Corporations Commit to 10.8 Million Sq Ft of Office Space in India through 38 Transactions: Report

Key Takeaways

Corporations pre-committed 10.8 million sq ft of office space.
38 deals were made during October 2024 to March 2025.
Bengaluru accounted for 53% of pre-committed space.
Demand driven by Indian firms and global MNCs.
42% of deals were for spaces larger than 0.3 million sq ft.

New Delhi, April 25 (NationPress) Corporations have pre-committed approximately 38 office space transactions, encompassing a total area of around 10.8 million square feet during the six-month span from October 2024 to March 2025, according to a report released on Friday.

These agreements were made by firms located in Bengaluru, Mumbai, and the National Capital Region (NCR), as highlighted in the report by Anarock.

“The heightened demand from both Indian enterprises and international MNCs, alongside evolving workplace requirements such as cutting-edge tech infrastructure and ESG compliance, has propelled this pre-commitment trend,” stated Peush Jain, Managing Director of Commercial Leasing and Advisory at Anarock Group.

A rising number of global capability centres (GCCs) are also anticipated to further fuel demand, as companies seek expansive, high-quality workspaces that enable them to preserve their distinct identity.

Bengaluru took the lead in this trend with nearly 5.7 million sq. ft. of pre-committed space, representing 53 percent of the total, followed by Mumbai with 3.1 million sq. ft. (29 percent) and NCR with 2 million sq. ft. (19 percent).

These three metropolitan areas are home to numerous domestic firms and multinational corporations (MNCs) in sectors including technology, banking, financial services, insurance (BFSI), and co-working.

Due to a shortage of quality Grade A+ office space over the past two years, many companies have opted to secure their future offices through pre-commitment agreements.

These contracts, signed during the construction phase of a project, enable companies to secure prime locations, negotiate favorable lease terms, and mitigate potential future rental increases.

Bengaluru recorded the largest average deal size, with corporations committing to approximately 0.5 million sq. ft. per agreement.

In Mumbai, the average deal size was 0.4 million sq. ft., while in NCR, it was around 0.1 million sq. ft.

The report indicated that 42 percent of the total deals were for spaces exceeding 0.3 million sq. ft.

Bengaluru led with the highest number of such significant transactions at nine, followed by Mumbai with four and NCR with three.

The majority of these agreements were executed by global firms in the IT/ITeS and BFSI sectors, which are aiming to expand their footprint in India.