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

Colliers has appointed Kishore Veeraghattam as Managing Director for Chennai, in addition to his ongoing leadership role in Hyderabad, to drive integrated growth across both South Indian real estate hubs. Backed by global experience, he is positioned to advance Colliers’ expansion in flexible workspaces, industrial parks, sustainability-led assets, and cross-city client strategies.
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India’s commercial real estate market is projected to reach USD 643 billion by 2035, driven by accelerating office demand, e-commerce-led warehousing, and nationwide infrastructure expansion. Tier I metros continue to anchor activity, while Tier II cities gain traction. Policy reforms, sustainable buildings, and flexible workspace trends are reshaping the sector’s future trajectory.
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A significant commercial real estate transaction in Gurugram’s office sector has highlighted evolving trends in India’s workspace market. A 1.9 million sq ft technology-driven business park has changed ownership in a Rs 2,050 crore deal, signaling confidence in well-leased, transit-connected properties despite hybrid work dynamics.
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Wipro has leased 1.45 lakh sq ft at Mindspace Airoli for 5 years, with a total rent exceeding ₹61 crore. The deal includes 97 parking slots, a ₹5.83 crore security deposit, and a 5% annual escalation. This expansion builds on Wipro’s 2025 lease of 3.87 lakh sq ft in the same business park.
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Kolkata’s office market saw a sharp 16% rental rise in 2025 as leasing crossed two million sq ft amid a severe shortage of new supply. With vacancy levels tightening, landlords repriced assets more aggressively. Domestic enterprises and flex operators led absorption, highlighting a structural imbalance between demand and supply in one of India’s most affordable office markets.
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Facebook India has leased 69,702 sq ft in Hyderabad’s Hitec City for five years, strengthening its long-term presence in the city. With rising GCC demand, renewed leases, and robust leasing volumes, Hyderabad continues to outpace Bengaluru in attracting global enterprises. The city closed 2025 with strong momentum, driven by diversified occupier activity.
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