of having the highest 3-Year CAGR at 9.4% among all Tier-1 cities.