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How India’s New Infrastructure Wave Is Reshaping Real Estate Valuation Beyond 2026

How India’s New Infrastructure Wave Is Reshaping Real Estate Valuation Beyond 2026

India is entering one of the most consequential infrastructure cycles in its modern real estate history. Large-scale investments across airports, expressways, sea links, coastal mobility corridors, and high-speed rail are not merely improving connectivity; they are restructuring how cities grow, how demand redistributes, and how real estate is valued.

Infrastructure today is no longer a peripheral growth factor. It is a primary driver of micro-market reorganisation, influencing sales velocity, pricing sustainability, rental absorption, and developer capital allocation well before projects become fully operational.

What is changing is not just access but economic behavior.

Infrastructure as a Valuation Catalyst

Across Indian cities, valuation cycles increasingly respond to measurable reductions in travel time, clustering of job ecosystems, and convergence of multiple infrastructure assets.

When connectivity improves:

  • Demand shifts closer to new access points
  • Peripheral markets transition into growth corridors
  • Liquidity improves in previously fragmented micro-markets
  • Developers recalibrate product mix and pricing strategies

These effects are visible early in transaction behaviour not after ribbon-cutting events.

1. Noida International Airport (Jewar): NCR’s Next Economic Geography

Market Interpretation

The Yamuna Expressway–Greater Noida belt is already undergoing structural change. Airport-led development historically triggers land consolidation, logistics clustering, and employment-linked housing demand well ahead of operational launch.

What Market Signals Indicate

Land and Asset Repricing During Construction
Airport corridors across India consistently see accelerated land value movement during execution phases. Along the Yamuna Expressway, early developer positioning is visible across logistics, aviation services, and allied industrial uses.

Job-Led Residential Catchments Emerging
Aviation, MRO, hospitality, logistics, and institutional uses are expected to anchor demand across YEIDA sectors, Tech Zone, and parts of Greater Noida West creating residential absorption that is employment-driven rather than speculative.

Stacked Infrastructure Multiplier
When airports coincide with industrial parks, film cities, and manufacturing clusters, valuation uplift compounds. Markets with single infra triggers behave differently from those with multiple anchors.

Micro-markets Showing Structural Strength

  • YEIDA Sectors 17, 18, 20, 22D
  • Tech Zone / Knowledge Park corridor
  • Greater Noida West
  • Logistics belts along Yamuna Expressway

2. Atal Setu (Mumbai Trans Harbour Link): Rewriting MMR’s Demand Map

Market Interpretation

Travel-time compression has altered buyer psychology across Mumbai Metropolitan Region. Accessibility to South Mumbai has redefined demand distribution across Navi Mumbai and select mainland nodes.

What Market Behaviour Reflects

Demand Redistribution, Not Speculation
Ulwe, Panvel, and Dronagiri are seeing tangible increases in buyer and investor activity driven by demonstrated commute efficiency rather than narrative-led optimism.

Commercial Leasing Rebalancing
Improved connectivity is redirecting occupier interest toward Belapur, Ghansoli, Juinagar, and Turbhe markets offering rental efficiency without sacrificing access.

Wadala’s Emerging Redevelopment Potential
With future integration of Coastal Road connectivity and Atal Setu access, Wadala is emerging as a strategic redevelopment zone with long-term commercial and residential relevance.

Markets Gaining Momentum

  • Ulwe, Panvel, Dronagiri
  • Sewri–Wadala–Parel belt
  • JNPT-aligned logistics corridor

3. Mumbai Coastal Road: Structural Upgrade to South Mumbai

Market Interpretation

Coastal mobility projects tend to generate early valuation premiums, especially in waterfront and core-city markets. South Mumbai is already reflecting this pattern.

Emerging Signals

Premium Inventory Demand Strengthening
Luxury housing in Worli–Prabhadevi–Lower Parel is seeing improved enquiry depth, particularly for sea-facing and high-access assets.

Developer Pipeline Acceleration
Improved commute efficiency is enhancing the marketability of premium mid-town projects, encouraging developers to advance launch timelines.

Reduced Urban Drift
Enhanced internal connectivity may slow the long-term northward migration of end-users, stabilising demand in core-city zones.

Markets Benefiting

  • Worli
  • Prabhadevi
  • Lower Parel
  • Mahalaxmi / Haji Ali

4. Mumbai–Ahmedabad High-Speed Rail: Corridor-Level Transformation

Market Interpretation

High-speed rail reshapes regional economics, not just individual cities. Real estate behaviour increasingly aligns along corridors rather than municipal boundaries.

Observed Patterns

Satellite Town Emergence
Nodes such as Virar, Boisar, and Vapi are beginning to attract residential, hospitality, and commercial interest tied to anticipated mobility upgrades.

