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Economic Times
5 days ago
- Business
- Economic Times
India's office market on track for record 2025 with 39.45 mn sq ft leased in H1
India's office real estate shows strong performance. Leasing reached 39.45 million sq ft in the first half of 2025. This is a 17.6% increase from last year. The second quarter was exceptionally strong. Global companies led the leasing activity. Bengaluru led the demand. Technology sector and GCC activity also contributed. Net absorption rose significantly. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India's office real estate sector continues to defy global economic uncertainties, delivering a record-breaking gross leasing of 39.45 million sq ft in the first half of 2025, up 17.6% from a year ago. With this, the year is shaping up to be the best-ever for domestic demand as corporate India signals long-term confidence in growth prospects, according to JLL India The performance was buoyed by an exceptionally strong second quarter, where leasing volumes touched 20 million sq ft, marking the best second quarter occupiers led the momentum, accounting for 61.5% of leasing volumes during the quarter, underscoring India's growing stature as a global talent hub. Domestic firms also demonstrated strong activity, leasing 7.7 million sq ft.'India's office market is defying global economic headwinds with remarkable resilience, as evidenced by record-breaking gross leasing of 39.45 million sq. ft in H1 2025—a robust 17.6% on-year increase,' said Samantak Das, Chief Economist and Head of Research and REIS, India, JLL. 'With the top seven cities consistently delivering approximately 21 million sq. ft per quarter, India has cemented its position as a mission-critical destination in multinational corporations' global strategies.'This exceptional performance, driven by global occupiers who account for 61.5% of quarterly transactions, according to him, puts the market on trajectory to surpass an unprecedented 80 million sq. ft led demand for the fifth consecutive quarter, accounting for 37.6% of the quarter's leasing activity, registering its second-highest quarterly volume after fourth quarter of 2024. Delhi-NCR followed with a 20.8% share. All major cities recorded higher or stable year-over-year performance, except Kolkata.'The technology sector's resurgence to a three-year high market share of 30.3% in H1, combined with GCC activity breaking all previous Jan-June period records, signals India's commercial real estate dynamics to be in a very healthy state,' said Rahul Arora, Head - Office Leasing & Retail Services, and Senior Managing Director (Karnataka, Kerala), India, JLL. 'Tech firms have already taken up 9.1 million sq. ft in H1 2025—75% of their entire 2024 footprint—signaling a pivot toward innovation-driven expansion. The tech sector reclaimed a 30.3% share, with GCC activity reaching record highs.'GCCs leased 13.85 million sq. ft in H1 2025—up 30.8% y-o-y—led by BFSI and manufacturing, which together made up 55.6% of their share. Bengaluru accounted for over 41% of total GCC demand. Net absorption rose 26.6% y-o-y in H1 to 23.9 million sq. ft—its highest level ever for the first half of any year. Q2 alone saw 11.13 million sq. ft in net average quarterly leasing at ~21 million sq. ft over the past year, India's office market is on course to surpass 80 million sq. ft in 2025. Strong demand from GCCs, tech and BFSI sectors, paired with tight vacancy and active supply pipelines, point to sustained growth amid global headwinds.
Time of India
15-06-2025
- Business
- Time of India
US firms contribute 33% of total office demand in India's top 7 cities in 2022-24: JLL
NEW DELHI: US companies have rented 64.5 million square feet of office space during 2022-24 across India's seven major cities, contributing over one-third of the total leasing of workspaces, according to JLL India. Real estate consultant JLL India data showed that the total gross leasing of office space during 2022-24 calendar years stood at 190 million sq ft across seven major cities -- Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad and Pune. Out of this, US firms have taken 64.5 million sq ft office spaces on rent, mainly to set up their Global Capability Centers (GCCs). Nearly 70 pc or 64.5 million square feet office spaces were rented for setting up of GCCs. "India's combination of skilled talent at scale, supportive ecosystem, cost advantages, and growth-oriented policy environment continues to make it an increasingly attractive destination for US corporations looking to establish and expand their global capabilities," said. Rahul Arora, Head - Office Leasing & Retail Services, Senior Managing Director (Karnataka, Kerala), India, JLL. GCC-led requirements constitute 70 per cent of all space demand from US occupiers, signaling continued long-term investment and confidence in India as a key R&D and innovation hub, he added. The consultant said that IT city Bengaluru is the most preferred location for US corporates. US-based technologies and BFSI (Banking, Financial Services and Insurance) companies are major drivers of office demand in top Indian cities.>
Time of India
14-06-2025
- Business
- Time of India
GCC boom fuels US demand, US firms drive one-third of office demand in top Indian cities; Bengaluru leads office space race among top 7 cities
US-based companies have emerged as the single-largest contributors to India's office space demand in recent years, accounting for over one-third of gross leasing across the top seven cities between 2022 and 2024, according to data from real estate consultancy JLL India. During the three-year period, total office leasing across Delhi-NCR, Mumbai, Bengaluru, Chennai, Kolkata, Hyderabad and Pune stood at 190 million square feet. Of this, US firms alone leased 64.5 million sq ft, with nearly 70% of that space taken to establish or expand Global Capability Centres (GCCs), JLL said. 'India's combination of skilled talent at scale, supportive ecosystem, cost advantages and a growth-oriented policy environment continues to make it an increasingly attractive destination for US corporations looking to establish and expand their global capabilities,' said Rahul Arora, Head – Office Leasing & Retail Services and Senior Managing Director (Karnataka, Kerala) at JLL India, PTI reported. The data underlines sustained interest from US-based multinationals in India's technology hubs, led by Bengaluru, which continues to be the top choice for setting up GCCs. JLL noted that GCC-led requirements formed around 70% of all space demand from US occupiers, signalling strong long-term investment and positioning India as a key hub for R&D, technology and innovation. Technology and BFSI (Banking, Financial Services and Insurance) companies from the US are driving much of this office demand, according to JLL, reflecting a broader global shift towards centralising high-end service operations in India. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
