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Southern Indian Cities Lead GCC Leasing Surge with 64% Share in Q1 2025

Bengaluru, Hyderabad, and Chennai dominate as Global Capability Centres expand, with leasing activity up 72% year-over-year and growth extending into Tier 2 and 3 cities.

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South India emerges as top choice for GCC offices in early 2025
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Overview

  • Global Capability Centres (GCCs) leased 8.35 million square feet of office space across India's top seven cities in Q1 2025, a 72% increase from Q1 2024.
  • Bengaluru, Hyderabad, and Chennai accounted for 64% of GCC leasing activity, with Bengaluru alone securing a 40% share.
  • Delhi-NCR emerged as the second-largest leasing market, contributing 1.95 million square feet, or 23% of the total leased space.
  • Sectoral diversification continues, with IT/ITeS leading at 35%, followed by BFSI at 22% and manufacturing and industrial sectors at 13%.
  • GCCs are expanding operations into Tier 2 and 3 cities like Ahmedabad, Kochi, and Coimbatore, driven by cost advantages, infrastructure development, and a growing skilled workforce.