Industrial and Logistics Acceleration
The Palghar–Vapi manufacturing belt shows rising demand linked to workforce mobility and supply-chain efficiency.

Surat’s Multi-Trigger Growth
With airport upgrades, HSR connectivity, and strong industrial base, Surat is emerging as one of the most structurally supported growth markets in western India.

High-Potential Nodes

  • Thane
  • Virar
  • Boisar
  • Vapi
  • Surat
  • Ahmedabad peripheral belts

What India’s Infrastructure Cycle Means for Real Estate Valuation

Key Market Observations

  1. Travel-Time Reduction Has Direct Pricing Impact
    Even 15–30 minute reductions materially influence buyer willingness to pay and rental viability.
  2. Employment Ecosystems Form Rapidly Around Infra Assets
    Connectivity attracts businesses, which attract workforce, which sustains housing demand.
  3. Developer Capital Follows Infrastructure Predictably
    Launch activity is consistently higher in infra-adjacent micro-markets than in disconnected zones.
  4. Peripheral Markets Transition into Growth Corridors
    This pattern repeats across metros once strategic infrastructure becomes operational.

Key Investor Considerations

  • Valuation uplift often begins before project completion
  • Execution timelines remain the primary risk, not demand creation
  • Residential near job hubs, logistics near mobility corridors, and commercial near access nodes show the strongest resilience
  • Stacked infrastructure delivers disproportionate returns compared to isolated projects

Closing Perspective

India’s infrastructure expansion is not simply improving movement it is redefining urban economics and real estate valuation frameworks. Markets that understand how connectivity reshapes demand, liquidity, and pricing will outperform those reacting only after infrastructure becomes operational.

The next phase of real estate growth will be driven by anticipatory intelligence, not retrospective validation.

1. How does infrastructure development impact real estate valuation in India?
Infrastructure development directly influences real estate valuation by reducing travel time, improving accessibility, and attracting employment ecosystems. These factors increase demand, improve liquidity, and support sustainable price appreciation across connected micro-markets.

2. Does real estate valuation increase only after infrastructure projects are completed?
No. Valuation uplift often begins during the construction phase itself. Markets typically reprice based on expected connectivity improvements, with early transaction activity reflecting anticipatory demand rather than post-completion speculation.

3. Which infrastructure projects are reshaping real estate markets in India?
Major projects such as the Noida International Airport, Mumbai Trans Harbour Link (Atal Setu), Mumbai Coastal Road, and the Mumbai–Ahmedabad High-Speed Rail are significantly reshaping real estate demand, pricing, and development patterns across NCR, MMR, and western India.

4. How do airports influence nearby real estate markets?
Airports act as long-term economic anchors. They drive job creation across aviation, logistics, hospitality, and services, leading to employment-led residential demand, logistics clustering, and commercial real estate growth well before operations begin.

5. Are peripheral markets benefiting more from new infrastructure than core cities?
Yes. Peripheral markets often transition into growth corridors once connected by strategic infrastructure. Improved accessibility allows these areas to attract residential, commercial, and logistics demand, narrowing the valuation gap with established core markets.

6. What should investors consider when evaluating infrastructure-led real estate opportunities?
Investors should assess execution timelines, stacking of multiple infrastructure triggers, proximity to employment hubs, and early demand indicators. Markets supported by multiple infrastructure assets tend to deliver more resilient and disproportionate long-term returns.

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Future of Office Spaces in India: Post-COVID Trends and Structural Opportunities

Future of Office Spaces in India

India’s office market has moved decisively beyond recovery. What began as a post-pandemic reset has evolved into a structurally stronger, more disciplined cycle defined by quality absorption, occupier consolidation, and sustained rental growth.

Contrary to early expectations, hybrid work has not reduced demand for office space in India. Instead, it has reshaped where, how, and what type of office space is being leased.

The data now clearly reflects this shift.

Leasing Momentum: Beyond Pre-COVID Benchmarks

Before the pandemic, India’s Grade A and A+ office market was already on a strong growth trajectory. Between 2018 and 2019, annual leasing volumes averaged ~54 million sq ft.

The post-COVID rebound has exceeded those levels.

  • 2023 leasing demand reached ~62 million sq ft, nearly 15% higher than pre-COVID peaks
  • Leasing activity in Q3 CY’25 alone stood at 19.6 million sq ft
  • In the first nine months of CY’25, absorption touched 62.3 million sq ft, indicating sustained occupier confidence

This is not pent-up demand being released it reflects structural expansion by technology firms, GCCs, BFSI players, and engineering-led enterprises.

Supply Expansion with Improving Discipline

India’s office market crossed a significant milestone in Q3 2025, with Grade A/A+ stock surpassing 1 billion sq ft.

