GCCs Drive 43 Per Cent Of Office Leasing In India

30 Jul 2026 CW Team

Global Capability Centres (GCCs) accounted for 43 per cent of total office leasing in India in the first half of 2026, according to a presentation by Equirus. The presentation said expansion by multinational companies continued to support demand for premium Grade A office assets across the country’s major commercial hubs. It added that the number of GCC transactions increased by approximately 30 per cent year-on-year.

Equirus reported that GCCs accounted for 53 per cent of large office transactions in the same period, underscoring their role as the largest occupier segment in commercial real estate. Overall office leasing reached 45.5 mn square feet in the first half of 2026, which represented the highest absorption recorded for a six-month period. Leasing grew 9.6 per cent year-on-year and quarter-wise absorption stood at 24.6 mn square feet in the second quarter of 2026.

The presentation noted that new office supply remained healthy, with 32 mn square feet added during the first half of the year, up 14 per cent year-on-year and providing adequate inventory to support future demand. On occupier preferences, businesses increasingly favoured high-quality, sustainable office space and a majority of new stock met green standards. 76 per cent of new supply was green-certified, 73 per cent of leasing occurred in green assets and 70 per cent of leasing took place in buildings less than ten years old.

Summing up the trend, Equirus indicated the office market had evolved into a large-scale institutional asset class, with record leasing, sustained GCC expansion and a growing preference for premium, ESG-compliant office assets. The firm noted that institutional capital and demand for Grade A stock would continue shaping market dynamics. This reinforced the role of GCCs as a dominant occupier segment and underlined the shift towards sustainable, modern office environments.

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30 Jul 2026

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