Market Report
Flex Spaces & GCCs: Redefining India’s Office Ecosystem
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Key Insights
1
82.3 Mn sq ft of total flex stock, estimated to cross 100 Mn sq ft
2
67% share of top 10 flex operators in the total flex stock
3
1750+ GCC companies and ~3,800 bases in India
Key Takeaways
- More than 80 flex operators established nearly 1,400 centers in India’s seven major cities, accounting for 3 Mn sq ft of flex stock. On the other hand, India houses around 3,800 GCC bases established by 1,750+ unique companies, with nearly 91% bases located in the seven major cities.
- Over 475 GCC bases operate in flex spaces, accounting for around 35% of all the flex centers in the top seven cities. Nearly 70% of these GCC bases are from IT–ITeS and BFSI sectors.
- Aligned with ESG commitments, 62% of the GCC bases in flex spaces are green-certified, while 85% of the GCC bases in flex spaces are located in grade-A buildings.
- GCCs are increasingly preferring peripheral regions due to cost competitiveness, modern infrastructure, and scalability. Hence, 61% of the total flex portfolio is now concentrated in these peripheral areas.
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