The share of the flex space segment has risen to a substantial 19.8 per cent in the annual office leasing numbers in India to cross 15 million square feet (sq ft) in 2024. Delhi NCR stole a march over all others with flex operators’ activity hitting an all-time annual high in 2024, resulting in the city holding a substantial 42 per cent share in leasing by the flex segment across the top seven cities. Bengaluru leads the charge, commanding a third of the operational flex footprint. Pune has witnessed the maximum growth of around 33 per cent CAGR in its flex stock since 2019, surpassing the growth momentum across all other cities. Chennai’s emergence as the third-largest market for enterprise seat take-up signals a broader, nationwide embrace of flexible workspace solutions. The average deal size in 2024 was ~63,000 sq. ft. This ties in directly to corporations housing significantly large operations/teams in such flex centres, even as they are utilising the modern layouts, tech-enabled offices and amenities as key drivers for ramping up office occupancies and return to office percentages.
The share of the flex space segment has risen to a substanti….
