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

Urban Vault has leased 21,000 sq ft of workspace in Bengaluru to Japanese companies Nachi, Pioneer, and Komatsu, strengthening its foothold in the growing GCC market. With a hybrid model that cuts CapEx and OpEx, the firm now serves over 50 GCCs and operates a 2.8 million sq ft pan-India portfolio.
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Brookfield India REIT has opened a Qualified Institutional Placement to raise ₹3,500 crore, setting a floor price of ₹327.33 per unit. The move follows unitholder approval and reflects growing investor interest as Grade A office demand strengthens. The REIT manages 29.1 million sq. ft. across major Indian cities.
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Wipro has leased 1.7 lakh sq ft from Smartworks in Kolkata’s Sector V, marking the city’s largest flex-office deal. The space will support 3,000 employees across two Smartworks campuses. Executives from Smartworks and JLL say rising enterprise adoption of managed campuses reflects India’s shift toward scalable, tech-enabled workspace solutions.
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Bollywood singer Sonu Nigam has leased a 4,257 sq. ft. commercial space in Santacruz East’s Trade Centre BKC for ₹19 lakh per month, rising annually over a five-year term. Registered in December 2025, the agreement includes a ₹90 lakh security deposit and is expected to earn him ₹12.62 crore in rental income.
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Smartworks has leased 1.68 lakh sq. ft. in Kolkata to a leading global IT, consulting, and business process services company, marking the city’s largest flex office transaction. The space spans Smartworks’ Victoria Park and Mediasiti campuses in Salt Lake Sector V and offers tech-enabled work zones, collaboration areas, wellness spaces, and enterprise-grade amenities.
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Kwality Wall’s has leased a fully managed, 180-seat premium office at Oberoi Commerz II in Goregaon, Mumbai, for ₹89.5 lakh per month. The 5-year contract includes a rare 60-month lock-in, an annual 5% escalation, and extensive workspace amenities from Tablespace Technologies, marking a notable long-term deal in Mumbai’s Grade-A office market.
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