India’s top tech hubs, Bengaluru and Hyderabad, are rapidly transforming into some of the largest office markets in the world, with massive growth projected over the next five years.
Driven by the expansion of global capability centers (GCCs), IT firms, startups, and a strong commercial real estate ecosystem, both cities are expected to add millions of square feet of office space by the end of the decade.
Bengaluru: India’s Office Market Leader
Bengaluru already dominates India’s office space market with a total stock of around 225 million sq. ft. As the city continues to attract global enterprises, it is projected to cross 330 million sq. ft. by 2030.
This represents an addition of 105 million sq. ft. in just the next five years, cementing Bengaluru’s position as one of the largest and most dynamic office markets globally.
The city’s edge comes from its robust IT ecosystem, deep talent pool, and strong infrastructure pipeline. With major multinationals expanding operations in the city, Bengaluru remains the first choice for occupiers setting up technology and R&D centers.
Hyderabad: Rising Challenger
Hyderabad, which has rapidly emerged as a preferred destination for global tech firms, currently has about 140 million sq. ft. of office stock. By 2030, this is expected to surpass 200 million sq. ft., marking an addition of 60 million sq. ft. in the next five years.
With proactive government policies, competitive real estate costs, and world-class campuses in areas like Gachibowli, Financial District, and HITEC City, Hyderabad has become one of the fastest-growing office markets in Asia.
The city is now directly competing with Bengaluru for global occupiers looking at large-scale expansion in India.
Global Context
The rapid expansion in both Bengaluru and Hyderabad highlights India’s growing significance in the global office market. Together, the two cities will add over 165 million sq. ft. of new office space by 2030 — a scale unmatched by most global markets.
With the rise of GCCs, continued foreign investment, and a thriving innovation ecosystem, Bengaluru and Hyderabad are well on their way to joining the ranks of New York, London, and Shanghai as the world’s most important office destinations.
