Business
India’s Office Space Demand Set To Get A Boost As 85% Firms Eye Expansion In Two Years: Report
Last Updated:
India’s office market is entering a defining decade, marked by both resilience and reinvention, according to CBRE India.
Flex space operators continue to hold a significant share of India’s office leasing, consistently accounting for over 15% of annual absorption.
Office space demand in India is set to get a major boost, with 85% of domestic firms planning to expand their portfolios over the next two years, according to real estate consultancy firm CBRE’s latest India Office Occupier Survey 2025. The intent marks a sharp rise from 73% in 2024, reflecting stronger business sentiment, digital adoption and a shift towards an office-first approach.
The report noted that companies have bounced back strongly since the pandemic years. Leasing by domestic firms during 2023-24 was nearly 86% higher compared to pre-Covid levels in 2018-19. “India’s office market is entering a defining decade, marked by both resilience and reinvention,” said Anshuman Magazine, Chairman & CEO of CBRE for India, South-East Asia, the Middle East & Africa.
Office-First Policies Gaining Ground
The survey found that 94% of firms now prefer employees to work from office at least three days a week. More than half the companies (52%) have already adopted a full return-to-office policy, compared with 36% last year.
Flexible Workspaces On The Rise
Flex space operators continue to hold a significant share of India’s office leasing, consistently accounting for over 15% of annual absorption. The trend is expected to accelerate, with more companies planning to allocate up to half of their office portfolios to flexible workspaces in the coming years. Smaller occupiers, in particular, are leading this shift, 58% of them intend to place more than 10% of their office footprint in flex spaces within two years, according to the CBRE report.
GCCs Fuelling Expansion
Global capability centres (GCCs) remain one of the strongest demand drivers, contributing 35-40% of total annual office absorption. The survey found that 65% of GCCs expect to expand in the next two years, especially in sectors such as banking and financial services, life sciences, and engineering. Average deal sizes by GCCs have also grown, rising to about 108,000 sq. ft. in the first half of 2025 from 91,000 sq. ft. in 2024, it added.
Ram Chandnani, Managing Director-Leasing, CBRE India, said, “GCCs alone account for about 35-40% of absorption, driven by their rapid evolution into high-value innovation hubs. Flexible workspaces are no longer a secondary option; they are becoming integral to occupier strategies.”
ESG and Smaller Cities Gaining Traction
Sustainability has emerged as a key focus, with nearly three-fourths of GCCs already setting ESG targets for their real estate portfolios. At the same time, more occupiers are eyeing tier-II and tier-III cities for growth, citing access to skilled talent, lower costs, and improving infrastructure, CBRE said.
CBRE expects these forces — office-first strategies, flex space adoption, GCC expansion, and sustainability — to shape India’s office market in the years ahead, reinforcing the country’s position as a global office hub.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
September 13, 2025, 15:41 IST
Read More
New Delhi: With only three days remaining to file Income Tax Returns (ITRs) for FY 2024-25, taxpayers are facing technical issues across key e-filing platforms, adding to the usual end-of-season stress. The Annual Information Statement (AIS), Form 26AS, and Taxpayer Information Summary (TIS) portals have been intermittently down due to high traffic, leaving users frustrated and venting on social media.
This year, filings have been slower than last year. By September 11, only 5.47 crore returns had been submitted, compared to 7.28 crore by July 31, 2024. The TRACES portal, which is essential for accessing Form 26AS, downloading TDS certificates, and verifying tax credits, has also been unavailable since September 11, further complicating matters for taxpayers and professionals.
Recommended System Requirements
To avoid technical issues, the Income Tax Department recommends:
Browsers: Microsoft Edge (v88+), Chrome (v88+), Firefox/Mozilla (v86+), Opera (v66+)
Operating Systems: Windows 7 or higher, Linux, Mac OS
Other Requirements: CSS and JavaScript enabled, cookies allowed, and a Class 2 or Class 3 Digital Signature Certificate (DSC) for certain filings
Late ITR Utility Releases Add Pressure
This year’s filing process has been more challenging due to late release of ITR utilities. The CBDT extended the non-audit ITR deadline from July 31 to September 15, but most utilities became available later than usual:
29 May 2025: ITR-1 & ITR-4 Excel utilities
4 June 2025: ITR-1 & ITR-4 online utilities
11 July 2025: ITR-2 & ITR-3 Excel utilities
17 July 2025: ITR-2 online utility
30 July 2025: ITR-3 offline & online utility
8 August 2025: ITR-5 Excel utility
14 August 2025: ITR-6 Excel utility
Last year, most forms were released by early April, giving taxpayers nearly three months to prepare. This year, the compressed timeline has put extra pressure on both individuals and chartered accountants.
