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

From April to June 2025, the IT and IT-enabled services sectors took up half of all the new office spaces rented in India. At the same time, companies that offer flexible workspaces accounted for 14% of the total space taken up, showing significant growth in both areas compared to the previous quarter.
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India’s office market is poised to hit a record-breaking 90+ million sq ft in gross leasing this year, says Cushman & Wakefield. The surge is fueled by GCC expansions, robust demand from the tech and BFSI sectors, and strong domestic momentum, despite dips in some key cities, such as Bengaluru and Mumbai.
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US companies are leasing record office space in India, led by the growth of the Global Capability Centre (GCC). Bengaluru, Hyderabad, and Delhi-NCR are top choices, with firms viewing India as a key innovation and operations hub. Leasing volumes rose 16%, highlighting India’s strategic role in global corporate expansion plans.
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Indian companies now account for 46% of office leasing in India, up from 35% pre-2020, driven by BFSI, manufacturing, and tech sectors. A JLL report highlights record-high leasing in 2024 and Q1 2025, with Delhi-NCR and Mumbai leading the surge. Leasing volumes may cross 100 million sq. ft soon.
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India’s office leasing reached 19.46 million square feet in Q1 2025, driven by strong domestic and global demand. Bengaluru led leasing activity, with flex spaces dominating key cities. Net absorption surged 54%, while vacancy rates dropped to a four-year low, signalling a bullish outlook for the sector.
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Foreign companies drove 62% of India’s office space leasing in Q1 2025, renting 111.6 lakh sq ft across nine major cities, says CBRE. Total leasing rose 5% year-on-year, led by demand from Global Capability Centres and a growing focus on sustainable, employee-centric workspaces.
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