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The Indian commercial real estate market has witnessed a significant surge in flex office space deals, with a total of 912 transactions recorded across eight major cities from 2018 to the third quarter of 2024, according to Knight Frank India report.
Notably, Bengaluru has emerged as the top market, accounting for approximately 28 per cent of the total deals, with 257 flex office transactions. Bengaluru's dominance is particularly evident in the small-sized segment (under 40,000 sq ft), where it led the market with 150 deals. The National Capital Region (NCR) followed with 96 deals, contributing to a cumulative total of 551 small-sized flex office transactions across the eight cities. In the medium-sized segment (ranging from 40,000 to 80,000 sq ft), Bengaluru again topped the charts with 60 deals, while Pune secured the second position with 33 deals. Overall, 208 medium-sized flex office deals were recorded in the major markets. When it comes to large-sized flex office spaces (over 80,000 sq ft), Bengaluru maintained its frontrunner status with 47 deals, closely followed by Pune with 30 deals. This segment also accounted for 208 medium-sized deals across the eight cities. (ANI)
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