Bank Holidays Could Complicate Cash Payments
The upcoming weekend and bank holiday on September 13-14, combined with the 2nd Saturday on September 13, raises concerns for taxpayers needing to deposit cash for tax payments. Officials have not yet clarified whether banks will remain open.
Penalties for Missing the Deadline
Missing the ITR deadline can be costly:
Late filing fee: Up to Rs 5,000 (capped at Rs 1,000 for incomes below Rs 5 lakh)
Interest: 1 percent monthly on unpaid tax, calculated on a part-month basis
Expert Tips to Avoid Last-Minute Hassles
Check system compatibility: Ensure your browser, OS, and DSC meet requirements
Prepare documents early: Keep Form 26AS, AIS, and TIS ready
File early: Avoid peak hours to reduce portal downtime
Stay informed: Check official e-filing updates and notices
For smooth filing, use the official Income Tax Department e-filing portal: https://www.incometax.gov.in/iec/foportal/
.
New Delhi: In a major push for cheaper and faster cross-border remittances, India Post has teamed up with NPCI International Payments Ltd. (NIPL) and the Universal Postal Union (UPU) to launch a new digital initiative linking India’s Unified Payments Interface (UPI) with the UPU’s Interconnection Platform. The system was unveiled at the 28th Universal Postal Congress in Dubai by Union Communications Minister Jyotiraditya Scindia.
The integration aims to slash remittance costs and transfer times, giving millions of overseas Indian workers, small traders and e-commerce operators a faster and more convenient way to move money. Leveraging India’s home-grown UPI network, the project extends the country’s successful digital payments model to an international stage, boosting financial inclusion worldwide.
Under the new system, funds sent from abroad can be picked up at designated post offices using a valid ID and reference number. If the recipient holds an India Post Payments Bank (IPPB) account, the money can be credited directly—removing the need to visit a branch. This makes remittances simpler and safer for users with limited access to traditional banks.
Beyond personal remittances, the initiative is expected to benefit exporters, small businesses and e-commerce firms engaged in frequent overseas transactions. By connecting with the UPU’s network of over 190 countries, the system improves accessibility and reliability, reducing friction in global trade.
India Post already offers international transfer services through partners like MoneyGram and Western Union. The new UPI-UPU link complements these options by offering a low-cost, digital-first alternative to traditional money transfers—positioning India Post as a direct competitor to established players.
This initiative reflects India’s growing leadership in digital payment innovation and aligns with global trends favouring tech-driven financial services. By undercutting fees and cutting transfer times, it could significantly disrupt a market long dominated by legacy remittance companies, opening the door to a more inclusive and efficient cross-border payments ecosystem.
Gold prices fell in domestic and international markets on Saturday, tracking a slight dip in global rates. The international bullion rate eased by $2 to $3,643 an ounce, leading to a Rs200 decline in the local 24-carat gold rate to Rs386,300 per tola, according to the All Pakistan Gems and Jewellers Association.
The price of 10 grams of 24-carat gold slid by Rs172 to Rs331,189.
Silver also registered losses, with the per-tola rate down Rs13 to Rs4,443 and 10 grams lower by Rs11 to Rs3,807.
The association said prices reflect prevailing global market trends and currency movements.
Read: Gold prices retreat in Pakistan after reaching record highs
Earlier on Thursday, gold and silver prices fell in both international and domestic markets after reaching all-time highs in Pakistan.
In the international bullion market, the price of gold dropped by $36 per ounce to settle at $3,618. The decline pulled local prices lower as well, with 24-carat gold slipping by Rs4,100 per tola to Rs384,000.
The price of 10 grams also decreased by Rs3,515 to Rs329,218.
Silver mirrored the trend, with the price per tola falling by Rs36 to Rs4,326 and 10 grams easing by Rs32 to Rs3,736.
Bullion dealers attributed the fall to international market corrections and said local demand remained subdued amid price volatility.
NFL to let teams decide on Charlie Kirk tributes after mandating moment of silence in recent game
Struggling With ITR Tech Glitches? Here’s How To File Before Sept 15 Without Hassle
Old fiery schoolboy speech goes viral amid recent regime change in Nepal
-
Tech1 week agoNew non-volatile memory platform built with covalent organic frameworks
-
Tech1 week agoThe Top New Gadgets We Saw at IFA Berlin 2025
-
Entertainment1 week agoTravis Kelce says “I still get giddy” as he opens up about engagement to Taylor Swift on New Heights podcast
-
Fashion1 week agoUK trade weathers tariff shocks with agility and new deals: BCC
-
Tech1 week agoElite Blade Gaming Laptops from Razor Are on Sale Today
-
Tech6 days agoPsychological Tricks Can Get AI to Break the Rules
-
Tech6 days agoThe Best Phones You Can’t Officially Buy in the US
-
Tech1 week agoThese are the Password Managers You Should Use Instead of Your Browser