India Commercial Real Estate Market Size and Report 2033

India Commercial Real Estate Market Size, Share, Trends and Forecast by Type, End Use, and Region, 2025-2033

Report Format: PDF+Excel | Report ID: SR112025A29653

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India Commercial Real Estate Market Overview:

The India commercial real estate market size reached USD 49.80 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 253.32 Billion by 2033, exhibiting a growth rate (CAGR) of 19.81% during 2025-2033. India’s commercial real estate market is driven by rapid urbanization, rising foreign investments, and growing demand for office spaces from information technology (IT), banking, financial services and insurance (BFSI), and startups. Infrastructure development, government reforms like real estate (Regulation and Development) act (RERA) and goods and services tax (GST), and expansion of warehousing and retail sectors further fuel growth, while flexible workspaces and sustainability trends reshape the market.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 49.80 Billion
Market Forecast in 2033	USD 253.32 Billion
Market Growth Rate (2025-2033)	19.81%

India Commercial Real Estate Market Trends:

Rise of Flexible Workspaces

India's office real estate market is experiencing a robust move towards flexible workplaces, fueled by the growth of hybrid work patterns and the need for cost-effective, scalable solutions. In 2024, the flexible workspace industry saw 12.4 million sq ft of leasing, underlining the increasing demand for coworking and managed office space. Bengaluru drove the market with 3.4 MSF, coming close to doubling its 2023 numbers, while Mumbai more than tripled its volume of leasing to 1.9 MSF. Big business houses and startups are embracing flexible leasing platforms to minimize long-term commitment, whereas Tier-2 cities are seeing a high uptake of flex space because of enhanced infrastructure and remote work culture. Furthermore, international companies moving into India and changing employee needs are also propelling this shift, and flexible office spaces are becoming the hallmark of India's commercial real estate.

India Commercial Real Estate Market

Growth in Warehousing & Logistics Infrastructure

The growth in e-commerce, retailing, and manufacturing is fueling demand for large-scale warehousing and logistics facilities. The adoption of GST has standardized supply chain processes, leading to companies setting up centralized distribution centers. Investment in Grade-A warehouses, cold storage, and automation facilities is rising along major industrial corridors. The National Logistics Policy is improving multimodal connectivity, resulting in improved efficiency in goods movement. Also, the demand for last-mile delivery warehouses in metros is gaining steam, leading property developers to pursue well-located logistics parks. Overseas as well as Indian investors are markedly stepping up stakes in India's logistics space, further fueling its evolution as a high-growth asset class.

Rise of Green & Sustainable Buildings

India’s commercial real estate sector is witnessing a strong shift toward sustainability, with developers actively securing green building certifications like LEED and IGBC. In 2024, India retained its third-place global ranking for LEED certifications, adding 370 projects spanning 8.5 million gross square meters. Regulatory policies supporting energy-efficient designs, renewable energy integration, and eco-friendly materials are driving this momentum. Large multinational corporations are prioritizing office spaces with lower carbon footprints to align with global sustainability goals. Government incentives for solar rooftop installations and water-efficient infrastructure further fuel demand for sustainable properties. With increasing investor preference for ESG-compliant assets, developers are embedding green practices into projects, reshaping India’s commercial real estate landscape. As environmental consciousness rises, sustainable developments are becoming a defining feature of the sector’s future growth.

India Commercial Real Estate Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region level for 2025-2033. Our report has categorized the market based on type and end use.

Type Insights:

Rental
Sales

The report has provided a detailed breakup and analysis of the market based on the type. This includes rental, and sales.

End Use Insights:

Offices
Retail
Leisure
Others

A detailed breakup and analysis of the market based on the end use have also been provided in the report. This includes offices, retail, leisure, and others.

Regional Insights:

North India
South India
East India
West India

The report has also provided a comprehensive analysis of all the major regional markets, which include North India, South India, East India, and West India.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

India Commercial Real Estate Market News:

In January 2025, Mindspace REIT acquired Commerzone Raidurg, a premium Grade-A commercial property in Hyderabad’s Madhapur micro-market, for an enterprise value of ₹2,038 crore. Spanning 1.82 million sq ft, the acquisition strengthens Mindspace REIT’s portfolio in a prime business hub. The deal reflects Hyderabad’s growing appeal as a commercial real estate destination, driven by rising office space demand.
In November 2024, Nippon Life India Asset Management Ltd purchased 52,162 sq ft of commercial space from Macrotech Developers (Lodha) at One Lodha Place, Lower Parel, for ₹486.03 crore, per real estate records. The deal includes 43 parking spaces, with ₹29 crore paid in stamp duty. Experts note BFSI firms are increasingly acquiring prime commercial assets for self-use, targeting entire buildings with minimal vacancies.

India Commercial Real Estate Market Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Scope of the Report	Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment: Type End Use Region
Types Covered	Rental, Sales
End Uses Covered	Offices, Retail, Leisure, Others
Regions Covered	North India, South India, East India, West India
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

How has the India commercial real estate market performed so far and how will it perform in the coming years?
What is the breakup of the India commercial real estate market on the basis of type?
What is the breakup of the India commercial real estate market on the basis of end use?
What is the breakup of the India commercial real estate market on the basis of region?
What are the various stages in the value chain of the India commercial real estate market?
What are the key driving factors and challenges in the India commercial real estate market?
What is the structure of the India commercial real estate market and who are the key players?
What is the degree of competition in the India commercial real estate market?

Key Benefits for Stakeholders:

IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India commercial real estate market from 2019-2033.
The research report provides the latest information on the market drivers, challenges, and opportunities in the India commercial real estate market.
Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India commercial real estate industry and its attractiveness.
Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

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