Delhi-NCR Emerges as Top Destination for Global Capabilities Centres (GCCs) in India
Delhi-NCR has seen a significant increase in the leasing of office spaces for Global Capabilities Centres (GCCs), with 5.09 million square feet leased over the past two years. This growth is driven by India's rising economic influence and improved infrast
DelhincrOffice SpaceGlobal Capabilities CentresReal EstateIndiaReal Estate PuneFeb 25, 2025
According to real estate consultant Anarock, 5.09 million (50.9 lakh) square feet of office spaces have been leased in the region during the last two calendar years.
This growth signifies a 4 per cent increase on a yearly basis, with nearly 2.5 million square feet leased in 2023 and 2.59 million square feet in 2024.
Across seven major cities—Delhi-NCR, Mumbai, Bengaluru, Pune, Hyderabad, Chennai, and Kolkata—the total gross leasing of office spaces stood at 141.43 million square feet over the last two years.
Of this total, GCCs alone leased about 52.88 million square feet, comprising over 37 per cent of the total absorption.
Anarock's MD-Commercial Leasing and Advisory, Peush Jain, attributes this trend to India's rising economic influence in the last two to three years.
Jain notes that this influence has boosted the confidence of GCCs, attracting them to key markets in the country, including Bengaluru, Mumbai, Hyderabad, Pune, and Chennai.
Unlike the pre-Covid period, when most GCCs were primarily focusing on the IT/ITeS and BFSI sectors, their focus has now shifted to other sectors like engineering and manufacturing.
Jain explains that this shift is due to various factors, including the growing prominence of India as a global economic hub, the government's continuous focus on the 'Make in India' initiative, and overall improved infrastructure and connectivity, such as through airports and railways.
Mumbai-headquartered Anarock entered the office leasing segment in April 2024, expanding its business from housing brokerage, capital market transactions, and leasing of retail as well as industrial and warehousing spaces, among others.
Vijay Harsh Jha, founder and CEO of VS Realtors, highlights that Delhi-NCR is becoming a preferred destination for GCCs, particularly due to the traction drawn by Noida.
The upcoming Noida International Airport, competitive rentals, good quality office spaces, and connectivity infrastructure developments in the entire NCR region, including Gurugram, are key factors contributing to this trend.
The increasing demand for office spaces in Delhi-NCR and other major cities in India reflects the country's growing role in the global business landscape.
As more MNCs recognize the potential of India's talent pool and infrastructure, the trend of setting up GCCs in these regions is likely to continue, driving further economic growth and development.
Frequently Asked Questions
What is a Global Capabilities Centre (GCC)?
A Global Capabilities Centre (GCC) is a facility established by multinational corporations (MNCs) to centralize specific business functions such as research and development, engineering, and customer support. These centres leverage the local talent and infrastructure to support the global operations of the MNC.
Which cities in India are emerging as key markets for GCCs?
The key markets for GCCs in India include Bengaluru, Mumbai, Hyderabad, Pune, and Chennai. These cities are attracting GCCs due to their robust infrastructure, skilled workforce, and supportive policies.
What factors are driving the growth of GCCs in India?
The growth of GCCs in India is driven by several factors, including India's rising economic influence, the 'Make in India' initiative, improved infrastructure, and enhanced connectivity through airports and railways. The availability of a skilled workforce and competitive rental rates also play significant roles.
What sectors are GCCs now focusing on in India?
While GCCs traditionally focused on IT/ITeS and BFSI sectors, they are now shifting their focus to other sectors like engineering and manufacturing. This shift is due to the growing prominence of India as a global economic hub and the government's focus on initiatives like 'Make in India.'
How has the leasing of office spaces in Delhi-NCR changed over the past two years?
Over the past two years, GCCs have leased 5.09 million square feet of office spaces in Delhi-NCR, with nearly 2.5 million square feet leased in 2023 and 2.59 million square feet in 2024. This represents a 4 per cent annual increase, reflecting the growing demand for office spaces in the region.
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