India's Office Space Supply Hits Record High in 2024
- Industry News
- March 12, 2025
India’s office market reached an all-time high in 2024, with 515 lakh sq ft of new office space added across seven major cities. Despite economic challenges, demand for Grade-A spaces remained strong. Hyderabad and Bengaluru led new completions while rental prices steadily increased.
READ MOREIndia drove 16% YoY growth in APAC’s office demand, leasing 37 million sq ft in H2 2024. Tech firms and flex operators fueled leasing, while new supply rose 7% YoY. Experts predict continued growth in 2025, increasing demand for modern, flexible, and sustainable office spaces.
READ MOREEnzyme Office Spaces has leased 14,000 square feet in Andheri East, Mumbai, to Sugar Cosmetics as part of its expansion strategy. The deal reflects India’s growing demand for flexible office solutions, reinforcing Enzyme’s presence in the coworking sector. The space will accommodate 300 employees under a five-year lease.
READ MOREGlobeOp Financial Services has leased 62,976 sq ft in Mumbai’s Nirlon Knowledge Park for ₹1.05 crore per month. The five-year lease, managed by JLL India, includes 63 parking spaces and a ₹6.31 crore security deposit. The deal highlights Mumbai’s strong commercial leasing market and growing corporate demand.
READ MOREWoCO (World of Cool Offices) launches WoCO One, a premium Grade A commercial workspace in Gurugram, setting new benchmarks in luxury office leasing. It is strategically located and boasts IGBC Platinum certification, cutting-edge sustainability features, and world-class architecture. Top industry experts designed it and merges elegance, innovation, and environmental consciousness into a sophisticated workspace.
READ MOREGoogle has opened Ananta, a 1.6-million sq. ft. campus in Bengaluru, reinforcing its commitment to India’s tech and AI growth. It has over 5,000 employees and features collaborative workspaces, sustainability initiatives, and inclusive design. With AI-driven innovation and digital expansion, Google strengthens its presence in India’s evolving tech landscape.
READ MORENukleus Office Solutions’ shares debuted on the BSE SME at Rs 187.20, marking a 20% drop from issue price of Rs 234. The IPO, which raised Rs 31.70 crore, saw lukewarm investor interest with a 1.29x subscription. Funds will be used for expansion, technology, and branding initiatives.
READ MORESwiggy has shifted to a new office in DLF One Horizon, Gurgaon, a prime location that was once Zomato’s headquarters. The move was confirmed by Swiggy’s Surendhar Kumar on LinkedIn. Zomato vacated the space in 2018; meanwhile, Swiggy faces financial pressure, reporting a ₹799 crore net loss in Q3.
READ MOREThe National Payments Corporation of India (NPCI) plans to build a 5 lakh sq. ft. office in Mumbai’s Bandra Kurla Complex, consolidating operations and accommodating 5,000 employees. CEO Dilip Asbe highlights the growing need for space due to AI advancements and the rising adoption of UPI-driven credit transactions.
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