Strata

Mahavir Jayanti is a time to reflect on the teachings of Mahavir and follow the path of humanity and non-violence. These values continue to guide us toward a more compassionate and responsible society.

Behind everything we've built is a team that made it happen. The women of Strata are a big part of that story.

Happy International Women's Day. Proud to have you with us.

India's office market crossed 1 billion sq ft in 2025, a milestone built over two decades of sustained expansion.

From under 200 million sq ft in 2005 to over 1 billion today, office supply has grown at a CAGR of approximately 8.6%, according to Knight Frank India. This makes India the fourth-largest office market globally, behind the US, China, and Japan.

Grade A stock now accounts for roughly 53% of total supply, with cumulative value estimated at approximately $187 billion.

Bengaluru leads with about 229 million sq ft, followed by NCR and Mumbai. Together, these three markets account for nearly 60% of India's office footprint.

A significant share of this expansion has been driven by Global Capability Centres, which now account for over 40% of annual leasing activity. What began as cost arbitrage has evolved into a global hub for research, engineering, and high-value services.

Despite this scale, India retains a structural cost advantage. Average office rentals remain below $1 per sq ft per month, positioning the country competitively in the global landscape.

Industry projections suggest the next billion sq ft may be added between 2036 and 2041, depending on growth and capital absorption. With several hundred million sq ft of REIT-eligible assets still untapped, the scope for further institutionalisation remains significant.