Hyderabad Tops GCC Office Rental Index

30 Jun 2026 CW Team

The IIMB-CRE Matrix GCC Commercial Property Rental Index for Q1 calendar year 2026 has highlighted continued strength in India’s Global Capability Centre-led office market. The pan-India GCC Commercial Property Rental Index stood at 165, with Q1 calendar year 2014 as the base period.

Hyderabad emerged as India’s highest-priced GCC office market with a GCC-CPRI of 212.1. The city recorded a 15 per cent rental premium for GCC occupiers over non-GCC tenants, supported by strong demand from large occupiers and mature office clusters.

Pune followed closely with a GCC-CPRI of 210.7, while GCC occupiers in the city paid around 21 per cent higher rentals than non-GCC tenants. Bengaluru, India’s largest and most established GCC office market, recorded a GCC-CPRI of 190 and a three-year growth rate of 1.6 per cent.

Western India showed strong momentum, with Navi Mumbai recording the highest three-year GCC rental compound annual growth rate among major markets at 13.4 per cent. Mumbai and Thane also continued to report healthy rental growth, strengthening the region’s position as a key GCC expansion hub.

Among micro-markets, Mumbai’s Central Suburbs and Chennai’s Northern Suburbs were the strongest performers over the past three years, each recording GCC rental compound annual growth of more than 22 per cent.

The index is based on CRE Matrix’s transaction-level dataset covering about 1 billion sq ft of office stock, over 2,000 commercial assets and more than 19,000 lease transactions across India’s leading office markets. The GCC-CPRI has been developed by IIM Bangalore and CRE Matrix as India’s first dedicated rental index tracking effective office rents paid by Global Capability Centre occupiers.

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