Delhi-NCR Leading the Way in GCC Office Leasing: Anarock
Delhi-NCR has emerged as a preferred destination for Global Capabilities Centres (GCCs) with 5.09 million sq ft of office spaces leased over the past two years. The growth is attributed to improved infrastructure, competitive rentals, and government initi
GccsDelhincrOffice SpacesReal EstateMake In IndiaReal Estate MaharashtraFeb 25, 2025
This significant growth has attracted considerable attention from the business community, highlighting the region's growing prominence in the global economic landscape.
In the past two years, nearly 2.5 million sq ft of office space was leased in 2023, and 2.59 million sq ft was leased in 2024, marking a 4 per cent increase on a yearly basis.
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 sq ft in the last two years.
Of this, GCCs alone leased about 52.88 million sq ft, comprising over 37 per cent of the total absorption.
Peush Jain, Anarock MD-Commercial Leasing and Advisory, attributes this growth to India's rising economic influence in the last two to three years, which has boosted the confidence of GCCs.
Jain notes, \
Frequently Asked Questions
What is a Global Capabilities Centre (GCC)?
A Global Capabilities Centre (GCC) is a hub set up by multinational corporations to provide support in various areas like research, development, and operations. These centres are often located in regions with favorable business conditions and skilled talent pools.
Why is Delhi-NCR becoming a preferred destination for GCCs?
Delhi-NCR is becoming a preferred destination for GCCs due to factors such as the upcoming Noida International Airport, competitive rentals, good quality office spaces, and significant infrastructure developments in the entire NCR region, including Gurugram.
How much office space did GCCs lease in Delhi-NCR in the past two years?
GCCs leased 5.09 million (50.9 lakh) sq ft of office space in Delhi-NCR over the past two years, with nearly 2.5 million sq ft leased in 2023 and 2.59 million sq ft leased in 2024.
What are some of the key cities where GCCs are setting up their centres in India?
Some of the key cities where GCCs are setting up their centres in India include Delhi-NCR, Mumbai, Bengaluru, Pune, Hyderabad, Chennai, and Kolkata.
What government initiatives are contributing to the growth of GCCs in India?
The 'Make in India' initiative and other government policies aimed at improving infrastructure and connectivity are key factors contributing to the growth of GCCs in India.
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