Mumbai, Nov. 2 -- India's flexible office stock across the top seven office markets is projected to nearly double to 170-180 mn sq ft by 2030 from around 90 mn sq ft in 2026, according to a report by Colliers and the Confederation of Indian Industry (CII). Flexible offices could account for 14-15 per cent of Grade A office stock by then, compared with about 10 per cent currently.

Flex operators are expected to lease around 18 mn sq ft of Grade A office space across the seven markets in 2026, up from 5.1 mn sq ft in 2021. Bengaluru, Delhi-NCR and Hyderabad are each expected to contribute around 3-4 mn sq ft, while Secondary Business Districts have accounted for more than 55 per cent of leasing over the past five to six years.

Flexible space could represent nearly one-third of Grade A office leasing by 2030, compared with around 20-25 per cent currently. Enterprise occupiers account for 75-85 per cent of demand, with annual seat uptake rising from around 55,000 in 2021 to an estimated 230,000 in 2026. The report estimates that annual uptake could reach 300,000-350,000 seats over the next three to four years.

Global Capability Centres account for 45-50 per cent of enterprise flex demand, supported by preferences for managed offices, hybrid work models and decentralised portfolios. Bengaluru is the largest market, with around 27.1 mn sq ft of Grade A flex stock in 2026, followed by Delhi-NCR at 17 mn sq ft and Hyderabad at 13.2 mn sq ft. Pune has the highest concentration, at about 14 per cent of its Grade A office stock.

Flex stock in Tier II and III cities is estimated at 8-12 mn sq ft in 2026 and could reach 20-25 mn sq ft by 2030. Ahmedabad and Jaipur are identified as high-growth markets, while several cities including Coimbatore, Lucknow, Kochi and Indore are scaling. Leading operators have collectively raised more than Rs. 50 bn through initial public offerings since 2024, increasing access to capital and supporting further expansion.

Published by HT Digital Content Services with permission from Construction World.