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vacancy rates India

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India’s Global Capability Centres leased a record 31 million sq ft in 2025, transforming cities, creating jobs, and driving real estate demand as companies expand beyond metros into Tier-II markets.

GCCs Power India’s Office Market to an All-Time High in 2025 Despite Global Headwinds

Global Capability Centres powered India’s office market to a historic high in 2025, accounting for 45% of total leasing activity. With record absorption, falling vacancy rates, and rising demand across major cities, GCCs are set to dominate office growth well into 2026.
new office supply

India’s Office Sector Achieves Record Leasing in Q3 2024, Vacancy Rates Hit Historic Low

India’s office sector saw record leasing activity in Q3 2024, with 24.8 million sq ft leased, a 66.4% YoY increase. Vacancy rates hit a historic low at 17.1%, driven by high demand from Global Capability Centers (GCCs) and the IT-BPM sector.