The report predicts that India’s operational flex stock will reach 106 mn sq ft, doubling again over the next five years. The country’s operational flex stock has risen to 53 mn sq ft across the top seven cities, occupying around ~839,250 seats. This equates to an overall office stock penetration level of around 4.7%, making it among the fastest-growing flex markets globally.
The growth in the flex sector has been driven by pure-play managed operators offering customized space solutions, growing at a CAGR of 70% since 2018. The report, conducted by JLL and Smartworks, provides insights into the journey and performance of the flex sector in India's commercial office market and offers actionable insights for optimizing office portfolios.