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flex spaces

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India Defies Global Office Rental Slump, Posts Record Growth in Leasing

This City in the Country Holds the Highest Vacant Office Stock in India

This City holds the highest vacant office stock in India, reaching 28 million square feet in Q1 2025. While demand for office space remains robust across major cities, new supply and absorption trends show a dynamic real estate landscape, with Bengaluru, Mumbai, and Pune leading in absorption. This article provides an in-depth analysis of the office market in India, highlighting key trends and data from Q1 2025.
India Defies Global Office Rental Slump, Posts Record Growth in Leasing

India Office Market Sees 7 Straight Quarters of Vacancy Decline

India’s commercial real estate sector continues to gain momentum with vacancy rates falling to a four-year low of 15.7% in Q1 2025. Despite lower new supply, strong leasing activity, especially from GCCs and IT-BPM sectors, kept demand high. Cities like Mumbai, Pune, and Bengaluru led the market, while rising rentals highlight growing competition for premium office spaces.
Flex Office spaces

India’s Office Market Poised for Strong Growth in 2025, Led by Engineering, BFSI, and Flex Spaces

Office leasing in India is projected to reach 65-70 million sq ft in 2025, led by engineering, BFSI, and flex spaces. Bengaluru will remain the top market, with over 20 million sq ft of demand, followed by Hyderabad and Delhi-NCR at 10-15 million sq ft each. The expansion of Global Capability Centers (GCCs) and a shift towards sustainable office spaces will further drive growth.
Office real estate

India’s Office Leasing Hits Record High in 2024 with 66.4 Million Sq Ft Activity

India’s office leasing market reached a historic high in 2024 with 66.4 million sq ft of activity, a 14% year-on-year growth. Bengaluru led the demand surge, recording 21.7 million sq ft of leasing. Flex spaces saw unprecedented growth, contributing 12.5 million sq ft, while Hyderabad and Mumbai crossed 10 million sq ft each for the first time.
Office real estate

BFSI and Flex Spaces Drive Office Space Demand in Q3 2024

The office space market in India saw a significant shift in Q3 2024, with BFSI and Flex Spaces driving a 20% increase in demand. Bengaluru and Hyderabad led absorption, while cities like Mumbai and Chennai experienced declines.