Hyderabad Tops India in GCC Office Rental Index, Reflecting Strong Demand for Premium Workspaces

Hyderabad: Hyderabad has emerged as India’s leading destination for Global Capability Centres (GCCs), recording the highest office rental values among major commercial hubs, according to the latest IIM Bangalore CRE Matrix Global Capability Centre Commercial Property Rental Index for the first quarter of 2026.

The city secured the highest index value of 212.1, outperforming all other major office markets in the country. The report also found that Global Capability Centre occupiers in Hyderabad paid 15% higher office rentals than non-GCC tenants, highlighting the city’s strong demand for premium commercial spaces.

At the national level, the GCC Commercial Property Rental Index stood at 165, with the first quarter of 2014 as the base year (100). The report noted that India’s GCC office rental market has remained stable, registering a three-year compound annual growth rate (CAGR) of 0.9%.

Following Hyderabad, Pune ranked second with an index value of 210.7, where GCC occupiers paid 21% higher rentals than non-GCC tenants. Bengaluru, India’s largest GCC office market, recorded an index value of 190 and posted a three-year rental growth rate of 1.6%.

Among other markets, Navi Mumbai recorded the highest three-year rental CAGR of 13.4%, while parts of Mumbai, Thane, and Chennai also witnessed notable rental growth. The report clarified that the decline in Chennai’s headline index reflected changes in the mix of leased assets rather than an overall fall in rental values. Similarly, softer figures for the Delhi-NCR region were attributed to regional composition changes rather than weaker occupier demand.

The comprehensive study analysed nearly 100 crore square feet of office space, covering more than 2,000 commercial properties and 19,000 leasing transactions across India.

Hyderabad’s top ranking reinforces its position as one of India’s fastest-growing business destinations, driven by robust demand from multinational companies, expanding Global Capability Centres, world-class infrastructure, and a thriving commercial real estate market.