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Time of India
2 days ago
- Business
- Time of India
Office leasing by co-working operators in Jan-Jun up 48% to 65 lakh sq ft in top 7 cities: Colliers
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Co-working centre operators have rented 65 lakh square feet of office space during the January-June period this year across seven major cities, up 48 per cent on an annual basis, on rising demand for managed and flexible workspaces from corporates, according to Colliers India Co-working operators leased 44 lakh square feet in the corresponding period of 2024 calendar year across seven cities -- Delhi-NCR, Mumbai, Kolkata, Chennai, Hyderabad, Pune and co-working operators take office spaces on rent from real estate developers and property owners and then sub-lease it to corporates of all many corporates have started opting managed office space provided by co-working operators to save cost and hassles, a large number of companies still take conventional workspaces directly from builders and property India data showed that the total gross leasing or absorption of office space rose 13 per cent to 337 lakh (33.7 million) square feet during January-June 2025 across these seven cities, from 299 lakh (29.9 million) in the year-ago period."Flexible spaces are increasingly establishing themselves as a key demand driver in India's office market. Given the current momentum, flex spaces are likely to define contours of commercial real estate in India throughout 2025 and beyond," said Vimal Nadar, National Director and Head of Research, Colliers on the data, Darshan Govindaraju, Executive Director at Bengaluru-based Vaishnavi Group, said the surge in office space leasing can be attributed to the robust addition of Grade A office spaces across micro markets in the top seven cities which are attracting occupiers from across the globe."This, coupled with the sustained confidence of technology enterprises in the India growth story and the robust addition of their GCCs ( Global Capability Centers ), is helping shore up leasing in these markets," he Mehrotra, Founder of 315Work Avenue, said co-working spaces have emerged as the defining feature of India's rapidly evolving commercial real estate."There continues to be huge traction for flex space from corporates of all sizes as flexible workspace has become a key component in the overall real estate portfolio of corporates to enhance employee productivity , foster collaboration, and optimise operational costs by scaling up or down as per business requirements," he Rao Paplikar, Founder & CEO, BHIVE Workspaces, said the India growth story continues to capture the mindspace of global organisations with their continued investment in the country's technology, GCC, BFSI, insurance and other managed workspace is acting as a catalyst in driving consistent growth in office space leasing, he added.
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Business Standard
2 days ago
- Business
- Business Standard
Co-working operators' office leases up 48% in top 7 cities: Colliers
Co-working centre operators have rented 65 lakh square feet of office space during the January-June period this year across seven major cities, up 48 per cent on an annual basis, on rising demand for managed and flexible workspaces from corporates, according to Colliers India. Co-working operators leased 44 lakh square feet in the corresponding period of 2024 calendar year across seven cities -- Delhi-NCR, Mumbai, Kolkata, Chennai, Hyderabad, Pune and Bengaluru. The co-working operators take office spaces on rent from real estate developers and property owners and then sub-lease it to corporates of all sizes. Although many corporates have started opting managed office space provided by co-working operators to save cost and hassles, a large number of companies still take conventional workspaces directly from builders and property owners. Colliers India data showed that the total gross leasing or absorption of office space rose 13 per cent to 337 lakh (33.7 million) square feet during January-June 2025 across these seven cities, from 299 lakh (29.9 million) in the year-ago period. "Flexible spaces are increasingly establishing themselves as a key demand driver in India's office market. Given the current momentum, flex spaces are likely to define contours of commercial real estate in India throughout 2025 and beyond," said Vimal Nadar, National Director and Head of Research, Colliers India. Commenting on the data, Darshan Govindaraju, Executive Director at Bengaluru-based Vaishnavi Group, said the surge in office space leasing can be attributed to the robust addition of Grade A office spaces across micro markets in the top seven cities which are attracting occupiers from across the globe. "This, coupled with the sustained confidence of technology enterprises in the India growth story and the robust addition of their GCCs (Global Capability Centers), is helping shore up leasing in these markets," he added. Manas Mehrotra, Founder of 315Work Avenue, said co-working spaces have emerged as the defining feature of India's rapidly evolving commercial real estate. "There continues to be huge traction for flex space from corporates of all sizes as flexible workspace has become a key component in the overall real estate portfolio of corporates to enhance employee productivity, foster collaboration, and optimise operational costs by scaling up or down as per business requirements," he added. Shesh Rao Paplikar, Founder & CEO, BHIVE Workspaces, said the India growth story continues to capture the mindspace of global organisations with their continued investment in the country's technology, GCC, BFSI, insurance and other sectors. Flexible managed workspace is acting as a catalyst in driving consistent growth in office space leasing, he added. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
20-05-2025
- Business
- Time of India
Vaishnavi Group expands commercial real estate footprint in Bengaluru to 6 mn sq. ft.
