Mumbai, 14 February (IANS). According to the latest office market assessment released by Real Estate Consultancy Night Frank India, the global capacity centers (GCC) gave a lease of 2.25 million sq ft in 2024, which is 31 percent of the total leasing volume.
The report stated that 50 of this major deals (more than 1,00,000 sq ft every 1,00,000 sq ft) were a total of 12.1 million sq ft, while the 56 mid -size deal (50,000 – 100,000 sq ft) contributed 4.4 million sq ft.
In addition, 223 small deals (less than 50,000 sq ft) were for the location given at 5.5 million sq ft lease.
In cities, Bengaluru recorded the highest total GCC leasing at 9.33 million sq ft, of which 66 percent (6.18 million sq ft) came from large deals and showed an increase of 191 percent in absorption.
Hyderabad secured a total of 5.06 million sq ft with GCC transactions, of 67 percent (3.41 million sq ft) from large office space category.
Chennai saw a good growth by GCC in 2024 with 89 and NCR with 53 deals.
Bengaluru emerged as a major market, which acquired 42 percent of the total GCC leasing volume with 100 lease transactions, which was the highest in all cities.
In the top eight cities, GCC made 329 leasing deals in 2024.
Bengaluru was at the forefront with 100 transactions, after which Chennai finished second with 89 deals.
Both cities saw the highest lease in the category of less than 50,000 sq ft, 73 deals were recorded in this segment in Chennai, which is the highest in all cities, followed by 66 deals in Bengaluru.
In the mid -size office segment, Hyderabad was at the forefront of 15 deals, while Bengaluru stood second with 14 deals.
In the large office category (100,000+ sq ft), Bengaluru was at the forefront of 20 deals, which strengthened its position as a favorite destination for GCC. While three southern cities – Bengaluru, Chennai and Hyderabad – remained the most attractive for GCC, 53 GCC deal was also seen in the NCR region, most of which (38 transactions) were in small office categories.
Retail Agency Night Frank India Senior Executive Director Viral Desai said, “India provides the most attractive ecosystem for the development of GCC. High skilled talent pool with progressive government policies ensures a spontaneous setup and smooth operation.”
He said, “India’s extraordinary commercial real estate landscape gives further strength to these benefits. There is a huge supply of grade A office space in the country, which has a strong ownership structure, which is equal to the leading global destinations. Also, while the quality The world -class remains, commercial fares have been stable in terms of US dollars for more than a decade – which has become a highly competitive and cost -effective option for India GCC expansion. “
-IANS
SKT/Ekde
