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

Morningstar has leased an additional 33,000 sq ft of office space at Wadhwa Group’s Vishwaroop IT Park. The nine-year agreement is expected to generate nearly ₹44 crore in rental revenue through 2034. The expansion takes Morningstar’s total footprint in the business park to 445,000 sq ft.
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Kochi continues to emerge as one of India’s fastest-growing Tier-II office destinations, supported by expanding Grade-A office stock, strong leasing activity, and a growing GCC ecosystem. Flexible workspace operators led office demand with a 37% share in Q1 2026, while retail and residential markets also recorded healthy growth.
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Smartworks has leased more than 400 seats in Mumbai to the Indian subsidiary of a Japanese non-banking financial company under a five-year agreement valued at nearly ₹35 crore. The deal highlights growing demand for managed office solutions and reinforces the increasing role of enterprise occupiers in driving India’s flexible workspace market.
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315Work Avenue has appointed Gitanjali Rathnasabapathy as Vice President – Sales, South India, to accelerate business growth and strengthen enterprise client engagement. With experience across CBRE, JLL, Simpliwork, and Smartworks, she joins as the coworking operator expands its footprint across key markets and capitalises on growing demand for flexible workspace solutions.
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Tata Consultancy Services has renewed a 10-year lease for nearly 1.47 million sq. ft. at Chennai One IT SEZ, committing approximately ₹1,420 crore in rent. The deal underscores sustained demand for large-scale office campuses and strengthens Chennai’s position as a key technology and commercial real estate hub.
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Ceratec Group has unveiled plans for a 10 lakh sq. ft. built-to-suit commercial project in Pune’s Wakad micro-market with an estimated revenue potential of ₹1,000 crore. Designed for GCCs, technology companies, corporate headquarters, and large enterprises, the development highlights the rising demand for customised, scalable, and future-ready office environments in India.
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