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 up these GCCs. “India’s blend of skilled talent, supportive ecosystem, cost advantages, and a growth-oriented policy environment continues to make it an attractive destination for US corporations aiming to expand their global capabilities,” stated Rahul Arora, Head – Office Leasing & Retail Services, Senior Managing Director (Karnataka, Kerala), JLL India.
GCC-driven demand constitutes 70% of all space requirements from US occupiers, indicating ongoing long-term investment and confidence in India as a significant R&D and innovation hub. Arora notes that Bengaluru is the most favored location among US corporates, particularly in the technology and BFSI (Banking, Financial Services, and Insurance) sectors, which are the main drivers of office demand in major Indian cities.
