Office space leasing in India's top six cities rose 19% to 29.4 million square feet in the first half of 2024. Mumbai and Hyderabad quadrupled office space absorption, with Bengaluru leading at 8.8 million sq ft.

The office leasing industry is heavily influenced by GCCs in India because to their skill and cost advantages. GCCs continue to alter India's commercial real estate market as they develop across industries.

Bank of America (BofA) has acquired 1.1 million square feet of Chennai office space in a major move. This sale is BofA's biggest office space transaction of 2023 and one of its largest captive centres outside the US. The DLF Downtown, Taramani site is for the bank's Indian back office.

In a significant real estate move, the National Securities Depository Limited (NSDL) has secured a sprawling 68,000 sqft office space in Mumbai's prestigious Bandra-Kurla Complex. The deal, worth an estimated Rs 198 crore, was inked with IDFC First Bank.