Large global firms are playing a bigger role in India’s office property market, with global capability centres emerging as a key demand driver. These centres accounted for 41% of total office leasing across India’s top 7 cities this year, reflecting their rising importance in the commercial real estate landscape.
Data from a property research firm shows this share has increased from 36% in 2024. The cities tracked include Bengaluru, Mumbai Metropolitan Region, National Capital Region, Chennai, Hyderabad, Pune and Kolkata. The growing footprint of GCCs highlights India’s continued appeal as a destination for long term corporate operations.
“Drawn by India’s economic strength, stability and cost advantages, major US corporates are snapping up massive office spaces across our key cities,” said Peush Jain, managing director commercial leasing and advisory at the property consultancy group. This surge in GCC driven demand helped push net office absorption across the 7 cities to a record 55.16 million square feet in 2025, marking a 10% rise from the previous year, despite challenges such as IT layoffs and geopolitical uncertainty.
Bengaluru remained the largest office market with net absorption of 14.15 million square feet, even though the city saw a 5% annual decline. Pune emerged as the fastest growing market, recording a 63% jump in absorption to 7.8 million square feet. By sector, IT and IT enabled services led demand with a 27% share, followed by co working operators at 23% and BFSI firms at 18%. Average monthly rentals rose 6% to Rs. 92 per square foot, with Bengaluru seeing the highest increase at 9%.
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