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

Nearly half of India’s office space is over a decade old, posing risks of low occupancy and outdated functionality. A CBRE study highlights a Rs 500 billion investment opportunity in retrofitting 434 million sq. ft. to meet modern workplace demands and sustain competitiveness across key markets like Bengaluru, Delhi-NCR, and Mumbai.
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India’s commercial real estate market is set to grow fivefold by 2033, fueled by flexible work trends, green building demand, and strong investor interest. Key cities and emerging tier-2 hubs are driving growth, while sectors like co-working, logistics, and retail evolve to meet new workplace, sustainability, and consumer expectations.
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India’s office space market surged in Q1 2025 with a 34% year-on-year rise in absorption across top cities, led by Bengaluru and Mumbai. Despite slower new supply, demand from GCCs and flexible workspaces remains strong. Vestian predicts continued growth driven by IT, BFSI, and coworking space expansion.
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Hyderabad’s office market is facing a growing vacancy crisis, with new space deliveries outgrowing demand since 2020. With 28 million sq ft now lying vacant, the city tops India’s major markets for unused inventory. Experts suggest flexible leasing and coworking models may help ease the imbalance in the coming months.
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India’s green office space is set to reach 700 million square feet within the next 2-3 years, with green-certified buildings accounting for 80-85% of leasing activity. Bengaluru, Delhi-NCR, and Hyderabad lead in green office stock, contributing to India’s push toward a sustainable, low-carbon economy in real estate.
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India’s commercial real estate market is booming, with vacancy rates hitting record lows in significant cities. Awfis MD Amit Ramani attributes this to rising urbanisation, increased demand from IT firms, and a strong return-to-office trend, with flexible workspaces playing a key role in driving growth.
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