ICICI Bank has signed a 9-year lease for 130,000 sq ft of prime office space in Navi Mumbai’s Turbhe locality in commercial tower owned by Arihant Paradise Realty.

India’s flex space market is booming, driven by rising demand, office supply shortages, and hybrid work trends. Developers and brokers can leverage pre-leasing to secure prime locations and meet evolving client needs.

India’s flex space market is booming, with pre-leasing surging as office supply falls short in metro cities, driving demand for flexible, ready-to-move solutions.

WeWork India has leased 126,000 square feet in Andheri East, replacing its Powai space, as part of its strategic coworking expansion in Mumbai.

India’s commercial real estate sector witnessed remarkable momentum in 2024, driven by record-breaking corporate leasing and high-value office space deals. From bustling metros to emerging business hubs, these transactions reflect the growing demand for premium workspaces.

Morningstar, a leading American financial firm, has leased 300,000 sq ft at Vishwaroop IT Park, Vashi, for ₹38 crore annually with a 5% yearly hike. The 10-year deal, totaling ₹450 crore, highlights Navi Mumbai's rise as a commercial and IT hub, driven by its strong infrastructure and connectivity.

Nippon Life India Asset Management has acquired two premium floors in Mumbai's One Lodha Place, Lower Parel, for ₹486 crore, marking a landmark deal in the city’s prime real estate market.

Deloitte India has secured over 81,000 sq ft of luxury office space on two floors of the Oberoi Commerz III skyscraper in Goregaon, Mumbai's busy western district. This strategic move is part of the company's long-term expansion strategy, with a five-year lease beginning November 1, 2024.

Company demand for flexible workspaces will peak in 2024. In the first half of 2023, 106,554 seats have been rented, compared to 155,000 for the year. Leasing is growing rapidly due to economic development, changing work dynamics, and the necessity for cost management.

Amazon, Cognizant, IBM, Accenture, and McKinsey are renewing leases in India's office space market, which is booming. Bangalore led the list of cities where major firms renewed office space, with 1.6 million square feet renewed between January and July 2024.

IBM renewed its lease for 830,000 square feet of Embassy Golf Links Business Park office space in Bengaluru. The ₹143 crore yearly leasing contract is one of the biggest in the commercial office space category this year. According to insiders, this initiative would strengthen the US technology giant

Volkswagen Group Technology Solutions India has leased a three-story commercial tower in Hinjewadi, Pune, for over five years. In the Embassy Tech Zone of the Rajiv Gandhi InfoTech Park in the second phase of Hinjewadi development, this new office occupies over 123,000 sq ft in the Hudson Block.

First Bank Leases Goregaon Premium Office Space Mumbai: IDFC First Bank has leased an office space at Göegaon's Oberoi Commerz III tower spread across 4 floors. Under the five-year leasing arrangement, the bank would pay ₹170 crore in rent.

The Mumbai Metropolitan Region Development Authority (MMRDA) plans to lease out seven plots in the Bandra-Kurla Complex (BKC) to earn 5,497 crore. This program finances Mumbai Metropolitan Region infrastructure projects.

Apple will lease 400,000 sq ft of office space on Sankey Road from Embassy Group at a record cost of nearly ₹220 per sq foot per month.