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

Danish multinational Topsoe has relocated its India operations from Faridabad to Noida, leasing 75,000 sq ft of managed office space at DLF Tech Park through Table Space. The move aligns with its sustainability goals and comes as Noida grows into a business hub, further boosted by the upcoming Jewar Airport.
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In 2024, India’s real estate sector saw a significant transformation, with Rs 62,000 crore needed for land development, as per JLL. Developers acquired 2,335 acres across 23 cities, with Tier II and III cities gaining traction. Residential projects dominated while evolving financing strategies shaped the industry’s growth.
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Indian real estate developers acquired nearly 6,000 acres for Rs 90,000 crore between 2022 and 2024, signalling strong market confidence, according to JLL India. In 2024 alone, 2,335 acres were bought for Rs 39,742 crore. While Tier I cities led acquisitions, Tier II and III cities gained traction, highlighting emerging market potential.
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Hyderabad’s office space absorption grew by 7% in 2024, reaching 7.5 million sq. ft., driven by Grade-A micro-markets. Despite rental growth, supply constraints pushed vacancy rates to a record 26.5%. The IT-ITeS sector saw a slight dip, while BFSI and coworking expanded. NCR led with a 61% surge in net absorption.
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The Delhi-NCR office market saw a 61% surge in demand in 2024, driven by GCCs and the tech sector. Co-working spaces gained traction, while office rentals rose 5%. Despite a 22% drop in new supply, vacancy rates fell. Noida led rental growth, keeping NCR a key business hub.
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EFC (I) Ltd has expanded its serviced office portfolio with a 26,500 sq. ft. acquisition in Pune, adding 600 seats. This move strengthens its leadership in India’s managed office sector. With substantial financial growth, the company continues to attract investors, offering competitive returns and expanding its market presence.
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