By Adil ZaidiThe growth of India’s commercial real estate market has primarily been driven by cost advantage, large talent pools and the expansion of technology and business services firms. However, over the last few years, the growth of GCCs has steadily caused a change. GCCs have increasingly been taking a bigger and more strategic role in global organizations. They are now hubs for enterprise innovation, digital transformation, analytics, engineering, cybersecurity and business ownership. As their role expands, they are reshaping the Indian office market.India’s office market – now valued at approximately Rs 16 trillion (~US$187 billion) with total stock crossing one billion sq ft. GCCs accounted for 43% of all office leasing across all major cities in the first half of 2026, setting a new benchmark. GCCs have brought about a major change in the nature of requirements from commercial leasing. Office spaces are increasingly becoming structural demand engines for Grade A, future-ready assets. They have become a key force shaping the next phase of India’s commercial real estate growth.In this article, we outline how GCCs are impacting changes to how commercial real estate is planned, built, leased and managed.Higher value work and Tier-II cities are changing demand patternsThe first impact is on the quality of office demand. As GCCs take on higher-value work, their real estate needs go beyond seat capacity and cost efficiency. Companies are seeking campuses and office spaces that support collaboration, innovation, data security, employee experience and scalable technology infrastructure. This is increasing demand for Grade A assets with better amenities, stronger sustainability credentials, resilient physical infrastructure and proximity to talent pools.Many surveys have established a positive correlation between office space design and driving innovation and strategic thinking. Modern office design moves away from traditional standardized arrangements into a more innovation and work-centric design, such as flexible workspaces, activity-based areas, co-innovation zones, specific areas for data security, and talent-centric amenities for wellness, food and beverages, among others. For developers, it implies that office space development must take into consideration these new requirements rather than viewing office space as a physical product.The second impact is geographic. Although GCC growth is reinforcing demand in established markets such as Bengaluru, Hyderabad, Pune, Chennai, Mumbai and the National Capital Region, emerging business districts in Tier-II cities are also getting GCCs. GCCs are expanding into cities such as Coimbatore, Kochi, Bhubaneshwar, Indore, Ahmedabad and Jaipur, beckoning a change in their commercial real-estate landscape. Budget-linked infrastructure, city economic regions, improved connectivity and policy support for GCCs are expected to strengthen newer commercial corridors. As companies evaluate cost, talent availability, business continuity and operating resilience, India’s office map could become more distributed, with select non-metro markets gaining a larger role in future expansion.The influence of technology and sustainability on demandTechnology adoption is influencing GCCs to a great extent. As GCCs become more digital and data-led, they are inclined to real estate ecosystems that offer execution certainty, transparency and operational intelligence. For commercial real estate, technology extends beyond smart buildings. It includes the full value chain — from land diligence and design to construction monitoring, leasing, operations and tenant experience.Sustainability is another key area influencing demand. Large global occupiers are increasingly embedding sustainability into real estate decisions, creating a competitive advantage for buildings that can demonstrate energy efficiency, green certifications, climate resilience and transparent ESG data.Global occupiers’ ESG disclosure obligations under EU regulations such as the Corporate Sustainability Reporting Directive (CSRD) and the Sustainable Finance Disclosure Regulation (SFDR), alongside voluntary frameworks such as SBTi-validated emissions targets and GRESB benchmarking, are increasingly reflected in occupiers’ leasing criteria and landlords’ asset strategies. The market evidence is visible: in H1 2026, over 80% of GCC leasing in India was concentrated in green-certified buildings.A study by EY observes that sustainable real estate adoption depends on developer readiness, certification integration, climate-aligned capital and demand signals. GCC-led occupier demand can accelerate this transition because global enterprises often bring more formal sustainability expectations into leasing and workplace decisions.A new paradigm for Indian workspacesFor India, the commercial real estate opportunity led by GCCs is broader. GCCs can deepen employment, strengthen services ecosystems, support transport-led urban growth and attract complementary investments in housing, retail, hospitality and social infrastructure. However, commercial real estate growth must be supported by mobility, utilities, housing affordability, digital infrastructure and liveability.GCCs are therefore reshaping India’s commercial real estate market in a fundamental way. Beyond absorbing office space demand, they are redefining what high-quality office space must deliver.The next cycle of growth will thus be shaped by assets and cities that can combine location, talent, technology, sustainability and flexibility into a more integrated proposition.(Adil Zaidi is Partner and Leader, Economic Development Advisory, EY India. Soumya Ranjan, Director – Strategy and Transactions – Real Estate, EY India also contributed to the article.)