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

Crisil Forecasts 16-18% Growth in Flexible Workspace by FY28

NEW DELHI: India’s flexible workspace sector is projected to see a capacity increase of 16-18% in FY27 and FY28, reaching 140-145 million sq ft, as reported by Crisil Ratings. This segment has experienced significant growth over the past three financial years (FY24-FY26), fueled by rising demand from small to mid-sized global capability centers (GCCs), domestic companies, and startups. The market share of flexible workspace operators in net absorption rose from 14-15% in FY24 to around 20% in FY26, with expectations to hit 25% in the next two fiscal years. The report estimates that operators will add 15-20 million sq ft…

CommercialLatest Stories

WeWork India Expands by 1.1 Lakh Sq Ft in Delhi’s Aerocity

NEW DELHI: WeWork India Management has expanded its flexible workspace offerings by adding 1.1 lakh sq ft in Delhi-NCR with a new center at Worldmark 6 in Aerocity. The facility, situated on the third floor of the commercial complex, offers seating for over 1,400 desks. This expansion reinforces the company’s growth in key business districts. Currently, WeWork operates in eight cities, providing a total of over 1.21 lakh desks. The expansion aligns with the ongoing growth in India’s flexible workspace sector. According to Crisil Ratings, the total capacity of this segment is projected to rise by 16-18% during FY27 and…

CommercialLatest Stories

Ludhiana Civic Body Plans to Sell Commercial Properties for Revenue

LUDHIANA: The cash-strapped civic body is now considering selling its commercial properties across the city to raise funds. According to sources, officials are currently determining the property values to prepare for an upcoming auction. These commercial properties have been identified, and there is optimism about finding buyers. “They have earmarked 65 shop-cum-offices for auction in Shaheed Bhagat Singh Nagar, situated opposite Keys Hotel. Some of these SCOs were previously auctioned, yielding significant revenue. Additionally, a commercial site of 268.44 square yards near Kailash Cinema Chowk, 10 shops in the Bearing Market near Jagraon Bridge, and a commercial property of 653…

CommercialLatest Stories

NCR Office Space Net Leasing Falls 60% to 1.5M Sq Ft: JLL

NEW DELHI: The office market in Delhi-NCR experienced a downturn in the first quarter of the year, with net workspace leasing plummeting by 60%, reaching 1.5 million square feet, primarily due to a decline in new supply, according to JLL India. Data from real estate consultant JLL India indicates that gross leasing of office spaces in Delhi-NCR fell 28% from 4.2 million sq ft in the same period last year to 3 million sq ft this year. Net leasing dropped 60% from 3.7 million sq ft to 1.5 million sq ft. Gross leasing includes all lease transactions during the period,…

CommercialLatest Stories

EFC (I) Plans ₹160 Crore Rights Issue at ₹150/Share

NEW DELHI: EFC (I), a managed workspace operator based in Pune, has received approval from its board to raise up to ₹159.94 crore through a rights issue of equity shares, as detailed in a regulatory filing. The board initially approved the rights issue on April 3, 2026, and has now approved the issuance of 1,06,62,786 fully paid-up equity shares at a price of ₹150 each, which includes a face value of ₹2 and a premium of ₹148. The rights entitlement ratio is set at 8:103, meaning eligible shareholders can claim eight rights equity shares for every 103 fully paid-up equity…

CommercialLatest Stories

Concorde leases 140K sq ft to BHIVE; TEC adds 90K sq ft in Mumbai, Pune

NEW DELHI: Concorde, based in Bengaluru, has entered a leasing agreement with BHIVE Workspaces for 1.4 lakh sq ft of grade-A office space at Concorde Econex, valued at an annual rental of ₹16 crore. The new facility, located in Doddanekkundi, Whitefield, consists of a ground floor and four upper levels. This long-term partnership features a 15-year lease, allowing BHIVE to accommodate over 3,000 workstations. In another announcement, The Executive Centre (TEC) has revealed the addition of approximately 90,000 sq ft of workspaces in Mumbai and Pune. In Mumbai, TEC is set to launch two new centers: one at One BKC,…

CommercialLatest Stories

Smartworks Reports ₹10.52 Crore Net Profit in FY26

NEW DELHI: Smartworks Coworking Spaces has announced a net consolidated profit of ₹10.52 crore, with total income amounting to ₹1,849.90 crore for the financial year 2025-26. In Q4 FY26, the company’s net consolidated total income reached ₹532.70 crore, while profit after tax was ₹16.62 crore. The company reported a net debt of -₹56 crore, concluding FY26 with net cash and a reduction in gross debt by over 50% since its IPO. The cost of borrowing dropped below 9%, decreasing approximately 180 bps year-on-year. Neetish Sarda, the founder and managing director, stated, “This year, we became the first listed flex workspace…

CommercialLatest Stories

Co-Working Spaces Create GST Registration Challenges

AHMEDABAD: Businesses utilizing co-working spaces and seeking GST registration are experiencing heightened scrutiny from tax authorities throughout the state. Despite such registrations being legally acceptable, officials are showing caution, particularly when multiple companies share the same address, often suspecting the existence of shell companies or fraudulent entities aimed at tax evasion. Applicants report that government officials frequently request proof of exclusive office space possession, despite co-working arrangements providing licensed access to desks and cabins rather than formally leased premises. In numerous cases, GST applications have been denied because another business is already registered at that location. Chartered accountant Karim Lakhani…

CommercialLatest Stories

Accenture Leases 600K Sq Ft in Pune for ₹325 Crore GCC Plan

Sure! Here’s the rewritten content with a fresh flow: MUMBAI: Accenture has signed a long-term lease for over 600,000 sq ft of office space, spanning nine floors at Phoenix Millennium Towers in Pune’s Baner area. This agreement extends for more than 15 years, as confirmed by sources familiar with the deal. The global technology and consulting firm intends to establish a Global Capability Centre (GCC) at this location, with the move scheduled to occur in two phases, concluding in June. The total rental expenditure is projected to exceed ₹325.37 crore over the lease duration, with phase I costing ₹194.16 crore…

CommercialLatest Stories

Brigade Group and Bain Capital to Develop 2M Sq Ft in Bengaluru

Representative AI image NEW DELHI: Brigade Group and Bain Capital are set to develop a mixed-use project in Whitefield, Bengaluru. The development will be executed through a 50:50 joint venture between the two entities, with a total investment of around ₹2,200 crore on an approximately 11-acre site. The integrated project is projected to encompass around two million square feet, featuring grade-A office space and a five-star hotel managed by an international brand. Recently, the company acquired a 5.72-acre land parcel in Osman Nagar, Hyderabad, at a price of ₹44 crore per acre. It plans to establish a residential project on…