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

Despite global uncertainty and IT sector layoffs, India’s office market experienced a 34% year-over-year surge in 2025, with 42 million sq. ft. of absorption across the top cities. Led by Bengaluru, Pune, and the Delhi-NCR region, demand for Grade A and flexible workspaces remains strong as GCCs, coworking operators, and BFSI firms drive leasing momentum.
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Incubex NestaVera, a Bengaluru-based flexible workspace provider, is investing ₹100 crore to expand its footprint over the next two years. The company plans to scale from 3 lakh sq ft to 1 million sq ft across Bengaluru, Hyderabad, Pune, and Mumbai, targeting a ₹100 crore topline and continued EBITDA-positive growth.
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The NCR office market is witnessing a rapid transformation driven by world-class connectivity, modern infrastructure, and sustainability-focused Grade A spaces. With Gurugram, Noida, and Greater Noida emerging as power hubs, corporates are prioritising transit accessibility, ESG alignment, and experience-driven design—making NCR a top rival to Bengaluru and Hyderabad in commercial real estate.
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Kerala Chief Minister Pinarayi Vijayan inaugurated ‘i by Infopark,’ a premium 48,000 sq. ft. coworking space at Ernakulam South Metro Station, creating 550 jobs. Designed as the state’s first neurodiversity-friendly workspace, it blends inclusive design, modern amenities, and top connectivity—marking a new milestone in Kerala’s evolving IT and coworking ecosystem.
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Smartworks has leased over 500 seats in Pune to Davies Shared Services, the Indian arm of UK-based Davies Group. The move enhances Smartworks’ enterprise-focused portfolio, now spanning 12 million sq ft across 14 cities. Following its successful IPO, the company continues to expand managed campuses for global corporates across India’s key business hubs.
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India’s office market remains robust, with rentals rising 6% across major cities and vacancy levels easing to 16.2%. Pune saw a record 97% growth in office absorption, driven by GCCs and flexible workspaces. Bengaluru and the Delhi-NCR region led overall leasing, while the coworking and IT/ITeS sectors continued to drive demand for high-quality Grade A offices.
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