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

Large office transactions contributed 59% of India’s total office leasing during H1 2026, according to Knight Frank. Demand from multinational companies, Global Capability Centres (GCCs) and technology firms continues to drive the market, encouraging developers to deliver premium Grade A office spaces with sustainability, flexibility and future-ready infrastructure.
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Lloyds Realty has signed a 15-year lease with Smartworks for its entire 182,300 sq ft commercial tower, The Square, in Mumbai’s Andheri East. The deal is expected to generate over ₹600 crore in rental revenue, strengthening the developer’s commercial portfolio while highlighting continued demand for premium managed office spaces.
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India leased a record 21.5 million sq ft of office space in Q1 2026. GCC demand grew 43% year-on-year while new completions fell 36%. The result: the tightest concentration Bengaluru’s office market has seen in five years — and most 2026–27 term sheets aren’t pricing it in.
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Ahmedabad’s office market is witnessing rising demand for mid-sized workspaces, with leasing activity between 50,000 and 100,000 sq. ft. recording strong growth during H1 2026. Businesses are increasingly prioritising flexibility and cost efficiency, positioning the city as an emerging commercial real estate destination supported by sustainable urban development.
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