What makes this cycle distinct from earlier ones is not just scale but balance.

  • Demand is consistently outpacing new completions
  • The demand-to-supply ratio stands at ~1.2x, indicating absorption strength
  • Vacancy levels have declined to multi-quarter lows, despite continued stock additions

This marks a departure from earlier cycles where aggressive supply often preceded demand, leading to prolonged vacancy overhangs.

Rental Performance: From Stability to Growth

Rental behaviour is now reflecting tightening market conditions.

  • Pan-India weighted average passing rents reached ₹92.1 per sq ft/month in Q3 CY’25
  • Rental growth is no longer limited to CBDs; high-quality peripheral corridors are also seeing upward pressure
  • Markets with strong GCC and multinational occupier presence are leading rental hardening

This shift indicates that occupiers are prioritising quality, compliance, efficiency, and talent access and are willing to pay for it.

What Has Changed in Post-COVID Office Demand

1. Quality Over Quantity

Occupiers are consolidating into Grade A+ assets, reducing exposure to inefficient or non-compliant buildings.

2. Office as a Strategic Asset

Offices are now seen as collaboration, innovation, and talent-retention hubs not just cost centres.

3. GCC-Led Expansion

Global Capability Centres continue to be a major absorption driver, providing long-term stability across Bengaluru, Hyderabad, Pune, and NCR.

4. Flight to Managed Ecosystems

Integrated business parks with strong infrastructure, amenities, and ESG readiness are outperforming standalone assets.

Emerging Opportunities Across the Value Chain

For Developers

  • Focus on future-ready Grade A+ assets
  • Emphasis on sustainability, flexibility, and efficiency
  • Disciplined phasing aligned with demand visibility

For Investors and REITs

  • Strong re-leasing visibility due to tightening vacancy
  • Rental growth supporting yield stability
  • Asset quality differentiation becoming more pronounced

For Occupiers

  • Early-mover advantage in emerging corridors
  • Portfolio optimisation across cities
  • Ability to lock in space before further rental hardening

Outlook: The Next Phase of Office Growth

India’s office market has entered a post-pandemic expansion phase, not a recovery phase.

With:

  • Leasing volumes consistently above pre-COVID levels
  • Vacancy tightening despite large stock additions
  • Rentals showing broad-based upward movement

…the office sector is positioned for sustained, demand-led growth.

The future of office spaces in India will be shaped less by remote-work narratives and more by economic expansion, global integration, and the country’s role as a core office destination.

1: What is the future of office spaces in India after COVID?

India’s office market has moved beyond recovery into a structural growth phase. Leasing volumes are consistently above pre-COVID levels, vacancies are tightening, and rentals are showing broad-based growth driven by GCCs and multinational occupiers.

2: Has hybrid work reduced office space demand in India?

No. Hybrid work has reshaped office demand rather than reduced it. Occupiers are prioritising high-quality Grade A and A+ offices that support collaboration, compliance, and employee experience, leading to consolidation rather than contraction.

3: Which sectors are driving office leasing demand in India?

Technology firms, Global Capability Centres (GCCs), BFSI players, and engineering-led enterprises are the primary drivers of office space absorption across key markets such as Bengaluru, Hyderabad, Pune, and NCR.

4: Are office rentals increasing in India post-COVID?

Yes. Pan-India weighted average office rents have entered a growth phase, supported by tightening vacancies and sustained occupier demand, especially in markets with strong multinational and GCC presence.

5: What opportunities does the post-COVID office market create for developers and investors?

Developers benefit from demand for future-ready Grade A+ assets, while investors and REITs gain from improving rental growth, strong re-leasing visibility, and clearer asset quality differentiation.

6: Is India still an attractive office destination globally?

Yes. India continues to strengthen its position as a global office destination due to economic expansion, global integration, talent availability, and long-term GCC-led demand.

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IBM Leases 1.62 Lakh Sq Ft at Embassy Golflinks, Bengaluru for ₹2.4 Cr Monthly Rent

IBM Embassy Golflinks Bengaluru lease

In one of the largest commercial leasing transactions of 2025, IBM India Pvt. Ltd. has leased 161,884 sq ft of Grade-A office space at Embassy Golflinks Business Park (EGL), Bengaluru. According to documents accessed by CRE Matrix, the transaction was registered on 23 September 2025.

Transaction Structure and Financial Terms

IBM India Pvt. Ltd., the licensee in the transaction, has leased a total built-up area of 161,884 sq ft. The starting monthly rent is ₹2,42,82,600, translating to ₹150 per sq ft. The company has paid a security deposit of ₹14,56,95,600 for the lease. This runs for a total tenure of 60 months with a lock-in period of 36 months. The agreement also provides IBM with 216 car parking slots at a charge of ₹4,526.70 per slot. IBM was scheduled to take possession on 17 April 2025, followed by a 45-day rent-free fit-out period before full rent commences.

