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Built To Suit Workspaces

India's office real estate leasing reached a record 89 msq ft in 2024, with Bangalore leading the surge at 14.7 msq ft, a 66% year-on-year increase. Built-to-suit (BTS) projects are becoming increasingly popular, characterized by long leases, premium rentals, and a focus on flexibility and employee experience. As traditional CBD spaces become saturated, emerging areas like North Bangalore and Electronic City are poised for growth, positioning companies that invest in customized workspaces as leaders in the evolving market.

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Atulya Sharma
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42 views8 pages

Built To Suit Workspaces

India's office real estate leasing reached a record 89 msq ft in 2024, with Bangalore leading the surge at 14.7 msq ft, a 66% year-on-year increase. Built-to-suit (BTS) projects are becoming increasingly popular, characterized by long leases, premium rentals, and a focus on flexibility and employee experience. As traditional CBD spaces become saturated, emerging areas like North Bangalore and Electronic City are poised for growth, positioning companies that invest in customized workspaces as leaders in the evolving market.

Uploaded by

Atulya Sharma
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Built-to-Suit

Workspaces‌
The Future of India’s Office
Market‌
RECORD-BREAKING GROWTH‌
India’s office real estate leasing touched a record ‌89 msq ft‌in 2024, led by
Bangalore’s historic performance of ‌14.7 msq ft ‌— a ‌66%‌surge year-on-
year. In ‌Q4‌alone, Bangalore absorbed ‌6.7 msq ft‌, the highest ever for a
single quarter. The appetite for premium, customized workspaces is
stronger than ever, with built-to-suit projects at the forefront.‌
WHAT’S POWERING THE SHIFT?‌
WHO’S LEADING THE DEMAND?‌
‌ANATOMY OF A BTS DEAL‌
In Bangalore, the average BTS transaction size stands at ‌0.5 msq ft‌, the‌
highest in India. Leases typically span‌9–15 years‌, with firm lock-ins and‌
premium rentals, often ‌30–50%‌higher than standard office spaces. Built-‌
to-suit agreements today are designed around flexibility, ESG‌
certifications, smart technology integration, and customized employee‌
experience zones.‌
EMERGING HOTSPOTS‌

With CBD spaces saturated, the next growth wave is shifting toward
corridors like ‌North Bangalore, Whitefield, and Electronic City‌.
Connectivity boosts from metro expansions and expressways are
transforming these locations into the new hubs for large-scale BTS
campuses.‌
THE BIG PICTURE‌

Built-to-suit ‌offices offer corporates a strategic edge — locking in prime


locations, designing for future workforce needs, and embedding ‌ESG‌
goals from day one. In India’s rapidly growing economy, Bangalore
remains the epicenter of this shift. The next decade belongs to
companies that invest in workspaces as growth engines, not just places
to work.‌
SOURCES‌
Economic Times (Apr 2025) – Short of quality space, companies go for custom-made offices‌
Hindustan Times (Jan & Apr 2025) – Reports on record office absorption and pre-commitment deal‌
Times of India (Apr 2024) – GCCs take up 35% of office space in 2023‌
Economic Times (Aug 2024) – Embassy REIT signs its largest BTS lease with CBA‌
Economic Times (Nov 2019) – Morgan Stanley strikes big Mumbai office deal‌
Business Standard (2013) – Work space trends in India‌
EPC World (Dec 2024) – Commercial realty: Demand uptick to continue amid market shift‌
Anarock & JLL research highlights (2024–25) on absorption, deal sizes, and pre-leasing trend‌
Knight Frank (H1 2024 report)‌‌
Moneycontrol (Sept 2024) – Century Real Estate to invest in BLR office‌
Colliers and JLL market insights – Various comments on pre-commitments and BTS trends in India’s top cities.‌

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