Gurugram’s ascent as one of India’s largest office markets has created a concentrated ecosystem of institutional-grade assets.
While trophy homes dominate headlines about Gurugram’s real estate landscape, the steady expansion of its office stock to nearly 100 million sq. ft. by the end of 2025 has largely escaped notice.
Rewind to the 1970s, Maruti Suzuki established its manufacturing facility in this peaceful agricultural village. DLF Limited, a real estate behemoth, was the first to recognise the untapped potential of this remote settlement near Delhi (formerly known as Gurgaon). The company acquired large land parcels, setting the stage for Gurugram’s transformation into a magnet for corporate giants. Early office construction in Udyog Vihar, National Highway 8 (NH-8), and Sohna Road triggered a mini construction boom as developers like Unitech, Vatika Group, and Vipul Limited joined the bandwagon. General Electric was one of the first major American companies to arrive in Gurugram, with several domestic and global enterprises following thereafter. Renowned automobiles, airline, and FMCG companies have since established operations here. DLF Corporate Park, DLF Plaza Tower and DLF Gateway Tower emerged as prime assets in the 1990s, becoming early emblems that defined Gurugram’s skyline. Simultaneously, occupiers providing outsourcing solutions in software, IT services and call centres began scouting for offices, just as the dotcom bubble was about to burst.
Figure 1: Gurugram’s Grade A office stock nears 100 million sq. ft. mark by the end of 2025
Source: JLL Research
Note: Figure indicates Grade A stock total at the end of each calendar year
2025(E) refers to the expected office stock total by the end of 2025
From 2000 to 2010, DLF Cybercity’s newly built office assets transformed Gurugram into a magnet for MNC expansions, earning it the moniker “The Millennium City.” The enviable demand surge for these large-format Grade A offices underscored Gurugram’s strategic rise as a core hub for IT & ITES, consulting and co-working occupiers. Gurugram sits at the Delhi-Haryana border and was easily accessible via Mehrauli-Gurugram Road (MG Road) even back in the day. Today, NH-8 holds 48% of total operational Grade A stock, having benefited from large scale commercial development near the Delhi-Gurugram highway early on. As other micro-markets developed, including, Golf Course Road (GCR), Golf Course Extension Road (GCER) and Sohna Road, future development of office stock started moving towards Gurugram’s periphery.
Figure 2: NH-8 dominates Gurugram’s total Grade A stock
Source: JLL Research
From the mid-2000s, infrastructure enhancements shaped GCR’s skyline. With rampant construction and rising rentals in other parts of Gurugram, office space development spread further to GCER due to ample land availability. Between 2010 and 2020, Gurugram added 51 million sq. ft. of new office supply across its various micro-markets. GCER now serves as Gurugram’s toehold with the second-highest office stock availability. Competitive rentals, premium developments, and enhanced accessibility have led numerous corporates to establish their presence here. Since Covid-19, insurance companies, co-working operators, telecom firms, and engineering giants have leased new offices on GCER.
Over the past 25 years, Gurugram’s gross office leasing has surpassed 120 million sq. ft. with extensive consolidations and expansions within the city driving volumes even higher. In H1 2025, Gurugram accounted for a 12% share in India’s overall office leasing activity, supported by a diverse tenant profile comprising IT/ITES, co-working, BFSI (banking, financial services, and insurance), telecom and healthcare companies. In the past three decades, Gurugram has established a thriving occupier-driven ecosystem supported by government policies and a large base of skilled professionals. While physical infrastructure needs upgrading, companies will continue to invest heavily in Gurugram as it attracts a diverse talent pool, paving the way for further market growth.