Co-Working Operators Lease 65 Lakh Sq Ft Office Space in Top 7 Cities: Colliers India
NEW DELHI, June 30: Co-working centre operators have leased 65 lakh square feet of office space during the January-June period this year across seven major cities, up 48 per cent on an annual basis, on rising demand for managed and flexible workspaces from corporates, according to Colliers India.
Co-working operators leased 44 lakh square feet in the corresponding period of 2024 calendar year across seven cities — Delhi-NCR, Mumbai, Kolkata, Chennai, Hyderabad, Pune, and Bengaluru. These operators take office spaces on rent from real estate developers and property owners and then sub-lease it to corporates of all sizes.
Although many corporates have started opting for managed office space provided by co-working operators to save costs and reduce hassles, a large number of companies still prefer conventional workspaces directly from builders and property owners. Colliers India data showed that the total gross leasing or absorption of office space rose 13 per cent to 337 lakh (33.7 million) square feet during January-June 2025 across these seven cities, from 299 lakh (29.9 million) in the year-ago period.
“Flexible spaces are increasingly establishing themselves as a key demand driver in India’s office market. Given the current momentum, flex spaces are likely to define the contours of commercial real estate in India throughout 2025 and beyond,” said Vimal Nadar, National Director and Head of Research, Colliers India.
Commenting on the data, Darshan Govindaraju, Executive Director at Bengaluru-based Vaishnavi Group, said the surge in office space leasing can be attributed to the robust addition of Grade A office spaces across micro markets in the top seven cities, which are attracting occupiers from across the globe. “This, coupled with the sustained confidence of technology enterprises in the India growth story and the robust addition of their GCCs (Global Capability Centers), is helping shore up leasing in these markets,” he added.
Manas Mehrotra, Founder of 315Work Avenue, said co-working spaces have emerged as the defining feature of India’s rapidly evolving commercial real estate. “There continues to be huge traction for flex space from corporates of all sizes as flexible workspace has become a key component in the overall real estate portfolio of corporates to enhance employee productivity, foster collaboration, and optimize operational costs by scaling up or down as per business requirements,” he added.
Shesh Rao Paplikar, Founder & CEO, BHIVE Workspaces, said the India growth story continues to capture the mindshare of global organizations with their continued investment in the country’s technology, GCC, BFSI, insurance, and other sectors. Flexible managed workspace is acting as a catalyst in driving consistent growth in office space leasing, he added.
