Domestic office market surges as India becomes hub for global occupiers
Live MintIndia’s commercial real estate skyrocketed last year primarily on the back of swelling demand from global firms scouring the country for office spaces, according to reports by top property consultants. Across India’s top nine cities, overall office leasing recorded a historical high of 79 msf in 2024, according to a report by CBRE, a real estate services and investment firm. GCCs leased 29.4 msf of office space in India in 2024, accounting for about 37% of the overall leasing activity across India’s top nine cities, a 29% year-on-year growth. “The sustained demand for premium office spaces, coupled with occupiers’ confidence, has propelled transaction volumes to historic highs," said Shishir Baijal, chairman and managing director, Knight Frank India.