14-06-2025
- Business
- Time of India
US firms deepen commitment to India's office market as GCCs expand footprint
India continues to cement its status as a strategic hub for American corporations, with US firms steadily expanding their office presence across the country. From Mumbai to Bengaluru, American occupiers are actively shaping the landscape of India's commercial real estate sector. This trend is being led by Global Capability Centers (GCCs), which are evolving beyond their traditional IT roots into engines of innovation, research & development, and high-value business operations. US companies accounted for 34.2% of India's total office leasing between 2022 and the first quarter of 2025, showed data from JLL India. While their share has slightly dipped from pre-pandemic highs due to broader market participation, their absolute leasing volume has increased by around 16%. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If You Eat Ginger Everyday for 1 Month This is What Happens Tips and Tricks Undo The year 2024 marked the highest annual office leasing activity ever recorded by US firms in India, and Q1 2025 has sustained the previous year's strong quarterly average--indicating a stable, long-term trend. 'India's combination of skilled talent at scale, supportive ecosystem, cost advantages, and growth-oriented policy environment continues to make it an increasingly attractive destination for US corporations.' He noted that US firms now hold a 45% share of total active space demand, rising to 55% among non-domestic occupiers. Of this, 70% is driven by GCC requirements,' said Rahul Arora, Head - Office Leasing & Retail Services and Senior Managing Director (Karnataka, Kerala), India, JLL. Live Events Driving this momentum are US-origin GCCs, which make up more than two-thirds of all leasing activity by American firms in India. 'US-origin GCCs consistently represent over two-thirds of all leasing activity by American firms. This underscores India's central position in long-term business strategies for major US corporations,' said Dr. Samantak Das, Chief Economist and Head of Research and REIS, India, JLL. Since 2017, US-based GCCs have contributed nearly 70% of all GCC leasing in India. City-level patterns reveal Bengaluru as the leading destination, accounting for 35% of US leasing during the period, followed by Hyderabad and Delhi NCR. Chennai and Pune are also emerging as high-potential markets, each offering a mix of sectoral diversity and talent availability. While technology remains the dominant sector for US occupiers, BFSI and manufacturing GCCs have posted the strongest growth. Manufacturing-led GCCs, in particular, have seen the largest percentage increase in leasing, driven by policy pushes like ' Make in India ' and growing global interest in India's engineering and design capabilities. Across key metros, American firms are aligning their operations with each city's strengths--from Mumbai's banking, financial services, and insurance (BFSI) dominance to Chennai's balanced sector mix--marking a new phase in India's real estate and corporate evolution.
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Business Standard
13-06-2025
- Business
- Business Standard
Operation Chakra-V: CBI raids 10 sites in nationwide cyber fraud crackdown
In a major crackdown on cyber-enabled financial crimes, the Central Bureau of Investigation (CBI) on Friday conducted extensive searches at 10 locations across Delhi, Hisar, Lucknow, Mumbai, Pune and Nashik as part of Operation Chakra-V. The raids were linked to a sophisticated organised investment fraud scheme targeting unsuspecting individuals through fake mobile apps and WhatsApp groups. One person, a resident of Kalyan in Mumbai, was arrested for allegedly supplying pre-activated SIM cards and mule bank accounts to cybercriminals—resources critical to the functioning of fraudulent operations, according to a CBI statement. During the searches, the CBI recovered substantial incriminating material, including digital devices and documents, which shed light on the inner workings of the syndicate. The fraud involved luring investors with promises of discounted shares in reputed listed companies. Victims were tricked into transferring money through deceptive platforms, only to later discover that their funds had been misappropriated. According to the CBI, the cyber syndicate operated with a well-coordinated infrastructure, using technology and social engineering to defraud the public on a large scale. The searches have revealed a complex network that enabled the laundering and siphoning of proceeds. 'Operation Chakra-V underscores the CBI's unwavering commitment to dismantling cybercrime syndicates and the digital infrastructure that sustains them,' the agency said in a statement. The investigation is ongoing. Earlier, on 11 June, the CBI, under its ongoing anti-cybercrime drive 'Operation Chakra-V', uncovered a transnational cyber fraud network targeting citizens in the United States and Canada. Acting on specific intelligence, the agency carried out searches at three locations in India and arrested one individual, Rahul Arora, in New Delhi. He is accused of posing as a government official and tech support representative to deceive foreign nationals. The operation led to the recovery of critical digital evidence, including international calling devices, caller ID spoofing software, social engineering-based lead generation tools, voice recordings and other cyber fraud tools. Additionally, the CBI seized cryptocurrency valued at ₹2.8 crore and ₹22 lakh in unaccounted cash, highlighting the significant scale of the fraudulent activities.