Fit-Out Terms Highlight Long-Term Occupation Strategy

The lease includes a detailed fit-out arrangement that reflects a large-scale and long-term workspace buildout. During the fit-out phase, IBM will pay a fit-out rent of ₹63.09 per sq ft and has furnished a fit-out security deposit of ₹6,12,79,569. This is equivalent to six months of fit-out charges. Major technology and consulting firms typically use such commercial terms when they make substantial investments in customized office infrastructure. They do this to support delivery, engineering, and innovation-led teams.

Prime Campus Location Strengthens EGL’s Market Position

IBM has leased space across Unit 3 and Unit 4 on the third floor and Unit 1 and Unit 2 on the fourth floor of the Pine Valley block at Embassy Golflinks, Challaghatta. Positioned between Koramangala and Old Airport Road, Embassy Golflinks Business Park remains one of India’s most sought-after integrated technology campuses.

The park continues to attract Fortune 500 occupiers across IT services, BFSI, cybersecurity, research and development, and consulting sectors. IBM’s high-value lease further reinforces the sustained demand for Grade-A office spaces in Bengaluru. Furthermore, it highlights the city’s continued importance as a global technology and business hub.

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Current Trends in Commercial Real Estate (CRE) in India

Current Trends in Commercial Real Estate (CRE) in India

India’s Commercial Real Estate (CRE) sector is undergoing a strong growth phase, driven by rising office demand, expanding infrastructure, and stable economic fundamentals. For investors, developers, and occupiers, CRE is becoming one of the most attractive asset classes due to its high yield potential, low volatility, and increasing institutional participation.

This blog covers:

Key drivers fueling India’s CRE boom
Emerging trends across office, retail, warehousing, and mixed-use segments
City-wise performance and hotspots
Risks affecting the sector
The 3–5-year outlook for CRE investors

What’s Driving the CRE Boom in India

Economic Growth & Urbanization

Growth in Urban Population & Tier-2/3 Cities

India’s rapid urbanization is shifting demand toward business districts, IT parks, and commercial hubs. With Tier-2 and Tier-3 cities improving their infrastructure and talent base, they are emerging as the next hotspots for office development and flexible workspaces.

Expansion of Industries and Outsourcing Sectors (IT/ITeS, Retail, Logistics)

Sectors like IT/ITeS, BFSI, GCCs, retail, and e-commerce continue to be the backbone of office demand. Global Capability Centers (GCCs) are expanding, particularly in Bengaluru, Hyderabad, Chennai, Pune, and NCR.

Demand for Flexible Workspaces & Co-Working

Rise of Startups and SMEs — Shift from Traditional Offices

With cost optimization becoming a priority, companies are preferring plug-and-play coworking and managed office spaces. Startups and SMEs are driving this flexible ecosystem.

Influence of the Hybrid Working Model Post-Pandemic

Hybrid models have reshaped office leasing patterns. Demand is now spread across both central business districts (CBDs) and peripheral micro-markets, as seen in Whitefield (Bengaluru) and North Chennai — both witnessing strong quarterly rental growth.

Infrastructure Development & Connectivity

Government Initiatives: Metro, Smart Cities, Road/Rail Connectivity

Large-scale metro expansions, smart city missions, and new expressways (like Dwarka Expressway, Mumbai Coastal Road) are directly enhancing commercial property demand.

Impact on Commercial Property Valuations

Areas with improving connectivity—like NCR’s NH-48 Prime—have seen office rents rise over 16% YoY and a 3-year CAGR of 10.1%, demonstrating strong value creation where infra growth is taking place.

Key Emerging Trends in CRE (2024–2026)

Rise of Logistics & Warehousing Real Estate

E-Commerce Boom & Demand for Storage + Last-Mile Delivery Hubs

Online retail and 3PL logistics companies are aggressively expanding warehousing spaces across Mumbai, NCR, Pune, and Hyderabad.

Incentives for Industrial Parks & SEZs

Government support for logistics parks, free trade zones (FTZs), and industrial corridors is accelerating investor interest.

Shift Towards Grade-A Office Spaces with ESG/Green Certifications

Growing Preference for Energy-Efficient, Sustainable Buildings

Corporates now prefer Grade-A, IGBC/LEED-certified office buildings due to energy efficiency, compliance requirements, and employee well-being.

Demand from Multinational & Large Indian Firms

Fortune 500 companies and GCCs are driving bulk leasing in Grade-A corridors in Bengaluru, Mumbai, NCR, and Hyderabad.

