Global Capability Centres Drive India’s Next Commercial Real Estate Growth Cycle
New Delhi, September 25, 2026: Global Capability Centres (GCCs) are emerging as the primary growth engine for India’s commercial real estate market, with 75% of GCC occupiers planning to expand their office footprint over the next two years. According to CBRE’s India Office Occupier Survey 2026, the broader market reflects a similar trajectory, with 77% of all occupiers preparing to scale up operations and 30% targeting footprint expansions exceeding 30%.
Between 2022 and the first half of 2026, GCCs leased over 123 million sq. ft. of office space, representing 36% of total leasing across top Indian cities. The sector comprises more than 2,117 firms and 2.36 million professionals, generating nearly US$100 billion in revenues in FY2026. Colliers reports that GCCs accounted for 46% of Grade A office leasing in H1 2026, securing 16.6 million sq. ft. Overall office absorption hit a record 45.5 million sq. ft. during the same period, supported by 32 million sq. ft. of new supply.
Commentating on the trend, Sandeep Chhillar, Founder and Chairman, Landmark Group, said, “Global Capability Centres are fast becoming the defining demand driver of India’s next commercial real estate cycle. With India’s GCC count projected to grow by 41% by 2030, and GCCs already accounting for nearly 35% of Grade-A office leasing across top cities, the numbers tell a clear story. Gurugram is firmly at the centre of this shift in NCR, the city’s combination of superior connectivity, mature infrastructure, established corporate ecosystem and deep talent access makes it one of the most compelling GCC destinations in the country. As mandates grow more sophisticated, location decisions are increasingly being made through the lens of the broader business ecosystem: talent availability, infrastructure quality and long-term liveability. The next phase of commercial real estate will be defined not by volume alone, but by the quality and adaptability of environments built for businesses and their people.”
Occupier requirements are shifting toward high-value, technology-enabled spaces as GCCs expand into R&D, product development, AI, and enterprise transformation. CBRE found that 70% of occupiers prioritize commute infrastructure, while 95% view congestion as an operational threat. Emerging corridors across Noida, Greater Noida, and the Yamuna Expressway are gaining traction to meet demand.
Highlighting changing occupier preferences, Dr. Amish Bhutani, Managing Director, Group 108, said, “Occupiers are becoming more selective about what makes a commercial location work over the long term. Demand will increasingly be driven by factors such as connectivity, accessibility, quality of infrastructure, surrounding development and the availability of well-planned commercial spaces. As emerging NCR corridors improve their connectivity and infrastructure, they will become more attractive for businesses seeking efficient and future-ready locations. The growing availability of quality office and retail spaces in these corridors will further strengthen demand for commercial real estate.”
Institutional real estate investment reached $4.5 billion in H1 2026, up 50% year-on-year, with office assets attracting over 40% of inflows.
Addressing regional infrastructure developments, Karan Malik, Regional Director, Realistic Realtors, said, “The expansion of data centres is also opening up a longer development landscape for NCR. Noida and Greater Noida have the existing ecosystem, while the Yamuna Expressway region offers larger parcels and the potential to accommodate infrastructure at scale. The upcoming data centre parks across Noida, Greater Noida and Yamuna Expressway show that this is becoming a wider regional strategy rather than a single-location story. Real estate will increasingly follow the infrastructure that enables the digital economy.”
