South India’s office market is booming, led by Bengaluru, Hyderabad, and Chennai, with strong demand from multinational companies (MNCs) and global capability centers (GCCs), particularly in the IT sector. These cities accounted for 54-56% of India’s office space absorption in 2022-23, expected to rise further. GCCs are driving office leasing, with Bengaluru and Hyderabad leading. New Grade A supply in these cities represented about 65% of 2023’s total. Kochi and Thiruvananthapuram are also emerging as fast-growing cities. Companies like WeWork and RMZ are expanding rapidly, catering to the growing demand.
South India’s Office Market Surges, Fueled by Tech Sector and GCCs
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