Table of Contents
Quality Service Guarantee Or Painting Free

Get a rental agreement with doorstep delivery

Find the BEST deals and get unbelievable DISCOUNTS directly from builders!

5-Star rated painters, premium paints and services at the BEST PRICES!
Loved what you read? Share it with others!


Submit the Form to Unlock the Best Deals Today

Check Your Eligibility Instantly

Experience The NoBrokerHood Difference!
Set up a demo for the entire community

Commercial Rents Soar in Major Indian Cities by 20%
Table of Contents
Nationwide - May 10, 2024: A recent report has revealed a significant surge in commercial real estate rents across some of India's biggest cities. Key markets like Bengaluru, Pune, NCR (National Capital Region), and Mumbai have witnessed a remarkable 20% year-on-year increase in rental prices for office spaces. This upward trend reflects a robust demand for office space driven by several factors.
The "Return to Office" and Evolving Workplace Strategies
The COVID-19 pandemic led to a significant shift towards remote work. However, with the easing of restrictions and a renewed focus on collaboration, many companies are implementing a "return to office" strategy. This has fueled a demand for high-quality office space, particularly in prime locations with good connectivity and amenities.
Global Capability Centers Drive Demand
The report also highlights the growing influence of Global Capability Centers (GCCs) on India's office space market. GCCs are multinational companies that establish offshore units in India to handle specific functions like IT, finance, and customer service. The increasing number of GCCs setting up shop in major cities has significantly contributed to the rise in demand for commercial real estate.
Quality Service Guarantee Or Painting Free

Get a rental agreement with doorstep delivery

Find the BEST deals and get unbelievable DISCOUNTS directly from builders!

5-Star rated painters, premium paints and services at the BEST PRICES!
Cities Leading the Charge
The report dives deeper, analyzing city-specific trends. Bengaluru and Hyderabad emerged as the frontrunners, collectively accounting for nearly half of the total leasing activity and three-fourths of the new office space supply in the first quarter of 2024. This indicates a particularly strong demand for office space in these two southern IT hubs.
Maintaining Market Equilibrium
While rental rates have risen, a healthy balance seems to be maintained. The report highlights that vacancy levels remained stable across key markets, indicating a robust equilibrium between supply and demand. This suggests that the rental surge hasn't resulted in a shortage of available office space.
The Rise of Flex Spaces
The report also acknowledges the growing popularity of flex spaces – flexible and customizable workspaces that cater to startups, freelancers, and companies with fluctuating space needs. With 8.7 million square feet leased in 2023, the flex space segment has witnessed significant growth, and it's expected to maintain this momentum in 2024, potentially constituting 15-20% of total office space leasing in the top six cities. This trend signifies a growing preference for cost-effective and adaptable workspace solutions.
Looking Ahead: A Dynamic Market
The commercial real estate market in India is experiencing a period of dynamism. The surge in rental rates reflects a strong demand for office space, particularly in key cities. However, factors like the rise of flex spaces indicate an evolving landscape where adaptability and cost-effectiveness are increasingly valued. It will be interesting to see how this market evolves in the coming years, with factors like "return to office" strategies, the growth of GCCs, and the flex space segment playing a key role in shaping the future of Indian commercial real estate.
Loved what you read? Share it with others!
Most Viewed Articles

Building Setback: Meaning, Significance and Rules
January 31, 2025
50130+ views

House Price Graph Last 20 Years India: Trends, Factors, and Future Predictions
January 31, 2025
16871+ views
ERP Solutions for Society: A Game-changer For Society Living
January 31, 2025
4387+ views

Scorching Heat & Dwindling Supplies: Delhi's Water Crisis Heats Up with ₹2,000 Fines for Wastage!
January 31, 2025
4112+ views

Builders must use technology to make new age apartments sell-able post coronavirus
August 13, 2020
3785+ views
Recent blogs in
टाइनी हाउस मूवमेंट (छोटे घरों में रहने का अभियान)
January 31, 2025 by NoBroker.com
क्या आपने प्रॉपर्टी मैनेजमेंट कंपनियों के बारे में सुना है? उनसे जुड़ी सभी ज़रूरी जानकारी
January 31, 2025 by NoBroker.com
मालमत्ता व्यवस्थापन कंपन्यांविषयी तुम्ही ऐकले आहे का? आपल्याला ही माहिती असणे आवश्यक आहे.
January 31, 2025 by NoBroker.com
Join the conversation!