Diversification: Retail, Mixed-Use & Co-Living Developments

Mixed-Use Developments Combining Offices, Retail, F&B, Recreation

Integrated townships and mixed-use business parks are becoming the norm, offering office spaces along with malls, food courts, entertainment, and residential blocks.

Co-Living / Serviced-Apartment Growth in Metros

Cities with strong migrant populations—Bengaluru, Mumbai, Pune, NCR—are seeing rapid expansion in co-living and serviced apartments.

Regional Hotspots & Emerging Cities

Metro Cities vs Tier-2 / Tier-3 Cities

Overview of Metros (Mumbai, Bengaluru, NCR, Pune)

Delhi NCR: Led the country with a 16.4% YoY surge in office rentals between April–June.
Mumbai: Recorded the highest quarterly rental growth of 3.6%, reaffirming its position as India’s most resilient office market.
Bengaluru: Whitefield shows strong momentum as companies shift outside CBDs.
Chennai: Northern suburbs are witnessing increased leasing activity.

Emerging Strength in Cities Like Hyderabad, Ahmedabad, Jaipur, Coimbatore

Improving infrastructure, growing IT presence, and business-friendly policies are boosting these cities’ CRE prospects.

What Makes a City Attractive for CRE Investors

Connectivity, Talent Pool, Business Environment, Policy Incentives

A combination of strong transport networks, skilled workforce, government incentives, and presence of top corporates makes a market favorable for CRE investment.

Challenges & Risks Affecting CRE in India

Regulatory & Compliance Issues

Real Estate Regulations, Approvals, RERA Impact

While RERA has brought transparency, regulatory approval cycles remain slow in several states.

Heterogeneous Tax & Compliance Environment Across States

Tax incentives, stamp duties, and policy rules differ widely across regions.

Economic Cycles & Global Uncertainty

Impact of Global Recession Risks, Interest Rate Fluctuations

Economic uncertainties can delay leasing decisions and slow down new construction.

Vacancy Rates, Rental Yield Pressures

Certain micro-markets continue to face oversupply challenges.

Sustainability & Environmental Considerations

Need for Green Certification, Energy Efficiency, Waste Management

Corporate occupiers increasingly demand buildings that meet sustainability metrics.

Balancing Profitability vs ESG Compliance

Developers often weigh upfront costs vs long-term operational efficiencies.

Outlook: What to Expect in the Next 3–5 Years

Continued Growth in Logistics & Warehousing

Driven by e-commerce and supply chain modernization.

Greater Demand for Hybrid & Flexible Office Spaces

Coworking and managed offices will continue strong leasing momentum.

Rise of Mixed-Use and Integrated Developments

More developers will adopt the work + live + shop format.

Increased Focus on ESG, Tech-Enabled Facilities, and Investor Interest

Smart buildings, automation, energy-efficient designs, and REIT participation will rise.

FAQs About CRE in India

Is investing in CRE a good idea right now in India?

Yes, CRE remains attractive due to stable rentals, strong demand in Grade-A markets, and growth in logistics/warehousing. However, investors should evaluate market risks and the supply-demand balance.

Which cities offer the best returns for CRE investors?

Mumbai, Bengaluru, NCR, Hyderabad, and Pune are top choices. Emerging cities like Ahmedabad, Jaipur, and Coimbatore are gaining traction due to rising infrastructure and business activity.

How does sustainability (green buildings) affect CRE investment value? Green-certified buildings often command higher rentals, lower vacancy, and increased investor preference due to ESG compliance requirements.

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Brokerage Firm Sharekhan Ltd Sells Office Space in Mumbai’s Dadar for ₹45 Crore

Sharekhan Ltd Sells Office Space in Mumbai’s Dadar

Indian stock broking firm Sharekhan Limited has sold its office space in Mumbai’s Dadar locality for ₹45 crore, according to property registration documents accessed by CRE Matrix. The transaction highlights continued demand for quality commercial assets in prime central Mumbai locations.

The company had originally acquired the office space in November 2010 for a little over ₹31 crore. With the latest transaction, the asset has recorded an appreciation of over 42% in around 15 years. This indicates the long-term value of well-located commercial real estate in the city.

The property has been purchased by DE-Max Fincap Advisors Private Limited, which already operates out of the same building. The transaction reflects an expansion or consolidation move by the buyer, leveraging familiarity with the building and its strategic location.

As per the registration documents, the deal involved a stamp duty payment of ₹3.27 crore. Additionally, it included a registration fee of ₹30,000. Sharekhan sold the office space along with 20 car parking spaces. The parties officially registered the agreement on December 3, 2025.

