Indian office property net absorption is rising due to global capability centres (GCCs) and flexible spaces. India's status as a business centre is strengthened by global and local firms' rapid development.

Japan’s Sumitomo Corporation Group has made a major move in Mumbai’s real estate market by acquiring a nearly 2-acre prime land parcel in Worli from the Wadia Group’s Bombay Dyeing & Manufacturing Company for ₹440 crore. This deal further solidifies Sumitomo’s presence Indian real estate.

Google leased 649,000 sq ft of office space in Alembic City in Whitefield, Bengaluru. Sources report a monthly fee of ₹62 per sq ft with a three-year lock-in term. Google has been proactively purchasing conventional and flexible office premises in key Indian cities to expand its footprint.

According to a report by the Confederation of Indian Industry (CII) and Knight Frank, Global Capability Centres (GCCs), flexible and co-working spaces, and the IT sector will drive office space demand in India to 1.7 billion square feet by 2030.

Due to decarbonisation ambitions, more Indian enterprises are prioritising eco-friendly commercial real estate. Green office space demand is outpacing supply in India's key property markets, signalling a new age of corporate environmental conscience.

Bengaluru office leasing is changing. Multinational firms' tech and shared service divisions, Global Capability Centres (GCCs), are gaining ground in India's commercial real estate market. In 2023, GCCs leased the most space since the start of the decade, according to Colliers.

91Squarefeet, a dynamic commercial fit-out company recognized for its innovative approach and backed by prominent investors such as Y Combinator and Stellaris Venture Partners, has announced a bold vision for the future.

Commercial purchases in Bengaluru fell 14.3% to 12.5 million square feet in 2023. Knight Frank India ascribed this decline to US inflation and a slowing technology industry, which drives Bengaluru's office space demand.

Mumbai's office property market has set a new Indian lease rental record. The Toronto-Dominion (TD) Bank extended its India headquarters lease at Maker Maxity in the Bandra-Kurla Complex (BKC) for an astounding Rs 604 per sq ft per month.

Indian co-working is booming again. Small and international enterprises are filling vacant office premises. As office workers return, the co-working market is heating up again.

OfficeBanao, which provides a platform for designing and furnishing office spaces, has secured $6 million in initial investment led by Lightspeed.

IT services company Persistent Systems has rented almost 2000 seats from Smartworks, a supplier of flexible office spaces as per news from the Indian co-working sector.

As firms opt for bigger office spaces, there is little question that flexible office arrangements in India are increasing as new statistics emerge. This is a tremendous potential for landlords, property developers, and real estate agents in India.

Commercial real estate in India has something very positive to cheer about. The year 2018 has been a very good one for commercial properties in India including Office spaces, IT spaces, retail real estate, etc.