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

315Work Avenue has leased 50,000 sq ft of premium workspace to the METRO Global Solutions Centre at International Tech Park, Pune. As demand for flex spaces surges, 315Work Avenue expands its Pune footprint to 0.6 million sq ft, part of a larger 3 million sq ft pan-India portfolio across top cities.
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Tesla has entered India with a luxury showroom in Mumbai’s BKC, sealing the country’s most expensive auto showroom lease. Alongside the 4,000 sq ft retail space, Tesla has also leased flex office seats and a large service centre in Kurla. A Delhi showroom in Aerocity is also reportedly underway.
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Indian co-working firm IndiQube reported a widened loss of ₹341.5 crore in FY24, despite strong revenue growth. The startup is preparing for a ₹850 crore IPO, positioning itself for further expansion in a booming flexible workspace market. While growth continues, profitability remains elusive due to high operational and expansion-related costs.
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Delhi NCR saw 2.8 million sq ft of leasing and strong net absorption of 3.1 million sq ft. Noida Expressway led demand. Vacancy declined to 21.06%, while rents rose 3–5% QoQ, particularly in Gurgaon CBD. With 13.9 million sq ft under construction, supply will shape the coming quarters.
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Hyderabad posted 2.62 million sq ft in leasing, doubling YoY. Net absorption hit 1.82 million sq ft, led by Healthcare, BFSI, and IT. Madhapur saw the most activity and rent growth. Vacancy held at 23.1%. A large pipeline and Metro expansion support long-term growth, especially in core micro-markets.
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WeWork India has received approval from SEBI for an IPO comprising an offer for sale of 43.75 million equity shares. Backed by Embassy Group, the coworking major won’t raise fresh capital, but aims to gain listing benefits. The move signals a renewed interest in India’s growing premium flex space sector among investors.
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