Page 2 - Office Space

Top 10 micro markets to drive 80% of India's office space growth: Colliers

A Colliers report finds that high-activity micro markets will drive the bulk of office demand and supply growth, fuelled by flex space, GCC traction and REIT-worthy stock

WeWork India expands footprint in Pune & Chennai, adds over 200K sq ft

WeWork India has secured its third location in Chennai since entering the market just over a year ago

Prime Fund buys Saket's Prius Platinum office asset from Kotak Alt

PRIME Fund acquires 0.3 million sq ft office space in South Delhi's Saket from Kotak consortium, aiming to build a sustainable, high-yield commercial portfolio

Google renews Bengaluru office lease for five years at ₹90 crore rent

The tech giant has renewed its lease on 8.7 lakh sq ft at Bagmane Capital Business Park, paying ₹7.5 crore monthly for space across Kyoto East and West Towers

IWG to launch premium brand Signature, expand India footprint rapidly

IWG to launch its premium brand Signature in India in coming years and aims to add 40-50 centres by 2025, with a focus on Tier II and III cities and strategic acquisitions

TCS leases Hyderabad commercial space for Rs 4.37 crore a month

The 15-year lease covers 10.2 lakh sq ft at Rs 43 per sq ft with a rent hike of 12 per cent every three years and a deposit of Rs 26.2 crore paid upfront

Coping with rising rentals: Research areas, opt for longer leases

A recent Reuters poll of housing experts also indicated that both house prices and rentals are likely to outpace consumer inflation this year

Bengaluru leads office space commitment by corporates in Oct-Mar: Anarock

About 10.8 million sq ft of office space pre-committed by corporates nationally: Anarock

Bollywood actor Akshay Kumar sells office space in Mumbai for Rs 8 crore

According to the documents registered with the Inspector General of Registration (IGR), the office space is located in One Place Lodha

Green office inventory to touch 700 msf in next two to three years

Currently, two-thirds of Grade A office stock is already green-certified across the top six cities, with these buildings having higher occupancy levels at 80 to 90 per cent

India's office leasing in Q1CY25 hits 19.46 mn sq ft, up 28.4%: JLL

Gross leasing refers to all lease transactions recorded during the period, including confirmed pre-commitments, but not term renewals and deals in the discussion stage

Bengaluru-based Table Space sees 41% growth in total portfolio in FY25

Table Space, which competes with co-working office providers like Awfis, Bhive, Indiqube and Smartworks, among others, has seen its overall space expand to 10.5 million sq ft

Top 7 Indian cities see 4-8% rise in office rent in 2024: Vestian

The rent for office spaces in India's seven major cities rose 4-8 per cent annually in 2024 while the eight big overseas markets saw a mixed trend in rental growth, according to Vestian. As per the data by real estate consultant Vestian, the average office rent in New York fell 1.3 per cent in 2024 to USD 7.5 per square feet per month. Shanghai saw a decline of 6.8 per cent to USD 2.8 per square feet per month, while Hong Kong witnessed a fall of 6 per cent to USD 5.9 per square feet a month. Office rent in Seattle dipped 1.9 per cent in 2024 to USD 4.7 per square feet per month. However, the average office rentals rose in London by 8.6 per cent to USD 8.6 per square feet per month. Miami saw a 7.3 per cent increase in office rent in 2024 to USD 5.1 per square feet per month, while Boston witnessed a 1.2 per cent rise to USD 5.5 per square feet per month. The average office rent in Singapore inched up 0.5 per cent in 2024 to USD 7 per square feet per month. Vestian CEO Shrinivas

Co-working office space leasing drops 43% in Jan-Mar across 9 cities: CBRE

Leasing of office space by co-working operators declined 43 per cent annually to 21.6 lakh square feet in January-March quarter this year across nine major cities, according to CBRE. The co-working space operators, who mainly provide managed flexible workpace to corporates of all sizes, had rented 37.6 lakh sq ft office space in the year-ago period. Real estate consultant CBRE data showed that the share of co-working space operators in the total office leasing transactions declined to 12 per cent in the latest March quarter from 22 per cent in the year-ago period. The co-working players take office on rent from property owners to establish their centres and then sub-lease to clients that are mainly corporates. WeWork India, Smartworks, listed-firm Awfis, Incuspaze, Simpliwork Offices, and IndiQube are some of the major co-working players. The demand for flexible managed workspace has risen significantly after the Covid pandemic. Overall, the total gross leasing of office space ros

