India's Leap Towards Sustainable & Innovative Workspace Design
- Industry News
- March 13, 2024

Urban Vault has delivered a 16,000 sq ft managed office for Green SM in Gurugram, marking the electric ride-hailing company’s first workspace in India. The partnership reflects growing demand for flexible office solutions among global firms entering the country, while coworking operators continue expanding rapidly across major Indian cities.
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Morningstar has leased an additional 33,000 sq ft of office space at Wadhwa Group’s Vishwaroop IT Park. The nine-year agreement is expected to generate nearly ₹44 crore in rental revenue through 2034. The expansion takes Morningstar’s total footprint in the business park to 445,000 sq ft.
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Kochi continues to emerge as one of India’s fastest-growing Tier-II office destinations, supported by expanding Grade-A office stock, strong leasing activity, and a growing GCC ecosystem. Flexible workspace operators led office demand with a 37% share in Q1 2026, while retail and residential markets also recorded healthy growth.
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Smartworks has leased more than 400 seats in Mumbai to the Indian subsidiary of a Japanese non-banking financial company under a five-year agreement valued at nearly ₹35 crore. The deal highlights growing demand for managed office solutions and reinforces the increasing role of enterprise occupiers in driving India’s flexible workspace market.
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