New Delhi’s office market is witnessing unprecedented growth in 2025, with Global Capability Centers (GCCs) emerging as the undisputed leader. These hubs of innovation have captured a staggering 45% of total office leasing activity, up from 41% in 2024, according to a comprehensive market report released this week.
GCCs leased a massive 34.9 million square feet of prime office space this year, marking a robust 20% year-on-year surge. This voracious appetite has propelled overall office leasing across India to an all-time high of 78.2 million square feet. Factors like strong demand from GCCs, supportive government policies, and restrictions on H-1B visas have created the perfect storm for this expansion.
Despite global economic headwinds and geopolitical tensions, India’s office sector demonstrated remarkable resilience, with total demand rising 11% annually. The IT-ITeS sector continues to dominate, accounting for 38% of leases, followed by BFSI and flex spaces at 14% each. This diversification signals a maturing market ready for sustained growth.
Over half of the IT-ITeS employers leasing space were GCC firms, contributing nearly 60% of the sector’s total acquisitions by value. Bengaluru led the charge with 32% of GCC leasing, while Hyderabad secured second place at 19%.
Looking ahead, analysts predict office demand could hit 85-90 million square feet by late 2026, fueled primarily by GCC momentum. This trajectory underscores India’s position as a global outsourcing powerhouse, attracting multinational giants seeking cost-effective, talent-rich environments.