Priyanka Tiwari
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Suspense crime, Digital Desk : The landscape of corporate real estate in India is undergoing a significant transformation, with demand for office space booming in smaller, localized "micro-markets." According to a new report by property consultant Colliers India, these niche hubs are poised to see leasing activity exceed one million square feet annually in each location.
This surge is a direct consequence of the post-COVID shift towards hybrid work models. Companies are increasingly adopting a "hub-and-spoke" strategy, establishing smaller satellite offices closer to where their employees live. This approach reduces lengthy commutes, enhances work-life balance, and allows businesses to tap into a wider talent pool across different parts of a city.
Colliers has identified between 35 and 40 such emerging micro-markets across India's top seven cities: Delhi-NCR, Mumbai, Bengaluru, Chennai, Hyderabad, Pune, and Kolkata. These areas are rapidly developing into self-sufficient commercial ecosystems with high-quality office spaces, retail outlets, and residential options.
Prominent examples of these thriving micro-markets include Golf Course Extension Road in Gurugram, the Peripheral Ring Road in Bengaluru, and the Malad-Goregaon belt in Mumbai. These once-peripheral locations are now becoming prime destinations for corporate offices.
This trend presents a massive opportunity for real estate developers to invest in and develop quality office infrastructure beyond traditional central business districts (CBDs). The report also notes that this decentralization is not limited to major metropolitan areas, with similar patterns of growth and demand beginning to emerge in Tier-2 cities across the country, signaling a long-term shift in India's commercial real estate market.
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