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

Only 23% of India’s 520 million sq. ft. REIT-worthy office stock is listed, signalling vast headroom for new REITs and portfolio consolidation. South India leads with 313 mn sq. ft. (18% listed), while NCR, MMR, and Pune remain under-indexed. Robust leasing, rental escalations, and Grade-A upgrades support sustained growth for REITs.
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India’s office market is defying regional trends, with Bengaluru, Delhi-NCR, and Mumbai expected to hit a record 50 million sq. ft in office leasing in 2025, according to Knight Frank. GCCs and IT firms are driving demand as rents rise 4.3% YoY despite new supply and global headwinds.
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India’s flexible workspace market now commands 20% of commercial leasing, according to the Flex Office Market in India 2025 report by myHQ. Corporate adoption is rising fast, with enterprise deal sizes doubling since 2023. Bengaluru leads the supply, while Tier-2 expansion and GCC demand fuel the next growth wave.
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Bengaluru’s offices are embracing plant rentals as a smarter, cost-effective solution to keep workspaces green. Offering regular upkeep, replacements, and decor alignment, plant rental firms are seeing rising demand from corporations and restaurants. As awareness of well-being and aesthetics grows, plant rentals are becoming integral to modern office design.
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India’s escalating office rentals in major metros are reshaping business strategies, with Hyderabad, Pune, Indore, Ahmedabad, Lucknow, and Coimbatore leading the shift towards affordable, high-quality office spaces. Supported by rapid infrastructure growth, government incentives, and robust talent pools, these Tier-2 cities offer sustainable alternatives—making 2025 a turning point for India’s multi-city commercial real estate growth.
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Microchip Technology, a US-based semiconductor giant, has acquired 1.72 lakh sq ft of office space in Bengaluru’s Whitefield for ₹176 crore, making it one of the city’s largest commercial property transactions this quarter. The deal covers two blocks in the EPIP Zone, a prime eastern IT corridor, and ranks among the premium acquisitions with a value of around ₹10,230 per sq ft.
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