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Time of India
26-05-2025
- Business
- Time of India
Office rent rises 28 pc in MMR, 24% in Hyderabad, 20% in Delhi-NCR in past 2.5 years: Anarock
Office rents in Mumbai surged 28% in the last 2.5 years, driven by high demand for premium spaces despite global economic uncertainties. Major metros like Delhi-NCR and Hyderabad also saw significant rental growth, fueled by a post-pandemic rebound and a push for return to office. Notably, US companies are major drivers of office space leasing in India. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Office rent grew 28 per cent in Mumbai Metropolitan Region in the last two and a half years on higher demand for prime workspaces despite global economic uncertainties, according to its report, real estate consultant Anarock said that rental values are showing healthy growth across major metros as businesses push harder for a full-fledged return to office life."Notably, the US, which is seeing considerable business policy uncertainty, accounts for 45 per cent of total office space leasing in India - ahead of all other countries," said Peush Jain, MD - Commercial Leasing & Advisory at Anarock Mumbai, he said, US-based banks contribute as much as 48 per cent of BFSI leasing."American companies' appetite for prime Indian Grade A office spaces remains undiminished," Jain 2022 to 2025, a powerful post-pandemic rebound has fuelled consistent and growing demand for premium workspaces - especially in hotspots like MMR, Delhi-NCR, and Hyderabad, the consultant MMR, the average monthly office rent has risen to Rs 168 per square feet from Rs 131 per square feet in has registered a 20 per cent growth in rent from Rs 92 to Rs 110 per sq saw a growth in office rental values of 24.1 per cent to Rs 72 from Rs 58 per square rent in Bengaluru rose 16 per cent to Rs 95 per sq ft from Rs 82 in and Chennai markets showed only moderate rental growth of 11.1 per cent and 9.1 per cent, respectively. The office rent in Pune is Rs 80 per sq ft and in Chennai Rs 72 per square on the data, Shesh Rao Paplikar, Founder & CEO of BHIVE workspaces, said, "The 16 per cent increase in office rentals in Bengaluru signals a resilient rebound in commercial real estate , driven primarily by strong demand from technology, GCCs (Global Capability Centers), and flexible workspace providers."This rental surge reflects rising confidence in India's talent ecosystems, infrastructure upgrades, and return-to-office mandates, he Chilukuri, Founder & MD of Stonecraft Group, said, "The surge in office rentals across India's major cities signals a renewed business confidence and a decisive shift toward future-ready workspaces. Hyderabad's impressive 24 per cent growth highlights its transformation into a go-to hub for tech and innovation-driven enterprises, backed by strong infrastructure and a dynamic talent pool."
Time of India
24-05-2025
- Business
- Time of India
Top six cities sees average growth of 18% in office space rents in three years
NEW DELHI: India's top six cities have recorded an average rental growth of 18.35% between 2022 and 2025 for office spaces, according to Anarock data. Mumbai Metropolitan Region (MMR) office rental values have surged by 28% from ₹131 per sq ft in 2022 to ₹168 in 2025, outpacing other top metro markets. Hyderabad emerged as the second-fastest growing rental market boosted by a strong IT corridor, cost competitiveness, and investor-friendly policies. The post-pandemic revival, supported by a sustained return-to-office movement and strong demand from Global Capability Centres (GCCs), tech firms, and BFSI players, has fueled robust growth in rental values across key business hubs. 'Notably the US, which is seeing considerable business policy uncertainty, accounts for 45% of total office space leasing in India – ahead of all other countries,' says Peush Jain, MD - Commercial Leasing & Advisory, Anarock Group. 'GCCs have become the single-biggest transformation driver on India's office leasing landscape. Our data shows that in Q1 2025 alone, GCCs leased a staggering 8.35 million sq ft, with Delhi-NCR capturing close to 23% of that demand. Over the past two years, they have accounted for over 37% of all office leasing across the top seven cities," said Jain Rental growth across six cities (2022–2025) MMR: Office rental values in the Mumbai Metropolitan Region rose 28%, from ₹131 to ₹168 per sq ft, making it the most expensive commercial market in India. Hyderabad: Rentals surged by 24.1%, climbing from ₹59 to ₹72 per sq ft, driven by a booming IT corridor and pro-investor policies. Delhi NCR: The region saw a 20% increase in rentals, from ₹92 to ₹110 per sq ft, supported by infrastructure growth in Noida and Gurugram. Bengaluru: Office rents grew 15.8%, with values rising from ₹101 to ₹117 per sq ft, fuelled by consistent tech sector demand. Pune: Rentals rose 11.1%, from ₹81 to ₹90 per sq ft, reflecting steady demand in IT and industrial zones. Chennai: The city registered a more measured 9.1% growth, with rentals moving from ₹77 to ₹84 per sq ft, indicating stable absorption in key business districts. The future of work in India is not remote but reimagined. The hybrid work model has matured - not as a shift away from offices, but as a strategic blend of physical and flexible spaces. This evolution has ensured a strong leasing pipeline, particularly in tech parks, co-working hubs, and Jain, Anarock Group The consistent rise in rentals, particularly in cities with controlled capital value growth like Hyderabad and Delhi NCR, has led to improved rental yields. With REITs gaining investor traction and absorption levels surpassing pre-COVID benchmarks, investor sentiment remains bullish.
