Office Space Leasing Rises 74% in Jan-Mar 2025: Jaipur Shines as a Top GCC Destination

India’s commercial real estate sector is witnessing an unprecedented boom, with gross office leasing surging 74% year-on-year to a record 282 lakh square feet in Q1 2025, according to Knight Frank’s latest report. Fueled by global firms expanding their Global Capability Centres (GCCs), cities like Bengaluru, Hyderabad, and Mumbai dominated transactions. However, Jaipur is fast emerging as a dark horse, combining affordability, talent, and premium infrastructure to attract IT giants and startups alike.

National Trends: GCCs Drive Office Space Leasing Frenzy

Knight Frank’s India Real Estate: Office and Residential Report highlights how India’s economic resilience and skilled workforce are making it a magnet for GCCs. Shishir Baijal, Chairman of Knight Frank India, noted, “QI 2025 was exceptional, with GCC demand breaching new highs. India’s perception as a long-term investment hub continues to strengthen.”

Key City-Wise Leasing Growth (Q1 2025):

• Bengaluru: 127 lakh sq ft (3x growth YoY)
• Hyderabad: 40 lakh sq ft (31% rise)
• Pune: 37 lakh sq ft (91% surge)
• Mumbai: 35 lakh sq ft (24% increase)
• Chennai: 18 lakh sq ft (56% growth)

Pre-commitments accounted for 58% of Bengaluru’s transactions, signaling strong future demand. But beyond these metros, Jaipur is carving its niche as a strategic GCC and IT hub.

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Why Jaipur is a Top Choice for Office Leasing in 2025

While Jaipur isn’t traditionally among the top eight cities, its proximity to Delhi-NCR, government incentives, and cost advantages are driving rapid corporate migration. Here’s why businesses are opting for Jaipur:

1. Cost-Effective Operations

Jaipur offers 30-40% lower operational costs compared to metro cities like Mumbai or Bengaluru. Leasing rates in prime areas are highly competitive, with premium office spaces providing customizable solutions at ₹50–65/sq ft/month.

2. Thriving Talent Pool

Home to 25+ engineering colleges and institutes like MNIT, Amity University, JECRC University, Jaipur ensures access to skilled tech talent. GCCs in AI, analytics, and fintech benefit from this pipeline.

3. Strategic Connectivity

Jaipur International Airport
4-hour drive to Delhi-NCR via NH48
Upcoming Delhi-Mumbai Industrial Corridor (DMIC) boosts logistics

4. Government Support

Rajasthan’s policies for IT/ITeS sectors include:
Tax holidays for 5 years
Subsidized land leases in SEZs
Fast-tracked approvals for GCC projects

5. Premium Infrastructure

Modern workspaces are evolving with cutting-edge infrastructure that caters to the needs of today’s businesses:

• Spacious, tech-ready office spaces with large, open layouts, ideal for flexibility and collaboration
• Eco-friendly design, featuring green building initiatives and 24/7 power backup for uninterrupted operations
• Strategic location with easy access to key amenities such as temples, hotels, and residential areas, ensuring convenience for both businesses and employees

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Jaipur’s Office Leasing Growth: A Silent Revolution

Though not yet in the top eight, Jaipur’s office leasing activity doubled in Q1 2025, driven by demand from GCCs and startups. “Experts highlight that Jaipur’s blend of culture and connectivity makes it an attractive location for firms seeking scalable, future-ready spaces. Premium office projects in the city are seeing significant pre-leasing interest, particularly from IT and GCC clients.”

Comparative Advantage Over Traditional Hubs

Factor	Jaipur	Bengaluru
Avg. Rent (₹/sq ft)	50–65	80–100
Talent Retention	85%	70%
Proximity to Delhi	250 km	2,150 km

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Secure Your Office Space in Jaipur’s Rising Market

With limited premium inventory and rising demand, early movers stand to gain the most. Premium office spaces in Jaipur offer:
✅ Prime locations in key business hubs of Jaipur
✅ Customizable layouts for GCCs, IT firms, and startups
✅ Ready for occupancy with attractive pre-leasing discounts

📞 Act Now! Call +91 89594 63333 to book a site visit or discuss terms.

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Conclusion

As metros face saturation, Jaipur’s affordability, skilled talent pool, and growing infrastructure make it an emerging hub for office leasing. The city offers cost-effective solutions, modern office spaces, and a favorable business environment, attracting companies looking for expansion opportunities outside traditional metro cities. With ongoing development and a focus on improving connectivity, Jaipur is poised to become one of India’s top office markets by 2026, offering a promising future for businesses and investors alike.

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FAQs: Office Leasing in Jaipur

Q: Is Jaipur suitable for large GCCs?
A: Absolutely! Jaipur is ideal for large GCCs due to its lower operational costs (30-40% less than metros), a skilled workforce, excellent connectivity, modern infrastructure, and a high quality of life. These factors make it a great, cost-effective choice for businesses looking to expand.

Q: What lease terms are typical?
A: Flexible options from 3–10 years, with rent escalation clauses.

Q: Are there tax benefits?
A: Yes, Rajasthan offers subsidies for IT/ITeS firms in SEZs.