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flag India’s SEZs are rapidly becoming office spaces due to relaxed rules, boosting office demand led by global tech centers.

flag India's office space demand is rising as Special Economic Zones (SEZs) are rapidly converted into regular office spaces, driven by a 2023 government policy change easing SEZ restrictions. flag Global Capability Centres lead leasing activity, accounting for 38% of demand in Q2 FY26, with strong net leasing persisting despite high occupancy rates of 90% across REITs. flag The shift is supported by expanding REIT acquisition and development plans, while a growing retail sector strengthens the broader commercial real estate outlook.

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