Flexspace provider IndiQube gets Sebi approval for Rs 850 crore IPO

Backed by venture capital firm WestBridge Capital and noted investor Ashish Gupta, IndiQube operates with 103 centres across 13 cities

BFSI sector leases 13.4 msf of office space in 2024, up 19% from 2023: JLL

Foreign BFSI firms accounted for 68.3 per cent of total BFSI leasing in 2024

Hanto Workspaces revenue to grow 40% to Rs 30 cr in FY25 on demand

Hanto Workspaces is expecting over 40 per cent increase in revenue this fiscal year to Rs 30 crore on rising demand for flexible managed office space. Bengaluru-based Hanto Workspaces had posted a revenue of Rs 21 crore in the 2023-24 fiscal year. "We are likely to post a revenue of around Rs 30 crore during this fiscal year. There is a huge demand for managed flexible workspaces in Bengaluru," Hanto Workspaces Founder Aashit Verma told PTI. He said the company has expanded its portfolio and also improved occupancy rates, helping it achieve higher revenues. At present, Verma said the company has 15 co-working facilities in Bengaluru covering 3 lakh square feet area and 6,000 seating capacity. The company charges between Rs 7,000 and Rs 18,000 per desk from corporate clients. Verma said the company is looking to strengthen its portfolio in Bengaluru and also exploring to enter other major cities. He said the company also intends to raise funds to expand business and future growth

Office space demand may rise 5% in top 6 cities to 70 mn sq ft: Colliers

Demand for office space in India's top six cities is expected to remain strong this calendar year with gross leasing transactions estimated at 650-700 lakh square feet, according to Colliers India. The gross leasing of office space stood at record 664 lakh square feet in 2024 calendar year across Delhi-NCR, Mumbai, Bengaluru, Pune, Hyderabad and Chennai. Real estate consultant Colliers India on Tuesday released its report 'India Office: Setting New Standards for 2025' at the FICCI 18th Real Estate summit here. India's top six cities have witnessed significant scale-up in office leasing and supply, helping office market set new records in successive years. "The scale-up, mainly driven by evolving occupier preferences is likely to gain further momentum, with gross leasing across the top six cities projected to reach 65-70 million (650-700 lakh) sq ft in 2025," the consultant said. The surge in overall leasing volume is likely to be driven by diversification of occupier base, continu

Mindpsace REIT buys 18.2L sq ft Hyderabad office complex for Rs 2,038 cr

Realty firm Mindspace Business Parks REIT has acquired Sustain Properties, which owns 18.2 lakh office space in Hyderabad, at an enterprise value of Rs 2,038 crore as part of its plan to expand rent-yielding portfolio. Mindspace REIT will acquire 100 per cent equity in Sustain Properties Pvt Ltd at an equity value of Rs 613 crore. The shareholders of Sustain Properties will be allotted units in Mindspace REIT as consideration. The deal is expected to close by the end of March. In a regulatory filing, Mindspace REIT informed that the board has approved "acquisition of 100 per cent equity shareholding of Sustain Properties holding about 1.82 million (18.2 lakh) square feet of leasable area at 'Commerzone Raidurg', located at Raidurg, Hyderabad, from the shareholders of Sustain. The office space has been leased to Qualcomm. The board has approved the issuance of up to 16,168,090 units of Mindspace REIT, on a preferential basis, as consideration for acquisition at a price of Rs 379.08

Flexible workspace operators bullish on growth, raise equity: Report

Flexible office space providers are bullish on demand for managed workspace during 2025 as corporates look for agile and cost-effective solutions to reduce overheads. Many flexible workspace operators are expected to hit capital markets this year to raise funds for the expansion of their businesses. The overall gross leasing of office spaces across major seven cities hit an all-time high in 2024. The gross leasing of office space rose 19 per cent to a record 885.2 lakh square feet across eight major cities, according to Cushman & Wakefield. Flexible office space operators rented substantial space from real estate developers and property owners for renting out to small, medium and large enterprises. Bengaluru-based operator Simpliwork Offices CEO and Founder Kunal Walia said the company will keep expanding its portfolio across major cities to meet the rising demand for flexible workspaces. "Companies are increasingly seeking agile, cost-effective solutions to adapt to the evolving