India’s GCC to surpass 300m sqft office leasing in 3-4 years

India is the most mature market for Global Capability Centres (GCCs), with 44 per cent of GCCs transitioning to take on end-to-end portfolio ownership, drive innovation and peer collaboration with global roles.

Initially set up to save costs and help organisations with their business functions, Global Capability Centres (GCCs) have significantly made their presence felt in India.

Today, the country is home to over 1,950 such centres established by top multinational corporations, to serve the global and regional market with more efficiency, according to JLL survey.

According to the JLL survey, there are 245+ million sq ft Grade A stock occupied by GCCs in the top 7 cities, ~75 per cent combined share of manufacturing, IT/ITeS & BFSI. 71 per cent of all GCC demand since 2018 has been from US-headquartered firms. 40 per cent of overall office leasing activity accounted for by GCCs between 2018-2024.

Global Capability Centres are set to surpass 300 million sqft in the next 3-4 years, driven by new entries and expansions. 100+ GCCs entered India in the last two years alone. 28 million sq ft of leasing by GCCs in 2024 has been reported, highest ever in a year. The 3/4th share of Bengaluru, Hyderabad and Chennai in space leased by Global Capability Centres in last two years. 75 per cent combined share of manufacturing, IT/ITeS & BFSI 71 per cent of all GCC demand since 2018 from US-headquartered firms. India is home to the largest number of GCCs globally (over 1,950). This is significantly more than other popular destinations like the Philippines, Poland or China.

India has developed strong capabilities in digital technologies and their adoption. High impact areas like AI, blockchain, data analytics, cloud computing and cyber security are at the core of GCC operations in India. India’s technology industry expanded its 58-lakh strong workforce by 1.2 lakhs in 2024-25, with Global Capability Centres accounting for over 1 lakh of these roles. The rise of new-age technologies will result in more digital-savvy professionals as the tech sector grows on to become $300 billion industry in FY 2025-26.

These centres help centralise and standardise certain functions of the parent organisation. They provide several services, like finance, HR, IT, and procurement, at one place, thereby improving efficiency and lowering costs.

Focused on research and development, these centres are innovation hubs for new products, technologies, and processes. Normally, R&D centres are oriented towards a particular field where the parent organisation has shown high levels of expertise and specialisation. These centres are meant to help organisations remotely share information. They are responsible for collating and disseminating knowledge within the organisation and across geographies. Focused on creating a hub for ideas, innovation centres foster innovation and creativity with opportunities for collaboration. These centres are where companies can develop new ideas, conduct research, and build prototypes. They offer a range of services to assist customers in any way possible. They are usually responsible for managing customer inquiries, complaints, and feedback.

There are several Indian cities that are considered ideal for a GCC due to their strong infrastructure, skilled workforce, and favourable business environment. For example: Bengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai and Pune.

Based on the type of GCC companies are looking to establish, service requirements may vary. There is a need to choose services that best match the functions and operations of the centre.

Some common services include legal and regulatory compliance, real estate, technology, human resources, financial support, support services and transportation and logistics.

In a world driven by cutting-edge technology, it is important for global capability centres to create a truly tech-savvy office space. The innovation hub needs to keep pace with the digital age and set a standard for the future of work.  The landscape of global capability centres is rapidly evolving. Today, it’s not just about cost efficiency; it’s about building resilient, innovative, and talent-centric hubs.

My parents gifted me a residential property in Mumbai. I hold another unit besides some equity. How to minimise tax liability if I wish to sell the unit? Sunil Prabhu, Sharjah.

Generally, when you sell a residential property, one option is you can reinvest the capital gain amount into another residential unit before one year from the date or sale or within two years.

In case it is invest in a project undergoing construction, the period can be extended to three years. If not wished to reinvest, the capital gain upto Rs 50 lakh can be reinvested in designated bonds. As far as equity is concerned, you can invest the entire sale proceeds into a residential property.

I am based in Gulf and investing in a project in Bengaluru. Is GST applicable to all types of residential projects? Please clarify. Deepak Sinha, Dubai.

The impact of GST on residential property depends on the phase of construction, the location as well as the type of project. For example, GST impact will be observed more in case of new launches as compared to near completion projects. Similarly, projects in suburban areas will be more impacted when compared to city-centre projects.