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India's Green Office Space Hits 66% of Grade A Inventory, Leasing Surges 20% in 2024

Green-certified commercial stock reached 503 million sq ft by end-2024, with projections targeting nearly 700 million sq ft within three years as occupiers increasingly prioritize sustainability.

Two-Thirds of Grade A office space across the country is now certified. Hyderabad and Bengaluru lead in green office penetration, a Credai-Colliers report has said. (Picture for respresentational purposes only)

Overview

  • Green-certified office stock now accounts for 66% of India's Grade A inventory across major cities, totaling 503 million sq ft as of 2024.
  • Leasing activity in green-certified buildings rose by 20% in 2024, reaching 49.2 million sq ft, with 75% of leases transacted in sustainable spaces.
  • Bengaluru leads in total green-certified office stock (31%), while Hyderabad boasts the highest penetration rate at 75%.
  • Green-certified buildings command rental premiums of up to 24% and maintain higher occupancy rates (80–90%) compared to non-certified spaces.
  • Developers are projected to expand green-certified office stock to nearly 700 million sq ft by 2027, supported by retrofitting opportunities worth ₹450 billion.