The office unit has a carpet area of 11,820 sq ft and is located on the 18th floor (South West Wing) of the 20-storey commercial tower ‘The Ruby’. Positioned near Dadar railway station, the building enjoys excellent connectivity and proximity to Mumbai’s key central business corridors. This makes it a highly sought-after address for financial and professional services firms.

Recent Transactions

Recent office space transactions in Mumbai reflect sustained corporate demand for premium, well-connected commercial assets. This demand is driven by consolidation, long-term investment strategies. It also reflects strong confidence in Mumbai’s key business districts despite evolving workplace dynamics.

In a recent transaction, Sporta Technologies Private Limited, Dream11’s Parent Company, secured a 1.70 lakh sq ft office lease in Worli for ₹334 Crore. In another transaction, Amazon renewed its lease for over 94,000 sq ft of office space at Godrej Two in Vikhroli for a five-year term, with a monthly rent of ₹1.73 crore.

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Kwality Wall’s Signs 5-Year, ₹89.5-Lakh Monthly Office Deal in Goregaon

Kwality Wall's leases office space in Goregaon

Kwality Wall’s (India) has finalized a significant commercial real estate agreement for a fully fitted, dedicated workspace on the 13th floor of Oberoi Commerz II, part of Oberoi Garden City in Goregaon East, Mumbai. The deal was signed with Tablespace Technologies Limited, the sub-licensor and workspace operator. The registration was filed on November 27, 2025, as per data analysed by CRE Matrix.

Under the service and occupancy agreement, the ice-cream major will pay a starting monthly rent of ₹89,50,000. The deal also includes a security deposit of ₹2.685 crore. The contract includes a 5% annual escalation, aligning the rental structure with prevailing rates in Mumbai’s Grade-A commercial office markets. The documents also confirm a 60-month tenure with a matching 60-month lock-in. This is an unusually long lock-in period in the city’s leasing landscape.

The leased office is designed to support extensive team operations, offering 180 workstations alongside a full suite of meeting rooms and executive cabins. The layout features four director cabins, a 10-seater dedicated meeting room, two 8-seater boardrooms, two 6-seater meeting rooms, four 4-seater meeting rooms, and six single-person phone booths. Tablespace was supposed to hand over the fully furnished, ready-to-operate premises on December 1, 2025, as specified in the annexures of the agreement.

The agreement lays out comprehensive operational and compliance obligations typical of high-value commercial occupancy contracts. Tablespace, as the operator, is responsible for providing all the listed facilities and services, while Kwality Wall’s is required to use the premises exclusively for business operations. The contract mandates compliance with all government regulations and GST norms and prohibits termination during the 60-month lock-in period.

Registered on November 27, 2025, with the Joint Sub-Registrar, Mumbai, the detailed service agreement outlines all operational, financial, governance, and indemnity clauses, including terms related to maintenance responsibilities and capex recovery.

Recent Transactions

Recent commercial office transactions in Mumbai continue to highlight rising demand for Grade-A workspaces, long lock-in commitments, and premium rentals. From major corporates to fast-growing brands, companies are securing high-value leases across prime business districts. This signals sustained confidence in the city’s office market.

In a recent transaction, Eternal Ltd, formerly known as Zomato, signed a five-year lease for 84,157 sq. ft. of prime office space in Andheri, Mumbai. In another transaction, Amazon renewed its lease for over 94,000 sq ft of office space at Godrej Two in Vikhroli for a five-year term.

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WeWork Leases 1.76 Lakh Sq Ft at Skyview 20 in Hyderabad, Sub-Leases Entire Space to JP Morgan

WeWork Leases 1.76 Lakh Sq Ft at Skyview 20

In one of Hyderabad’s biggest office deals this year, WeWork India has leased 1,75,953 sq ft at Skyview 20 in Hitech City, Madhapur. The space was immediately sub-leased to JP Morgan Services India Pvt Ltd, as confirmed by documents accessed by CRE Matrix.

The master lease between Mahanga Commercial Properties and WeWork, and the sub-lease between WeWork and JP Morgan, were both registered in November 2025. The back-to-back execution highlights the rapid uptake of premium offices in Hyderabad’s technology corridor.

WeWork has taken the space on a 60-month lease with a starting monthly rent of ₹1.72 crore. The security deposit is ₹10.34 crore. The area covers two floors—501 and 601 and includes 176 parking slots. The handover was done on 1 July 2025, followed by a four-month fit-out and rent-free period. With rent fixed at ₹98 per sq ft, the deal signals WeWork’s strong push into the Hyderabad market. It also reflects the city’s rapidly growing demand for flexible workspaces.

