Market Size of India Office Real Estate Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 33.41 Billion |
| Market Size (2029) | USD 117.04 Billion |
| CAGR (2024 - 2029) | 28.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Office Real Estate Market Analysis
The India Office Real Estate Market size is estimated at USD 33.41 billion in 2024, and is expected to reach USD 117.04 billion by 2029, at a CAGR of 28.5% during the forecast period (2024-2029).
In H12024, India's office market achieved its best performance to date, continuing its impressive growth trajectory. All top seven cities — Mumbai, Delhi-NCR, Bengaluru, Chennai, Kolkata, Pune, and Hyderabad — recorded groundbreaking gross leasing volumes of at least 1 million sq. ft (msf) in H1 2024. Additionally, leasing volumes reached 33.5 msf in H1 2024 , marking the best-ever first half and surpassing the previous peak set in 2019. This robust growth underscores the resilience and strength of the Indian office market.
As hybrid work models gain traction and the demand for flexible workspaces surges, the landscape of office real estate is poised for transformation. While traditional office spaces remain significant, a pronounced shift towards flexibility is evident. This shift is fueled by aspirations for improved work-life balance, cost efficiencies, and the demand for adaptable work settings. In response, office landlords are evolving their properties, introducing flexible leasing terms and modern amenities. Meanwhile, occupiers are not only seeking enriched workplace experiences but are also embracing diverse strategies to bolster their growth ambitions.
India Office Real Estate Industry Segmentation
Office real estate is the business of building buildings that companies from different industries can rent or buy.The goal of this report is to give an in-depth look at the Indian office real estate market. It looks at the market insights, dynamics, technological trends, and government projects in the office real estate sector.The report also looks at the major players in the market and how competitive the Indian office real estate market is.
A complete background analysis of the India Office Real Estate Market, including the assessment of the economy and contribution of sectors in the economy, market overview, market size estimation for key segments, and emerging trends in the market segments, market dynamics, and geographical trends is covered in the report.
The India Office Real Estate Market is divided into major cities (Bengaluru, Hyderabad, and Mumbai). The report offers market size and forecasts in dollars (USD billion) for all the above segments.
| Major Cities | |
| Bangaluru | |
| Hyderabad | |
| Mumbai | |
| Other Cities |
India Office Real Estate Market Size Summary
The Indian office real estate market is poised for significant growth, driven by the increasing demand from sectors such as IT, healthcare, e-commerce, and logistics. The market is adapting to new workplace dynamics, with a focus on hybrid models that integrate traditional leased spaces with remote and flexible options. This shift is part of a broader strategy to optimize costs and portfolios by decentralizing workplaces to accommodate a more mobile workforce. Despite initial setbacks due to the COVID-19 pandemic, the market has shown resilience, with a notable increase in office leasing and a surge in private equity investments. The easing of Foreign Direct Investment (FDI) rules has further attracted new companies to the Indian market, enhancing its growth potential.
The competitive landscape of the Indian office real estate market is marked by the presence of both domestic and international players, offering numerous opportunities, particularly in tier 2 cities. Major developers and consultancy firms, such as Indiabulls Real Estate, DLF Ltd., and Cushman & Wakefield, are actively contributing to the market's expansion. The Securities and Exchange Board of India's initiatives to make Real Estate Investment Trusts (REITs) more accessible have also bolstered market participation. With substantial commercial projects underway in key cities like Bengaluru, Mumbai, and Delhi-NCR, the market is set to experience robust growth, supported by increased absorption of Grade-A office space and ongoing developments in commercial infrastructure.
India Office Real Estate Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Policies and Regulations
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1.3 Government Regulations and Initiatives
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1.4 Supply Chain/Value Chain Analysis
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1.5 Insights into Technological Innovation in the India Office Real Estate Sector
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1.6 Impact of Geopolitics and Pandemic on the Market
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2. MARKET SEGMENTATION
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2.1 Major Cities
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2.1.1 Bangaluru
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2.1.2 Hyderabad
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2.1.3 Mumbai
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2.1.4 Other Cities
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India Office Real Estate Market Size FAQs
How big is the India Office Real Estate Market?
The India Office Real Estate Market size is expected to reach USD 42.93 billion in 2025 and grow at a CAGR of 28.5% to reach USD 150.42 billion by 2030.
What is the current India Office Real Estate Market size?
In 2025, the India Office Real Estate Market size is expected to reach USD 42.93 billion.
