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

India’s commercial real estate market saw a strong recovery in the first half of 2025, mainly because of high demand for office spaces in Bengaluru and a steady supply of new properties. The growth was driven by Global Capability Centres and companies that offer flexible workspace solutions, showing that Bengaluru continues to be a top spot for the changing way people work after the pandemic.
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Hyderabad posted 2.62 million sq ft in leasing, doubling YoY. Net absorption hit 1.82 million sq ft, led by Healthcare, BFSI, and IT. Madhapur saw the most activity and rent growth. Vacancy held at 23.1%. A large pipeline and Metro expansion support long-term growth, especially in core micro-markets.
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India’s office sector is defying global slowdowns, with H1 2025 setting historic highs in gross leasing, net absorption, and demand for flex space. Driven by GCC consolidation, rising domestic demand, and the growth of flex workspace across sectors, India is emerging as a strategic global hub for corporate innovation and operations.
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Smartworks’ $67.6 million IPO was fully subscribed by the second day, driven by strong interest from retail and non-institutional investors. The surge reflects the rising demand for integrated office spaces as global firms expand their operations in India. Analysts expect tech parks to dominate new supply, reinforcing India’s position as one of the top office markets in the Asia-Pacific region.
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ExxonMobil has renewed its five-year lease for 5.31 lakh sq ft in Bengaluru’s Whitefield, committing ₹2.60 crore monthly. The deal reflects growing occupier confidence in India’s top tech hub. Recent mega-leases by Amazon and Google further reinforce Bengaluru’s dominance in attracting global giants to premium commercial office spaces.
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Pune experienced a significant surge in office leasing during the first half of 2025, driven by Global Capability Centres and flex space operators. Leasing reached 38–51 lakh sq ft, with GCCs alone accounting for 15 lakh sq ft in Q2. Despite rising vacancies from new supply, rents climbed 3% to ₹77/sq ft.
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