Big deals keep office space vibrant

Large-sized deals, of over 100,000 sq ft, continue to drive India’s commercial office market. They have accounted for around half of the Grade-A office space demand every year from 2021. In the first half of calendar 2025, the segment accounted for 51% of the office deals, driven by demand from multinational firms.

WHY LARGE DEALS MATTER

Consistent share since 2021 enabling long-term commitments

WHAT’S DRIVING THE MOMENTUM?

• India’s Talent Advantage
• Availability of large floor plates in Grade-A developments
• Competitive rentals vs global markets

INDIA: THE MNC MAGNET

• GCCs projected to grow from 1,800 to 2,400 centres by 2030
• Policy push, infrastructure investment and state-level incentives
• Tech, BFSI, and engineering R&D firms continue expansion
• Resilient demand despite global headwinds

TOP DEAL MAKERS

• Google
• Salesforce
• Qualcomm
• TCS

OUTLOOK
Large deals to remain the driving force of India’s office market

EXPERT TAKE

"Despite current headwinds, we expect technology occupiers to maintain the leasing momentum throughout 2025 and fuel commercial real estate in India, mainly supported by expansion of GCCs. Meanwhile, strong IT talent pool and cost arbitrage will continue to be the differentiating factors for Indian office market."

ARPIT MEHROTRA, MD, Office Services, Colliers India