Real estate development firm Vaishnavi Group plans to expand its commercial real estate (CRE) footprint in Bengaluru to 6 million sq. ft. over the next 3–4 years. With 2.2 million sq. ft. of existing Grade A commercial developments, the group aims to add another 3.5 million sq. ft. to cater to the growing demand for premium office spaces in the region. The expansion is part of Vaishnavi Group's larger vision to be a dominant player in South Bengaluru, where strong demand for high-quality office spaces continues to rise. The group recently completed Vaishnavi Senate, a 500,000 sq. ft. Grade A commercial office development located off the Outer Ring Road on Bannerghatta Road. Darshan Govindaraju, Executive Director at Vaishnavi Group said, "As an organisation, we are constantly exploring high-growth markets to develop Grade A assets across various real estate segments. While the Central Business District of Bengaluru has been a long-standing focus, the launch of our latest commercial project in Bannerghatta marks a significant milestone in expanding our CRE portfolio. It also reflects our commitment to offering lifestyle-centric, future-ready spaces that cater to evolving business needs and customer expectations.' A recent CBRE India Office Figures Q1 2025 report underscored Bengaluru's leadership in the Indian office market, with 4.8 million sq. ft. leased in Q1 2025. The city accounted for the highest share of gross absorption among nine major metros, followed by Delhi-NCR and Mumbai. Live Events With over 25 years of experience, 18 million sq. ft. of residential, commercial and retail developments delivered across Bengaluru and Mysore, and over 10 million sq. ft. of projects in various stages of development.
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Business Standard
01-05-2025
- Business
- Business Standard
Bengaluru's Rs 10 cr+ home market hits Rs 1,000 cr sales milestone in FY25
Bengaluru's luxury housing market has hit a new high, with sales of homes priced at Rs 10 crore and above jumping 59% in FY2024–25 to a record Rs 1,000 crore, according to a new report by India Sotheby's International Realty (ISIR) and real estate data firm CRE Matrix. In terms of the number of units sold, 78 luxury homes were purchased during the year, compared to 51 homes in the previous fiscal. The Rs 10–Rs 12 crore price bracket saw the highest sales, with demand coming largely from CXOs, startup founders, high net-worth individuals (HNIs), and globally mobile Indians. Many are buying not just for living but also as a strategic investment. 'Locations like Varthur and Gunjur are becoming increasingly popular due to their connectivity to tech hubs,' said Umesh Gowda HA, Chairman of Sanjeevini Group. Darshan Govindaraju of Vaishnavi Group highlighted that apart from NRIs, ESOP-rich tech professionals and investors seeking capital gains are now entering the luxury housing space. Anjana Sastri of Sterling Developers added that high rental yields, IT growth, and lifestyle aspirations are making Bengaluru a top choice for premium housing. Commenting on the report, Madhusudhan G, Chairman and Managing Director of Sumadhura Group, said the housing demand in Bengaluru is strongly driven by improvement in infrastructure, including expansion in the metro rail network. Real estate developer Sanjeevini Group Chairman and Founder, Umesh Gowda HA, said, "Bengaluru has witnessed a remarkable demand in luxury homes. The ever-expanding corporate presence, with record leasing activity and rising incomes, has shifted demand to this category. Micro markets like Varthur and Gunjur, owing to their connectivity to tech hubs, have emerged as a preferred residential destination."
