Category: Commercial

Stay updated with the latest developments in commercial real estate. Our coverage includes market trends, leasing activity, office space demand, retail property updates, and major commercial deals. Whether you’re an investor, developer, or tenant, get expert insights and news on the evolving commercial property landscape.

CommercialLatest Stories

Gujarat Sees 245 New Commercial Projects in 2024-25

AHMEDABAD: Gujarat’s commercial real estate sector is experiencing a robust revival after years of fluctuation. In 2024-25, the state celebrated the launch of 245 new commercial projects — the highest number since 2019-20’s 269 projects. Additionally, 31,520 commercial units were registered, marking a peak in post-Covid registrations, according to the latest GujRERA report. The sector saw a dramatic drop of 58% in registrations during 2020-21, the peak Covid year, primarily due to the work-from-home culture and lockdowns affecting demand. Tejas Joshi, vice-president of Credai Gujarat, stated, “Office demand plummeted sharply, with businesses in sectors like entertainment, food services, gyms, and…

CommercialLatest Stories

Smartworks Coworking IPO Launches July 10

NEW DELHI: Smartworks Coworking Spaces is gearing up to launch its public share sale on July 10. The initial public offering (IPO) will run until July 14, with anchor investor bidding set for a single day on July 9, as detailed in the red herring prospectus (RHP). The IPO size has been revised downwards; the fresh issue is now Rs 445 crore, decreased from the previously planned Rs 550 crore, and the offer for sale (OFS) has been adjusted to 33.79 lakh shares from 67.59 lakh shares. Approximately Rs 226 crore of the total proceeds will be allocated for capital…

CommercialLatest Stories

Top 7 Cities’ Office Leasing Up 40% in H1 2025: Anarock

NEW DELHI: The commercial real estate sector in India showed a strong recovery in the first half of 2025, with net office leasing in the seven largest cities rising by 40% year-on-year to around 26.8 million sq ft, according to Anarock Research. This compares to 19.08 million sq ft in the same period last year. Bengaluru was the standout performer, achieving 6.55 million sq ft of net absorption, a 64% increase from 4 million sq ft in H1 2024. Pune reported the highest year-on-year growth rate in leasing, soaring by 188% to 3.8 million sq ft, up from 1.32 million…

CommercialLatest Stories

GCCs Hold 42% of India’s Office Leasing in FY25: Report

AI-generated image (representative) NEW DELHI: Global Capability Centres (GCCs) have solidified their role in India’s office leasing landscape for FY25, contributing to 42% of total office space absorption nationwide, a slight increase from 41% the previous year, as reported by Vestian, a real estate consultancy firm. During the fiscal year, GCCs leased 31.8 million sq ft of office space, marking a substantial 24% growth year-on-year. Despite a 4% drop in the number of GCC transactions to 305 deals, the average leased area per transaction has increased, indicating a shift towards larger office spaces and long-term expansion plans. The report notes…

CommercialLatest Stories

India’s Office Space Demand Reaches 48.9M Sq Ft in H1 2025

NEW DELHI: The demand for commercial office space in India hit an all-time high in the first half of 2025, with gross leasing volumes reaching 48.9 million sq ft, reflecting a substantial 41% increase compared to the previous year, according to the latest report by Knight Frank. This remarkable growth was fueled by robust leasing activities in Bengaluru, NCR, and Pune, driven predominantly by Global Capability Centres (GCCs), which accounted for 39% of the total leasing activity. Other significant players included third-party IT services (22%), flexible space operators (21%), and businesses focused on the Indian market (18%). GCCs and IT…

CommercialLatest Stories

WeWork India Leases 200K sq ft Office in Pune and Chennai

NEW DELHI: WeWork India Management has finalized leases for two new locations: WeWork EON Free Zone in Pune and WeWork Ramanujan Intellion Park in Chennai. The Chennai office occupies three floors within the Littlewood Tower, covering a total area of 150,000 sq ft and accommodating 2,400 desks. In Pune, WeWork has partnered with Panchshil Realty to acquire two floors of workspace spanning 60,000 sq ft, which will house 1,000 desks. Both locations are expected to open in the latter half of FY25. Published On Jun 12, 2025 at 12:30 PM IST Join a community of over 2 million industry professionals.…

CommercialLatest Stories

US Firms Account for 33% of Office Demand in India’s Top 7 Cities

NEW DELHI: US companies have leased 64.5 million square feet of office space in India from 2022 to 2024 across seven major cities, accounting for more than one-third of total workspace leasing, according to JLL India. Data from real estate consultant JLL India shows that the total gross leasing of office space during the 2022-2024 period reached 190 million sq ft across Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad, and Pune. Of this, US firms rented 64.5 million sq ft of office space primarily to establish their Global Capability Centers (GCCs). Approximately 70% of the office space rented was for setting…

CommercialLatest Stories

Sealing of Illegal Commercial Properties in Panchkula Villages

PANCHKULA: The Panchkula municipal corporation has decisively moved to seal illegal hotels and commercial properties in village areas that lack the necessary permissions or Change of Land Use (CLU) approvals. This decision came during a revenue realization committee meeting chaired by Mayor Kulbhushan Goyal and Committee Chairman Suresh Verma. To facilitate inspections, a building inspector and two assistant program officers (APOs) have been assigned the task of surveying the affected villages and compiling a report within a week. Properties found without approved building plans or CLU will be sealed, with applicable CLU charges to be collected from the owners. These…

CommercialLatest Stories

50,000 sq ft Lease at 315Work Ave to METRO in Pune

NEW DELHI: 315Work Avenue, a provider of co-working spaces, has leased 50,000 sq ft to METRO Global Solutions Center (MGSC) at International Tech Park Pune (ITPP), located in Kharadi. The company now operates six centers across 600,000 sq ft in Pune, offering approximately 12,000 seats. In total, it manages a portfolio of three million sq ft, providing around 60,000 seats across 45 locations in Bengaluru, Chennai, Hyderabad, Mumbai, and Pune. ITPP is a grade-A tech park spanning 2.5 million sq ft, developed by Ascendas-Singbridge. Published On Jun 19, 2025 at 12:01 PM IST Join over 2M industry professionals! Subscribe to…