Tag: GCCs office demand

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India office leasing expected to rise 12-14% in FY27: Ind-Ra

NEW DELHI: According to India Ratings and Research (Ind-Ra), the commercial real estate sector in India’s office market is expected to stay strong, with FY26 absorption predicted to increase by over 10% year-on-year, reaching around 79-80 million sq ft. For FY27, the rating agency forecasts a 12-14% year-on-year growth in office leasing, anticipating total leasing to hit 85-90 million sq ft. Vacancy rates are expected to stabilize between 12-18%, while rental prices may see a 4-6% increase year-on-year, driven by global capability centres (GCCs) and flexible workspace operators. Ind-Ra notes that volatility linked to the Middle East and the Strait…

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2025 Sees 55M Sq Ft in Net Office Leasing: Anarock

NEW DELHI: In 2025, net office leasing in India’s top seven cities reached an unprecedented 55.16 million sq ft, marking a 10% year-on-year increase, according to Anarock Research. This growth came despite challenges like layoffs in the IT sector and global tariff issues. For context, net absorption was approximately 49.95 million sq ft in 2024. Bengaluru maintained its position as the largest office market, leasing about 14.15 million sq ft for the year. However, this represented a 5% decline in net absorption compared to 14.87 million sq ft in 2024. In contrast, Pune experienced the highest annual growth among the…