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Why India Is the World's Hottest Office Market
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Good morning. India isn’t just growing — it’s booming. And nowhere is that more visible than in the country’s commercial office market.
On The Core Report: Weekend Edition, watch Govindraj Eithiraj in a conversation with Anshul Jain, Chief Executive – India, Southeast Asia & APAC Tenant Representation at Cushman & Wakefield, as they break down why India is now the world’s largest absorber of office space, and what that really means.
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THE CORE REPORT: WEEKEND EDITION
The Macro View: Demand Like Never Before
India’s annual office space absorption has surged from 50–60 million sq. ft. pre-COVID to nearly 90 million sq. ft. in 2024. The two biggest drivers:
Domestic consumption from fast-growing Indian firms
Global Capability Centres (GCCs) being set up by foreign companies to leverage India’s talent base
While demand in markets like the US and China has stagnated, India has surged ahead.
The New Office Buyer: Who's Leasing What
GCCs now account for almost one-third of all office demand
Sectors fueling growth: Banking & Financial Services, Pharma, Engineering, and IT/BPM
Indian companies, especially banks and tech firms, are moving into higher-end office space, seeking better design, wellness, and sustainability features
Cities in the Spotlight
Bangalore remains India’s office capital, despite infrastructure woes
Mumbai is catching up with new supply pipelines
Pune, Hyderabad, Chennai, and Delhi-NCR continue to attract major GCC activity
Supply & Investment Outlook
India will see 190 million sq. ft. of new office space delivered by 2027
Institutional investors dominate the market; REITs are emerging as the best option for retail investors
Final Word
As Anshul Jain puts it:
The office of today isn’t just a workspace — it’s a statement. Design, sustainability, and amenities are no longer optional. They’re essential.
Click below to watch the full podcast
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THE MEDIA ROOM
The Digital Ad Revolution
The Media Room's latest episode unpacks the seismic shifts in digital advertising.
In episode 11, host Vanita Kohli-Khandekar leads a deep dive with YouTube's Shubha Pai, BigBasket's Anand Bhaskaran, and content creator Aakash Chopra.
Why it matters:
Digital video is reshaping India's marketing playbook.
The big picture:
Short-form content and Connected TV are exploding, changing how brands reach audiences.
Creators are king. Their authentic storytelling is now a powerful engine for brand campaigns.
Ads need to convert. Shoppability and actionability are no longer nice-to-haves; they're essential for performance.
Key insights:
Shubha Pai shares how viewer behavior is evolving across devices.
Anand Bhaskaran introduces a four-tiered framework for measuring brand success.
Aakash Chopra reflects on the enduring power of storytelling, both in sports and beyond.
THE SIGNAL DAILY
Inside India’s Art Market Boom
If you know anything about Indian art, you’ve probably heard of MF or Maqbool Fida Husain, one of India’s most popular modern artists. Though people compare Husain to Picasso, historically, his paintings have not fetched the prices that Picasso’s do.
Well, that’s until now. The Indian art market is seeing its moment. From 15 crores rupees in 2000, the Indian art market is worth 3,000 crore rupees today. And it’s only going to keep growing. Estimates say that by 2030, the market will grow to 10,000 crore rupees.
In this episode, host Kudrat Wadhwa deep dives into what’s behind these crazy numbers of the Indian art market? Are emerging artists also benefiting from this boom? And, is buying art only a domain of the ultra-wealthy?
Inside India’s Booming Private Members-Only Club Scene
India’s elite have been fraternising at old-school clubs for decades – I’m talking of your Gymkhanas and Golf clubs in Tier 1 cities.
But, for the uninitiated, becoming a member at these historic institutions is virtually impossible. Some of them have waiting times of as much as 30 years!
India’s new elite need another space; a growing private members-only club scene is coming up to fulfill that need. Some of these clubs are Soho House, Quorum, Jolie’s and The Bay Club, for example.
A study from 2024 found that the private, members-only club market is growing at a CAGR of 17.8%. By 2027, the annual ‘private club’ market size will reach 941 crore rupees.
In this episode of The Signal Daily, we’ll learn about these hangout spots for India’s elite. What’s different about this new wave versus old-school Gymkhana type institutions?
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👥 THE TEAM
✍️ Zinal Dedhia, Salman SH, Kudrat Wadhwa | ✂️ Rohini Chatterji | 🎧 Joshua Thomas