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

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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Bagmane Office Parks REIT plans to add 2.5–3 million square feet of office space every year while targeting a twofold portfolio expansion over the next five years. Strong leasing demand from multinational companies and GCCs, combined with a healthy development pipeline, continues to strengthen confidence in India’s commercial office market.
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Smartworks reported its first quarterly profit in Q1 FY27, posting a net profit of ₹13.14 crore and a 44% rise in revenue. Growth was driven by increasing demand from large enterprise clients and multi-city occupiers. The company also announced plans for the world’s largest managed office campus in Pune.
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India’s commercial real estate sector recorded fresh leasing momentum with 315Work Avenue leasing 45,000 sq. ft. of managed office space in Bengaluru and Welspun One’s World Trade Centre Thane signing Novel Jewels for over 15,000 sq. ft. The deals highlight sustained demand for flexible workspaces and premium industrial distribution facilities.
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India’s real estate transactions reached $2.3 billion in Q2 2026, driven by rising investments in commercial properties, REIT acquisitions, and private equity activity. Commercial assets accounted for 65% of total deal value, while residential investments declined sharply, reflecting a growing institutional preference for stable, income-generating office and business park assets.
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