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

Chennai’s commercial real estate market is on track to surpass 100 million sq ft by 2026, driven by strong occupier demand, infrastructure upgrades, and a growing coworking segment. Key micro-markets and steady rental growth underline its appeal as a leading business hub with rising investor confidence.
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India’s office space market saw a strong recovery in Q1 2023, with net leasing up 54% and gross leasing reaching a record high. The surge highlights renewed interest in traditional offices and flexible workspace solutions across major cities, driven by corporate demand and hybrid work strategies.
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Space Matrix has designed a future-ready office for IMC India Securities, aligning with the company’s rapid growth and collaborative culture. The new workspace blends flexible layouts, advanced technology, and biophilic design to boost employee well-being, productivity, and innovation, setting a new benchmark in modern workplace design.
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India’s office space leasing market defies global trends, with a 16% growth in 2024, driven by demand from the IT sector and global capability centres. Affordable rents, a skilled workforce, and urbanisation make India a top destination for multinational companies. The broader real estate sector is also thriving despite challenges.
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Delhi-NCR’s office space market is experiencing significant growth, driven by the expansion of multinational corporations (MNCs) and Global Capability Centers (GCCs). Key commercial hubs like Gurugram, Noida, and Faridabad are seeing increased leasing activity and are focusing on flexible, tech-enabled, and sustainable workspaces to meet evolving business needs.
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Mumbai led India’s office space boom in Q1 2025 with a 63% leasing surge, driven by BFSI demand. Pan-India absorption hit 18 million sq. ft., with significant contributions from Bengaluru, Delhi-NCR, and GCCs. Sustainability also gained momentum, with 81% of leasing in green-certified buildings.
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