20-05-2025
Three southern cities dominate GCC space leasing in Jan-March quarter, says study
Bengaluru, Chennai and Hyderabad, the top three southern cities dominated Global Capacity Centre (GCC) space leasing in the January-March 2025 quarter according to a study by Anarock.
Of total 8.35 million sq. ft. gross office spaces GCCs in top seven cities during the quarter Bengaluru, Chennai and Hyderabad collectively leased approx. 5.34 million sq. ft.; Delhi-NCR saw 1.95 million sq. ft. gross space leased to GCCs, as per the study.
Gross leasing of overall office space in top seven cities at 19.47 million sq. ft. in the quarter , with GCCs comprising a 43% share (8.35 million sq. ft.).
In the same period last year GCCs leased approx. 4.87 million sq. ft. space, up 72% year on year.
'IT/ITeS held a 35% share of overall GCC leasing this year, followed by BFSI with 22%, and manufacturing and industrial with 13%,' Anarock said.
The top seven cities together had 1,700+ GCCs by 2024-end, with a market value of approx. $52 billion and housing 1.70-1.80 million working professionals.
Amid high demand, total number of GCCs in top cities may hit 2,200-2,300 by 2030 with a market size of $100-110 billion and 2.4-2.8million employees, the study emphasised.
Mid-sized GCCs for 1,000-2,000 employees appear to dominate upcoming influx in India, it pointed out.
A ramp up of presence of GCCs have been seen on India's commercial real estate landscape in the last few years, with
A government initiative announced in the last Union Budget is accelerating this trend.
The Union Budget 2025-26 had made a provision for a National Framework to provide guidance to states for promoting Global Capability Centres in emerging tier 2 cities. The taskforce has been assigned the task to suggest 16 measures for enhancing availability of talent and infrastructure, building-byelaw reforms, and mechanisms for collaboration with industry.
As per Anarock study top cities are witnessing escalating demand from both new GCC entrants and those expanding their existing operations.
Peush Jain, MD, Commercial Leasing & Advisory, ANAROCK Group, said, 'City-wise data indicates that Bengaluru leads in gross leasing by GCCs in Q1 2025 with a 40% share, or approx. 3.3 million sq. ft., followed by Delhi-NCR with a 23% share - or approx. 1.91 million sq. ft. and Chennai with 1.22 million sq. ft., or a 15% share.'
