An analysis done by real estate consulting firm Anarock shows the top southern cities — Bengaluru, Hyderabad, and Chennai — dominating the Global Capability Centre (GCC) office space leasing in first quarter of 2025 with a 64% overall share.
According to Anarock, Chennai currently hosts over 240 GCCs, employing over 1,40,000 professionals and contributing 10-12% of India’s total GCC talent pool. The city is projected to see even more GCCs established, with estimates suggesting around 440-460 by 2030.
On top cities level, GCC leasing share of Chennai was 8% in 2023, while it increased to 12% in 2024 and further to 15% in Q1 2025. In 2023, the total gross leasing across top cities was 24.5 million sq. ft. and Chennai’s share was 2 million sq. ft. and during 2024 gross leasing across top cities stood at 28.38 million sq. ft. and Chennai’s share was at 3.28 million sq. ft. In the first quarter of 2025, total gross leasing across top cities was at 8.35 million sq. ft. while Chennai’s GCC leasing share was at 1.22 million sq. ft. 
Manufacturing and Engineering; Banking, Financial Services and Insurance (BFSI); Research and Development (R&D) and IT/ITES sectors account more than 75% of leasing share in overall GCCs leasing. Citigroup, Barclays, Standard Chartered, Amazon, AstraZeneca, Roche, Ford, Caterpillar, DHL, UPS, Comcast, and Verizon have GCCs in Chennai.
Peush Jain, MD – Commercial Leasing and Advisory, ANAROCK Group, said, “GCCs in Bengaluru, Chennai and Hyderabad collectively leased approximately 5.34 Mn sq. ft. of gross office space in Q1 2025, followed by Delhi-NCR which saw 1.95 Mn sq. ft. gross office space leased to GCCs. Of the gross office space leasing of 19.47 Mn sq. ft. recorded in the top 7 cities in Q1, GCCs accounted for about 8.35 Mn sq. ft. — a 43% overall share. In Q1 2024, they had leased about 4.87 Mn sq. ft. In short, there has been a 72% annual jump in their office space absorption.”
