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

Microsoft India has signed a major office lease agreement for 264,000 square feet in Hyderabad’s financial district, marking a significant expansion of its presence in the city. With a five-year term, the deal features an annual rent escalation and demonstrates the growing demand for office spaces in Hyderabad’s thriving tech sector.
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Multinational corporations (MNCs) are increasingly seeking high-quality Grade A office spaces in India, driven by long-term growth plans and the need to provide modern workplaces for their employees. According to Rahul Sayal, Managing Director of Bharti Realty, this trend is fueling robust demand, especially in major business hubs.
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The Delhi Metro Rail Corporation (DMRC) has launched its largest office space leasing program yet, unlocking more than 35,000 square metres of built-up commercial real estate in prime locations across Delhi. This strategic move aims to generate new non-fare revenues by offering flexible, long-term office leases to corporates and institutions, with options for sub-leasing and diverse commercial uses. Key sites include the DMRC IT Park at Shastri Park, Konnectus Tower near New Delhi Railway Station, and select stations on the Pink and Violet metro lines.
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Flexible workspace provider Incuspaze has leased 3 lakh square feet of Grade A office space across three prime Jaipur locations, marking its debut in Rajasthan. The move aligns with its strategy to expand into Tier II cities, targeting cost-conscious enterprises, startups, and GCCs while building toward a projected ₹350–400 crore revenue in FY26 and setting the stage for a future IPO.
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India’s office leasing hit a record 48.9 million sq ft in H1 2025, growing 41% YoY, driven by strong demand from Global Capability Centres, IT services, and flex operators. Bengaluru led the surge, while falling supply and rising rents signalled a tightening market, particularly in key hubs such as Mumbai and Hyderabad.
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Leasing of office space for Global Capability Centres (GCCs) jumped 24% in FY2024–25 to 31.8 million sq ft across India’s top seven cities, according to Vestian. Fortune 500 firms accounted for 13.5 million sq ft. Bengaluru led with 12.43 million sq ft, followed by substantial gains in Mumbai and other metros.
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