India Office Market Hits Record High as GCCs Claim 45% Leases

In a landmark year for commercial real estate, Global Capability Centers have solidified their role as the powerhouse behind India's office leasing surge. The sector's share jumped to 45% in 2025 from 41% last year, driving total leases to a historic 78.2 million square feet nationwide.

A new report highlights GCCs' absorption of 34.9 million square feet, a 20% increase from 2024. This growth persists amid international uncertainties, with India's market bucking trends through policy support and visa constraints that favor domestic operations.

IT remains the leasing kingpin at 38%, but BFSI and flexible workspaces are gaining ground at 14% apiece, reflecting broader sectoral shifts. Notably, GCCs made up more than 50% of IT-ITeS lessees and 60% of their value-based space take-up.

City-wise, Bengaluru commands 32% of GCC activity, Hyderabad 19%, showcasing Tier-1 hubs' dominance. With vacancy rates stabilizing and new supply aligning with demand, projections point to 85-90 million square feet in leasing by end-2026.

This boom not only validates India's skilled workforce appeal but also positions the country as resilient against global volatility, promising job creation and infrastructure upgrades in key markets.