India’s office space leasing by GCCs set to grow 15-20% in 2 years: Report

Mumbai: Global Capability Centres (GCCs) acted as the major driver of India’s commercial real estate sector, with leasing projected to grow by 15–20 per cent over the next two years, said a report on Wednesday.

GCCs are projected to lease 60–65 million square feet of Grade A office space by 2027, according to a report by real estate services firm Colliers.

These centres have leased around 100 million square feet in India's top seven cities since 2021, accounting for 36 per cent of total office demand. Leasing activity by global corporates is expected to touch 28 million square feet by 2025, nearly doubling the 2021 figure, the report said.

Further, the share of GCCs in overall office leasing, which had dipped to less than 30 per cent in 2022, has rebounded sharply to nearly 40 per cent in 2025, it added.

“Capability centres in India are steadily evolving into innovation-driven, domain-specialised, and technologically integrated centres, and are likely to drive over 40 per cent of India’s office space demand,” said Arpit Mehrotra, Managing Director, Office Services, Colliers India.