Tech Giants Lead Office Space Leasing Surge: Colliers India Report
In the first half of 2024, technology companies leased 40% of the total office space across seven major Indian cities, according to a report by Colliers India. This significant demand underscores the tech sector's growing influence on the real estate market.
Technology CompaniesOffice SpaceReal EstateCoworkingHybrid WorkReal EstateAug 14, 2025
Real estate consultant Colliers India data showed that the total gross leasing of conventional office space stood at 27.2 million square feet across seven cities in the first half of this calendar year. Of this, technology companies took 10.8 million sq ft on rent.
Apart from this, technology companies have also rented office space in co-working centres. The technology sector also remains a dominant occupier within flexible office spaces, as leading tech firms continue to adopt agile workspace strategies to support hybrid work models.
Co-working operators have taken on lease 6.5 million sq ft of office space from property owners to set up their centres. Colliers has estimated that tech companies account for 40-50 per cent of the total demand for flexible workspace in co-working centres.
The consultant said that these data pertain to Grade A buildings only in the top seven cities – Bengaluru, Chennai, Delhi-NCR, Hyderabad, Kolkata, Mumbai, and Pune. Gross absorption does not include lease renewals, pre-commitments and deals where only a Letter of Intent (LoI) has been signed.
Despite current headwinds, we expect technology occupiers to maintain the leasing momentum throughout 2025 and fuel commercial real estate in India, mainly supported by expansion of GCCs (global capability centres), Arpit Mehrotra, Managing Director - Office Services at Colliers India, said. He noted that a strong IT talent pool and cost arbitrage would continue to be the differentiating factors for the Indian office market.
Frequently Asked Questions
What percentage of office space did tech companies lease in H1 2024?
Tech companies leased 40% of the total office space in H1 2024 across seven major Indian cities.
Which cities are included in the Colliers India report?
The report includes Bengaluru, Chennai, Delhi-NCR, Hyderabad, Kolkata, Mumbai, and Pune.
How much office space did co-working operators lease?
Co-working operators leased 6.5 million sq ft of office space from property owners.
What factors are driving the demand for office space in India?
A strong IT talent pool and cost arbitrage are the key factors driving the demand for office space in India.
What is the expected trend for tech company leasing in 2025?
Colliers India expects tech companies to maintain their leasing momentum throughout 2025, supported by the expansion of global capability centres (GCCs).
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