India’s commercial real estate sector is experiencing a significant surge, largely propelled by the rapid expansion of Global Capability Centres (GCCs) by international corporations. A joint report by CBRE and Zyoin underscores this trend, revealing a notable increase in demand for office space across major Indian cities.
Since 2022, global firms have committed to leasing approximately 53 million square feet of office space in key metropolitan areas including Bengaluru, Hyderabad, Chennai, Pune, Delhi-NCR, and Mumbai. This substantial uptake reflects a strategic shift towards establishing and expanding GCCs within India, which are pivotal in supporting international operations and innovation. Among these burgeoning markets, Delhi-NCR has emerged as a particularly attractive hub, largely driven by developments along the Noida Expressway. The expressway’s infrastructure has been instrumental in making Noida and its surroundings highly desirable for commercial investments. The region’s accessibility, coupled with its robust infrastructure, has positioned it as a focal point for multinational corporations seeking to enhance their operational efficiencies through well-located GCCs.
The influx of global companies setting up or expanding their GCCs has invigorated the commercial real estate landscape in India, leading to heightened demand for premium office spaces. This trend is further supported by the strategic importance of GCCs, which play a crucial role in delivering technology-driven solutions, business process outsourcing, and other critical functions for their parent companies. Real estate experts highlight that this boom is not only reshaping the office space market but also driving broader economic growth in these urban centres. The expansion of GCCs contributes to job creation, technological advancement, and increased economic activity, reinforcing India’s position as a key player in the global business landscape.
As the commercial real estate sector continues to evolve, stakeholders are closely monitoring these developments, anticipating sustained growth and investment opportunities. The emphasis on strategic locations, such as those along the Noida Expressway, underscores the shifting dynamics of India’s real estate market and its growing appeal to global enterprises.
