India’s flexible workspace sector registered an all-time high gross leasing volume (GLV) of 12.4 million square feet (MSF) in 2024. This marks a 57.5 per cent year-on-year growth, reflecting the surging demand for agile, new age and cost-effective office solutions across key cities. Bengaluru led with 3.4 MSF of leasing volume, nearly doubling its previous year’s tally. Mumbai, meanwhile, recorded a 3 times growth in GLV, reaching 1.9 MSF, a testament to rising demand in India’s financial capital. Around 224,000 seats were leased in 2024 by end occupiers from flexible workspace operators, a 44 per cent increase over 2023. Delhi NCR, Hyderabad and Pune also emerged as strong flexible workspace hubs, said the report. The sector now accounts for 14 per cent of India’s total office leasing (89 MSF), underscoring its growing significance in the commercial real estate landscape.