On 13 November 2025, WeWork sub-leased the entire area to JP Morgan at a significantly higher monthly rent of ₹4.38 crore. The agreement comes with a security deposit of ₹25.97 crore. JP Morgan will occupy the same floors, fitted with 1,501 desks as part of a managed office solution. The sub-lease runs for 60 months with a 24-month lock-in and a 5 percent annual rent escalation. Fit-out charges were set at ₹3,540 per sq ft, and the handover was done on 15 November 2025.

The sharp rent spread from ₹98 per sq ft in WeWork’s lease to ₹249 per sq ft in JP Morgan’s sub-lease shows the premium commanded by fully built, high-quality managed offices. It also highlights how global firms are increasingly opting for ready-to-move, service-backed workspaces over traditional bare-shell leases.

Skyview 20, located along Hitech City Main Road, remains one of Hyderabad’s most sought-after Grade-A office destinations. Its strong connectivity, modern infrastructure, and proximity to major IT hubs continue to draw multinational banks, tech companies, and enterprise occupiers. Additionally, the WeWork–JP Morgan deal further elevates its position as a top-tier commercial asset in the city.

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Scootsy, Swiggy’s Logistics Arm, Secures ₹20 Lakh/Month Warehousing Space in Bhiwandi

Scootsy leases warehouse in bhiwandi

Swiggy’s logistics subsidiary, Scootsy Logistics Pvt Ltd, has expanded its warehousing footprint in the Mumbai Metropolitan Region by leasing a total of 1.21 lakh sq ft of space in Bhiwandi. The company will pay a combined monthly rent of ₹19.98 lakh for these facilities, according to registration documents accessed by CRE Matrix.

All the spaces are located within Global Logistic Park, a major warehousing hub known for its connectivity and Grade-A infrastructure. The four agreements were registered on October 31, 2025. The rentals commenced on September 1, 2025, with each lease running for a tenure of two years.

The largest of the four leases involves 69,687.5 sq ft taken from Qureshi Massrunisa for a monthly rent of ₹12.1 lakh. This block, comprising units 7, 10, 11, 12, 13, and 14 on the ground floor, is subject to a security deposit of ₹24.2 lakh. Scootsy is paying ₹17.36 per sq ft per month. In another agreement, the company leased 32,387.5 sq ft from Malunge Shivaji Vishnu. This has a monthly rent of ₹4.87 lakh and a security deposit of ₹9.74 lakh. This space includes units 8A, 8B, 8K, 9A, 9B, and 9K on the ground floor. For this, Scootsy will pay ₹15.04 per sq ft per month.

Scootsy also signed a third lease for 7,000 sq ft with Chougle Fya Anjum at a monthly rent of ₹1.15 lakh. It also includes a security deposit of ₹2.31 lakh. This area covers units 9H, 7E, and 11H, where the company is paying ₹16.53 per sq ft per month. The fourth agreement is for 12,300 sq ft taken from Patil Balaram Vitthal at a monthly rent of ₹1.85 lakh. The security deposit is ₹3.70 lakh. This deal includes units 9D and 10C, also located on the ground floor. The rent stands at ₹15.04 per sq ft per month.

All four transactions have a handover date of September 1, 2025. However, Scootsy will receive a 30-day rent-free or fit-out period from that date. The lease structure includes a 12-month lock-in period, after which rentals will escalate by 5 percent. The deal structure reflects a planned distribution and logistics strategy designed to strengthen Swiggy’s backend infrastructure across the Mumbai region.

This warehousing expansion aligns with Swiggy’s broader investment plans for its logistics operations. In February 2025, the company announced a ₹1,000 crore investment into Scootsy Logistics through a subscription to a rights issue. As Swiggy continues to scale its express and same-day delivery network, expanding warehousing capacity in high-demand zones like Bhiwandi is a critical component of its long-term growth strategy.

Recent Transactions

Bhiwandi is seeing steady leasing activity. Major occupiers are expanding their footprint in the region. The latest deal comes from Swiggy’s Scootsy. Additionally, the company has taken multiple warehouses on lease. This strengthens Bhiwandi’s position as a key logistics hub near Mumbai.

In a recent transaction, DHL Supply Chain India Pvt Ltd leased 4.17 lakh sq ft of warehouse space in Bhiwandi. In another transaction,  Zomato Hyperpure secured over 5.5 lakh sq ft in the same location.

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DHL Supply Chain Expands Footprint with Major Warehouse Lease in Bhiwandi

DHL Leases warehouse in Bhiwandi

DHL Supply Chain India Pvt Ltd has strengthened its logistics presence in the Mumbai Metropolitan Region by leasing 4.17 lakh sq ft of warehouse space in Bhiwandi, one of India’s most prominent warehousing hubs. The transaction is valued at over ₹32 crore, as per the property registration documents accessed by CRE Matrix.

