US administration’s freeze on green card filings by Indian IT majors could have indirect implications for India’s real estate market, potentially accelerating the expansion of Global Capability Centres (GCCs) and research and development operations in the country, say real estate experts.
With Indian technology professionals facing greater uncertainty about their path to permanent residency in the US, some companies could consider expanding their operations in India, leveraging the country’s cost advantages and deep pool of skilled talent. This could generate additional demand for commercial office space, especially by GCCs, in established markets such as Bengaluru, Hyderabad, Delhi-NCR, Mumbai, Pune and Chennai, while also supporting housing demand among high-income professionals.
Homes priced above ₹1.5 crore could be more exposed to any increase in demand from GCC employees, although the scale of the impact will depend on the extent of corporate expansion and job creation in India, said experts.
What are GCCs?
GCCs are centres established by multinational companies in countries such as India to manage key business operations. Beyond traditional support services, they undertake specialised functions such as technology development, research and development (R&D), artificial intelligence (AI), data analytics, cybersecurity, finance and product innovation.
Bengaluru, Hyderabad, Delhi-NCR and Pune may benefit
Experts say that if technology firms face challenges hiring or expanding their workforce in the US, they may consider strengthening their operations in India. This could drive demand for office space in established GCC hubs.,
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According to Gulam Zia, international partner and senior executive director – research, advisory, infrastructure and valuation at Knight Frank, the potential benefit to India’s commercial real estate market would be indirect. If companies face challenges hiring or expanding their workforce in the US, they may consider strengthening their operations in India. This could drive demand for office space in established GCC hubs such as Bengaluru and Hyderabad, as well as emerging markets such as Delhi-NCR, Chennai and Pune.
“Restricting onsite talent may force some tech firms to accelerate their Global Capability Centre (GCC) footprints in India,” said Sandeep Reddy, co-founder of Zapkey. He added that GCC roles typically offer higher salaries than many other domestic jobs, creating a pool of high-income homebuyers.
“The potential impact on residential real estate would be most visible in technology-driven employment corridors. Bengaluru, Hyderabad and Pune could see stronger end-user demand, particularly in the ₹1.5 crore to ₹3.5 crore housing segment, as companies expand and skilled professionals take up higher-paying roles in India,” Reddy said.
Aayush Puri, CEO – residential, Middle East, and CEO – ANAROCK Channel Partners, said uncertainty over talent mobility in the US could strengthen the case for GCC expansion in India, further supporting office demand in Bengaluru, Hyderabad, Delhi-NCR, Mumbai and Pune.
According to ANAROCK Research, GCCs accounted for nearly 45% of gross office leasing across the top seven cities in the first half of 2026, taking up around 19.2 million sq ft. Bengaluru and Hyderabad are particularly well placed to benefit from their established talent pools and business ecosystems. However, any shift in operations is likely to be gradual, given the long planning cycles involved in corporate location and hiring decisions.
Vimal Nadar, national director and head of research at Colliers India, also said that uncertainty over talent availability in the US could prompt GCCs to expand their presence in India, strengthening demand in established office markets.
GCC-led office leasing hits 66.4 mn sq ft in Jan-Sep 2026, up 8% YoY
India’s office market is witnessing considerable leasing activity, supported in part by GCC expansion. According to CBRE, office leasing across nine major cities—Mumbai, Delhi-NCR, Bengaluru, Hyderabad, Pune, Chennai, Kolkata, Ahmedabad and Kochi—reached a record 66.4 million sq ft in January–September 2026, an 8% year-on-year increase.
GCCs leased 8.7 million sq ft during the September quarter and a record 28 million sq ft in the first nine months of 2026. Their space take-up rose 16% year-on-year during the January–September period, CBRE said.
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