Time of India
24-05-2025
- Business
- Time of India
BM Property: Bengaluru reigns supreme in GCC office leases Q1 2025
real estate consultancy ANAROCK Bengaluru has once again cemented its position as India's leading hub for Global Capability Centres (GCCs), accounting for the largest share of gross office space leasing among the top seven Indian cities in the first quarter of to the latest data from, Bengaluru alone accounted for approximately 3.3 million sq. ft. of the 8.35 million sq. ft. gross office space leased by GCCs in Q1 2025 — capturing a commanding 40% share, the highest among all cities. Together with Chennai and Hyderabad, the southern cities made up a dominant 64% of GCC leasing activity.'Bengaluru continues to attract strong interest from GCCs, thanks to its deep talent pool and established tech ecosystem,' said Peush Jain, Managing Director Commercial Leasing & Advisory at ANAROCK Group. 'The city led the charts with 3.3 million sq. ft. in Q1 2025, followed by Delhi-NCR with 1.91 million sq. ft. and Chennai with 1.22 million sq. ft.'Overall, gross office leasing across India's top seven cities touched 19.47 million sq. ft. in the first quarter, with GCCs contributing a significant 43% share. This marks a sharp 72% year-on-year growth compared to Q1 2024, when GCCs leased around 4.87 million sq. the IT/ITeS segment continued to dominate leasing demand, accounting for 35% of GCC office space transactions. The Banking, Financial Services and Insurance (BFSI) sector followed with a 22% share, while manufacturing and industrial firms made up 13%. E-commerce and consultancy sectors contributed 6% and 5%, respectively.'While IT/ITeS remains the main driver, the growing presence of BFSI and manufacturing firms signals a healthy diversification in the GCC ecosystem,' Jain of the end of 2024, India hosted over 1,700 operational GCCs across its major cities, employing between 1.7 and 1.8 million professionals and valued at approximately USD 52 billion. With the current momentum, ANAROCK estimates the number of GCCs will rise to over 1,900 by the end of 2025, with a market value between USD 60–70 ahead, India could see 2,200 to 2,300 GCCs by 2030, potentially employing up to 2.8 million people and generating a market value of USD 100–110 strong performance reinforces its strategic role in India's global services landscape. While Tier 2 and Tier 3 cities like Kochi, Coimbatore and Ahmedabad are emerging as alternatives, Bengaluru remains the preferred location for both new entrants and expanding global city's gross leasing by GCCs rose from 2.82 million sq. ft. in Q1 2024 to 3.3 million sq. ft. in Q1 2025, reaffirming its leadership. Delhi-NCR posted a remarkable jump from 0.49 million sq. ft. to 1.91 million sq. ft., while Chennai, which had no GCC leasing activity in Q1 2024, recorded a robust 1.22 million sq. ft. this key cities saw varied performance. Mumbai and Pune recorded 0.6 million sq. ft. and 0.45 million sq. ft., respectively. Hyderabad experienced a drop, from 1.22 million sq. ft. to 0.82 million sq. ft., and Kolkata entered the segment with 0.05 million sq. ft. of leasing in Q1 its tech-driven ecosystem, skilled workforce, and well-developed infrastructure, Bengaluru is poised to maintain its lead as India's undisputed GCC capital in the years ahead.
