Is Gurugram seeing an upsurge in flexible workplaces?

[Ashish jain]

Yes, Gurugram is seeing considerable growth in the flexible workspace industry, illustrated by Smartworks' latest expansion. In January 2025, Smartworks, a major managed office space provider, leased 470,000 square feet in DLF City-V, its fourth managed campus in the city.

This growth follows a wider trend in which businesses are turning to flexible and fully serviced office space. The strategic position of Gurugram and its strong infrastructure make it a prime target for such investments. Smartworks' founder Neetish Sarda pointed out that the expansion in Gurugram is indicative of the rising need for serviced and fully managed campuses.

As of August 2024, Smartworks had 45 centers in 13 cities with a total super built-up area of 9.12 million square feet. The move by the company to take on more space on lease in Gurugram reflects the city's central role in its expansion plans.

Financially, the lease deal comes with a rent of ₹94 crore annually at a rate of ₹165 per square foot. The six-year lease has a six-month advance security of ₹47.3 crore and a 9% rent revision after three years. The deal also offers Smartworks 794 parking lots to serve its customers.

This acquisition is one of a string of high-profile commercial real estate deals in Gurugram, reflecting strong demand for flexible office space. Smartworks' growth not only solidifies its market position but also helps to establish Gurugram as a center for innovative workspace solutions.