India's Office Space Supply Hits Record High in 2024
- Industry News
- March 12, 2025
WeWork India’s ‘Your Office, Your Way’ campaign challenged workspace misconceptions, showcasing its adaptability beyond startups. Using relatable office scenarios and visually engaging 2D+3D graphics, the campaign boosted brand awareness by 14% and doubled lead quality. The initiative redefined WeWork India’s positioning as a leading flexible workspace provider for enterprises.
READ MOREIndia’s real estate market is projected to grow to $1 trillion by 2030, fueled by PropTech advancements, urbanisation, and digital platforms. Aurum PropTech highlights opportunities in rental housing, SM-REITs, and AI-driven innovations. With 75% of buyers using digital tools, the sector is rapidly evolving, shaping a dynamic and inclusive future.
READ MOREIndia inaugurated the CSIR Mega Innovation Complex in Mumbai on January 17, 2025, to support start-ups and MSMEs. Spanning nine floors, it features 24 incubation labs and office spaces. With six MOAs signed and 50 technology transfers completed, the facility strengthens India’s push for innovation, research commercialisation, and self-reliance.
READ MORETable Space plans a $2.5 billion IPO next year, hiring Axis as bookrunner. The managed workspace provider, backed by Hillhouse Investment, operates 60+ centres across India and aims to double its 9.5 million sq ft portfolio. Amid strong market demand, its IPO follows Awfis’ successful public debut and rising workspace investments.
READ MOREAccording to Knight Frank India, NCR’s office market hit a record 12.7 million sq. ft. leasing in 2024, with deal sizes rising 29% YoY. Noida saw a 48% surge, while Gurugram remained dominant. Flexible workspaces grew 2.4x, reflecting the shift towards hybrid work and high-quality office space demand.
READ MORESanofi Healthcare India has leased 270,000 sq ft in Hitech City, Hyderabad, securing six floors in RMZ Spire-Tower 110. The INR 2.05 crore per month lease includes a five-year lock-in period and a 15% rent hike after three years, reinforcing Sanofi’s expansion strategy and commitment to India’s healthcare sector.
READ MOREMumbai and New Delhi rank 5th and 8th in CBRE’s 2025 APAC Investor Intentions Survey, highlighting India’s rising real estate appeal. Foreign investments hit $11.4 billion in 2024, with Singapore leading. Investors prioritise office spaces, data centres, and ESG projects, signalling strong growth in India’s commercial real estate sector.
READ MOREInnov8, OYO’s flex space startup, raised ₹110 crore from investors like Mankind Pharma and Gauri Khan at a ₹1,000 crore valuation. The funds will fuel expansion, targeting 100 centres by 2025. With 90% occupancy and substantial profits, Innov8 is set to capitalise on India’s booming ₹9 billion flex workspace market.
READ MOREIndia’s office market is set for record absorption, with net leasing projected to grow 10-11% in FY2025 to 59-60 million sq. ft., according to ICRA. Vacancy rates will remain stable, while retail leasing will grow 7-9%. Rising demand from GCCs, corporates, and resilient economic factors continue to drive expansion.
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