United News of India
23-05-2025
- Business
- United News of India
MMR's office rental values zoom 28 pc from 2022 to 2025, Hyderabad Next with 24.1 pc
Mumbai, May 23 (UNI) Despite global macroeconomic upheavals and uncertainties, India's commercial real estate market remains on a remarkable upswing, according to the latest ANAROCK data saying the rental values are showing healthy growth across major metros as businesses push harder for a full-fledged return to office life. 'Notably the US, which is seeing considerable business policy uncertainty, accounts for 45 percent of total office space leasing in India – ahead of all other countries,' said Peush Jain, MD - Commercial Leasing & Advisory, ANAROCK Group. 'In Mumbai, US-based banks contribute as much as 48% of BFSI leasing. American companies' appetite for prime Indian Grade A office spaces remains undiminished.' he said. From 2022 to 2025, a powerful post-pandemic rebound has fuelled consistent and growing demand for premium workspaces—especially in hotspots like the Mumbai Metropolitan Region (MMR), Delhi NCR, and Hyderabad. After a brief (COVID) pandemic-induced pause, India's commercial real estate market has gone from quick recovery into a new growth phase. As hybrid models give way to more traditional, structured in-office operations, companies are doubling down on their presence in prime business districts. The result has been a surge in demand for Grade A office spaces, driven by a mix of Global Capability Centres (GCCs), tech giants, and BFSI leaders. 'GCCs have become the single-biggest transformation driver on India's office leasing landscape,' said Jain. 'Our data shows that in Q1 2025 alone, GCCs leased a staggering 8.35 million sq. ft., with Delhi NCR capturing close to 23 pc of that demand. Over the past two years, they have accounted for over 37 pc of all office leasing across the top 7 cities, signalling a long-term commitment to the country's metropolitan business ecosystems. Meanwhile, the Mumbai Metropolitan Region (MMR) has emerged as the most expensive commercial market in India, with rental values soaring 28 pc from Rs 131 per sq. ft. in 2022 to Rs 168 in 2025. Prime micro-markets like Bandra-Kurla Complex (BKC), Lower Parel, and Andheri East continue to attract top-tier demand from finance, IT/ITeS, and startup sectors. Delhi NCR: registered a strong rise from Rs 92 to Rs 110/sq. ft. (20 pc) – driven primarily by infrastructure projects and rising demand in Noida and Gurugram. Hyderabad: The city saw notable growth in office rental values – a 24.1 pc increase over four years - benefiting from its affordability, proactive government policies, and its thriving IT corridor. Bangalore: The tech capital saw a 15.8 pc increase, with Whitefield, ORR, and Electronic City continuing to attract global occupiers. Pune and Chennai: These showed only moderate rental growth of 11.1 pc and 9.1 pc respectively, mirroring the steady but controlled growth in their IT/ITES and industrial sectors. Steady growth in commercial office rentals is improving rental yields, particularly in cities like Hyderabad and Delhi NCR, where capital values remain competitive. With REITs gaining traction and office absorption back to pre-pandemic levels, investor sentiment in the commercial space remains optimistic despite global headwinds. 'The overall sentiment in India's commercial real estate (CRE) market remains resilient and optimistic,' says Peush Jain. 'The future of work in India is not remote but reimagined. The hybrid work model has matured - not as a shift away from offices, but as a strategic blend of physical and flexible spaces. This evolution has ensured a strong leasing pipeline, particularly in tech parks, co-working hubs, and SEZs. As demand continues to outpace supply in prime micro-markets and India ramps up its stature as a global outsourcing powerhouse, rental values will continue to rise consistently. UNI PC BM
Hans India
23-05-2025
- Business
- Hans India
Hyderabad Office Rents Surge 24% as MMR Leads with 28% Growth
Hyderabad has emerged as one of the fastest-growing commercial office rental markets in India, with rents increasing by 24.1 per cent from 2022 to 2025. Rental values in the city rose from Rs 59 per square foot per month in 2022 to Rs 72 in 2025. Leading the nationwide surge in rental rates, the Mumbai Metropolitan Region (MMR) witnessed the highest jump, with rental values climbing 28 per cent over the same period. Rentals in MMR increased from Rs 131 in 2022 to Rs 168 in 2025. High-demand micro-markets such as Bandra-Kurla Complex, Lower Parel, and Andheri East remain preferred locations for sectors like finance, IT/ITeS, and startups. Delhi NCR followed with a robust 20 per cent increase, as rents rose from Rs 92 to Rs 110 per square foot, driven by growing demand in Gurugram and Noida supported by new infrastructure projects. Bangalore recorded a 15.8 per cent rise in rental rates, anchored by sustained interest in Whitefield, Outer Ring Road, and Electronic City from global occupiers. Pune and Chennai experienced more moderate rental growth of 11.1 per cent and 9.1 per cent, respectively, reflecting steady expansion in their IT/ITES and industrial segments. Despite ongoing global economic challenges, India's commercial real estate market has demonstrated resilience, bouncing back from the pandemic-induced slowdown. Increasing demand for premium office space is evident as companies transition from hybrid work models back to structured in-office environments. This shift is particularly evident among Global Capability Centres (GCCs), technology giants, and BFSI sector players. Peush Jain, Managing Director of Commercial Leasing and Advisory at ANAROCK Group, noted that in the first quarter of 2025, GCCs leased an impressive 8.35 million square feet of office space, with Delhi NCR alone accounting for nearly 23 per cent of this demand. Over the last two years, GCCs have contributed more than 37 per cent of office leasing across India's top seven cities, highlighting a sustained commitment to expanding operations in metropolitan hubs. Investor confidence is strengthening as rental yields improve, especially in Hyderabad and Delhi NCR, where capital values remain competitive. The return of office space absorption to pre-pandemic levels, alongside growing traction in Real Estate Investment Trusts (REITs), signals optimism in the commercial property sector despite global uncertainties. According to Jain, India's commercial real estate landscape is evolving with the hybrid work model maturing into a strategic combination of physical office spaces and flexible arrangements. This has maintained a strong leasing pipeline, particularly in technology parks, co-working hubs, and special economic zones. As demand continues to surpass supply in prime micro-markets, India's growing role as a global outsourcing hub will likely keep driving rental values upward. The commercial property market remains a key area of focus for businesses seeking strategic locations and investors aiming for long-term growth.
