Global Capability Centres (GCCs) leased nearly 32 million square feet in FY25—up 24% from the previous year—driven by India’s skilled talent and modern office infrastructure. Delhi-NCR emerged as the top performer, with Fortune 500 firms taking half the GCC space. Demand is expanding beyond IT to banking, healthcare, and R&D.
India’s commercial office market continues its upward momentum, fueled by a record surge in leasing activity from Global Capability Centres (GCCs). In FY25, GCCs leased nearly 32 million square feet across major Indian cities, marking a 24% year-over-year increase, according to a recent industry report. This wave of expansion is being led by Fortune 500 companies, which accounted for nearly half of the total space leased by GCCs.
However, the attraction isn’t just about cost efficiency anymore. Today’s global firms are turning to India for its robust talent pool, innovation-driven ecosystem, and availability of large, tech-enabled office spaces. GCCs are establishing future-ready hubs that support a range of functions, from R&D and engineering to enterprise support, solidifying India’s role as a global operations backbone.
Among all cities, Delhi-NCR stands out as the frontrunner. With strong infrastructure, excellent connectivity, and a deep talent base, the region has become a magnet for global occupiers. Over 28% of NCR’s total office leasing in FY25 came from GCCs, with Fortune 500 firms alone accounting for half that share, up from 40% last year.
Gurugram, Noida, and Faridabad are experiencing a steady increase in large-scale leasing activity, driven by demand for Grade A commercial spaces that offer scalability and modern amenities. “Delhi-NCR’s office market remains robust, led by Gurugram and Noida,” said Shantanu Gambhir, Co-Founder of RISE Infraventures. “Well-connected corridors like Dwarka Expressway are becoming hotspots for GCC expansion.”
Echoing this, Sanchit Bhutani, Managing Director at Group 108, noted, “The Noida-Greater Noida Expressway has emerged as a preferred destination for Fortune 500 firms and GCCs. World-class infrastructure, premium buildings, and the upcoming airport are pushing this corridor into the spotlight.”
While IT and ITeS companies remain dominant, other sectors such as banking, healthcare, and R&D are catching up quickly. This diversification signals a broader shift in India’s commercial real estate market, making it more resilient and future-proof.
With India cementing its place as a global hub for strategic operations, demand for better, greener, and more flexible office spaces is set to rise. The message is clear: GCCs are no longer a side story—they are shaping the next chapter of India’s commercial real estate journey.
As global companies expand their footprints in India, driven by innovation and scale, the country’s office market is evolving rapidly—delivering world-class infrastructure for a new generation of workplaces.
