New Delhi, Aug. 30 -- The continued expansion of Global Capability Centres (GCCs), coupled with strong domestic demand, is driving a steady decline in office market vacancy rates, signalling renewed momentum in India's commercial real estate sector, according to the latest report by CREDAI-CRE Matrix.

The 'Office Market Report for Q2 CY'25' highlighted that vacancy rates declined by 210 basis points (BPS) between calendar Year (CY) 2024 and CY'25, underpinned by robust demand of 34.5 million square feet in H1 CY'25 and consistent absorption across major business hubs.

The report added that the ongoing shift towards flexible work models and strong domestic demand are also driving robust absorption rates across Bengaluru, Mumbai Metropoli...