The facility is located in One Samruddhi Park, Bhiwandi, strategically positioned near the starting point of the 700 km Mumbai–Nagpur Samruddhi Expressway. This connectivity advantage enhances access to key consumption and manufacturing corridors across Maharashtra.

The facility falls under the ownership of Merriment Properties Private Limited. DHL will pay a starting monthly rent of ₹91.90 lakh with a security deposit of ₹2.76 crore. The deal translates to a starting rent of ₹22 per sq ft. The lease term is 36 months, spanning from October 2025 to September 2028. However, October 2025 will be a rent-free period, with rentals commencing in November.

Additionally, the agreement carries a nine-month lock-in period. The transaction, registered on November 7, 2025, attracted a stamp duty of over ₹9.04 lakh.

Bhiwandi: A Strategic Warehousing Hotspot Near Mumbai

Over the years, Bhiwandi has evolved into one of the most significant warehousing destinations in the Mumbai Metropolitan Region. Additionally, its proximity to key consumption centres such as Mumbai, Thane, and Navi Mumbai makes it a preferred choice for logistics and e-commerce players.

Moreover, the region’s excellent connectivity via the Mumbai–Nashik Highway, Eastern Express Highway, and JNPA port corridor strengthens its role as a central distribution hub. With the upcoming Mumbai–Nagpur Samruddhi Expressway, Bhiwandi is set to gain even greater accessibility, further boosting demand for large-format warehouses.

Consequently, several global occupiers, 3PL providers, and retail companies continue to lease significant warehousing spaces in the area. As a result, Bhiwandi consistently records some of the highest leasing activity in the Mumbai warehousing market, reaffirming its position as a powerhouse in India’s logistics landscape.

Recent Transactions

Mumbai’s warehouse leasing momentum remains strong, supported by sustained demand from logistics, retail, and e-commerce players. Recent big-ticket transactions across Bhiwandi and surrounding micro-markets underline the region’s importance as a central distribution hub.

In a recent transaction, Zomato Hyperpure leased over 5.5 lakh sq ft of warehousing space in Bhiwandi. In another transaction, FM India Supply Chain Private Limited leased 1.31 lakh sq ft of industrial space at Lodha Industrial Park, located in Palava City, Thane district.

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Zomato Hyperpure Expands Supply Chain with 5.5 Lakh Sq Ft Lease in Bhiwandi

Zomato Leases Warehouse Space

Zomato Hyperpure, the business-to-business division of Eternal Ltd (formerly Zomato Ltd), has made a significant move to scale its supply chain infrastructure by leasing over 5.5 lakh sq ft of warehousing space in Bhiwandi near Mumbai. According to data from CRE Matrix, the company has paid a security deposit of ₹8.57 crore and stamp duty of ₹26.98 lakh for the lease registration.

The facility, located at Hiranandani Industrial Park, Mauje Pogaon, spans 553,249 sq ft and has been taken on a five-year lease with a 48-month lock-in period. The agreement starts with a monthly rent of ₹1.71 crore and includes a 150-day rent-free period to facilitate fit-out work and operational setup before rent payments commence in full.

This marks Hyperpure’s second major warehousing lease in Bhiwandi within two months. In September, the company took up another 250,000 sq ft facility in the same region. The consistent expansion reflects Zomato’s commitment to building a robust, tech-enabled logistics network to support its fast-growing B2B food supply business.

Bhiwandi has long been a preferred warehousing and logistics hub in the Mumbai Metropolitan Region (MMR). Its connectivity to Mumbai, Thane, and Navi Mumbai, and its proximity to the Mumbai–Nashik Highway and Jawaharlal Nehru Port (JNPT) make it ideal for large-scale occupiers such as e-commerce, retail, and food service companies.

It should be noted that large, structured leases like this underline sustained demand for Grade A warehousing in India. The country’s warehousing sector continues to see robust traction driven by rising consumption, e-commerce growth, and supply-chain consolidation.

As companies prioritize efficiency and scalability, the trend is shifting towards long-term leases in modern, tech-integrated industrial parks. Zomato Hyperpure’s latest move is a clear example of this transformation, where logistics infrastructure becomes a strategic growth enabler, not just a backend function.

With demand from sectors such as manufacturing, retail, and food services continuing to rise, industry watchers expect this momentum to sustain well into the next few years.

Recent Transactions

Mumbai’s warehousing market continues to attract major occupiers, with several large-scale lease deals recently signed across key logistics hubs like Bhiwandi and Panvel. Strong connectivity, rising consumption, and Grade A infrastructure are driving sustained demand from e-commerce, retail, and manufacturing players.

In a recent transaction, FM India Supply Chain Private Limited leased 1.31 lakh sq ft of industrial space at Lodha Industrial Park, located in Palava City, Thane district, near Mumbai.

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