Top 20 New Commercial Projects in India (2026): Offices, Malls and Mixed-Use Projects Ranked
"This table lists 20 of the most significant new commercial projects in India in 2026: offices, malls, mixed-use developments and one planned business district. Filter by city or type, search by developer or area, or click a column heading to sort."
Short answer: The biggest new commercial project in India in 2026 is Signature Global and RMZ's 3.94 million sq ft mixed-use development on the Southern Peripheral Road in Gurugram, with an estimated capital value of ₹14,000 to ₹16,000 crore. It is followed by Max One in Noida (about ₹2,000 crore GDV), M3M Capital Financial Center in Gurugram (about ₹1,500 crore expected revenue) and Embassy Developments' 6 million sq ft office campus in Bengaluru. The Mumbai region has the most projects on the list, with six.
Key takeaways
- The 13 projects that disclosed a value add up to about ₹26,507 crore, and the projects that disclosed a floor area add up to about 25 million sq ft.
- Offices lead, with 10 of the 20 projects; 7 are mixed-use, 2 are retail and 1 is a planned business district.
- Six projects were launched for sale to buyers. The rest are built to lease or still at the planning stage, and you can reach some of them only through REITs.
- Demand is at a record: about 66.4 million sq ft of office space was leased in January to September 2026 (CBRE), with global capability centres taking about 42%.
- Supply is also at a record, and vacancy rose to 14.37% in July to September, so location and tenant quality matter more than before.
The top 20 new commercial projects in India in 2026
This table lists 20 of the most significant new commercial projects in India in 2026: offices, malls, mixed-use developments and one planned business district. Filter by city or type, search by developer or area, or click a column heading to sort.
| 1 | Signature Global and RMZ commercial project (Gurugram Commercity) | Signature Global and RMZ | Gurugram | Mixed-use | Planned | 3.94 msf | ₹16,000 cr Capital value (estimate) |
|---|---|---|---|---|---|---|---|
| 2 | Max One | Max Estates | Noida | Mixed-use | Launched | 2.5 msf | ₹2,000 cr GDV |
| 3 | M3M Capital Financial Center | M3M India | Gurugram | Office | Launched | – | ₹1,500 cr Expected revenue |
| 4 | Embassy Developments office campus (35 acres) | Embassy Developments | Bengaluru | Office | Under construction | 6 msf | ₹1,500 cr Investment |
| 5 | Vamsiram Builders mixed-use tower, Raidurgam | Vamsiram Builders | Hyderabad | Mixed-use | Planned | 2 msf | ₹1,038 cr Land cost |
| 6 | Labdhi BKC Edge | Labdhi Lifestyle | Mumbai | Office | Launched | 0.225 msf | ₹1,000 cr GDV |
| 7 | Knowledge Realty Trust office block, Sattva Global City | Knowledge Realty Trust | Bengaluru | Office | Under construction | 1.4 msf | ₹700 cr Investment |
| 8 | RMZ Infinity | RMZ | Chennai | Office | Under construction | 3.54 msf | ₹670 cr Construction contract |
| 9 | DLF Promenade Goa | DLF | Goa | Retail | Nearing completion | 0.7 msf | ₹500 cr Investment |
| 10 | Exotica One32 | Exotica Housing | Noida | Office | Launched | – | ₹500 cr Investment |
| 11 | L&T Realty office tower, Elphinstone Road | L&T Realty | Mumbai | Office | Planned | 0.39 msf | ₹448.6 cr Land cost |
| 12 | Mindspace Madhapur hotel and commercial building | Mindspace Business Parks REIT | Hyderabad | Mixed-use | Planned | 0.53 msf | ₹350 cr Investment |
| 13 | Meghna One | Meghna Infracon | Thane | Office | Launched | 0.28 msf | ₹300 cr GDV |
| 14 | Phoenix mixed-use development, Thane | The Phoenix Mills | Thane | Mixed-use | Construction starting | 2.5 msf | – |
| 15 | Sri Lotus GIFT City mixed-use project | Sri Lotus Developers | GIFT City | Mixed-use | Planned | 1 msf | – |
| 16 | Sumitomo Realty office tower, BKC G Block | Goisu Realty | Mumbai | Office | Nearing completion | – | – |
| 17 | Prestige integrated business hub, Bengaluru Airport City | Prestige Group with Bengaluru Airport City Ltd | Bengaluru | Mixed-use | Planned | – | – |
| 18 | CIDCO business district, Navi Mumbai | CIDCO | Navi Mumbai | Business district | Planned | – | – |
| 19 | World Trade Center Thiruvananthapuram | Brigade Enterprises | Thiruvananthapuram | Office | Under construction | – | – |
| 20 | BPTP The Boulevard at Green Oaks | BPTP | Gurugram | Retail | Launched | – | – |
Value is the figure the developer or buyer disclosed: GDV, expected revenue, capital value, investment, land cost or construction contract. A dash means it has not been disclosed. Area is the total floor area in million sq ft (msf) where published.
Ranking by disclosed value
Thirteen projects disclosed a value. The Signature Global and RMZ project is in a different league, at an estimated ₹14,000 to ₹16,000 crore on completion, about eight times the next project. The rest range from about ₹2,000 crore for Max One down to about ₹300 crore for Meghna One. Because some values are sales potential and others are investment or land cost, compare them as a guide to scale only.
The 20 projects in detail
Each profile lists what has been published about the project, why it made the list and one thing to check. “Not disclosed” means the figure has not been published.
1. Signature Global and RMZ commercial project (Gurugram Commercity), Gurugram
| Developer | Signature Global and RMZ (50:50 joint venture) |
|---|---|
| Location | Southern Peripheral Road (SPR), Gurugram, Haryana |
| Type | Mixed-use |
| Status | Planned |
| Key date | 30 March 2026 (joint venture signed) |
| Size | 3.94 million sq ft of floor space (FSI) |
| What it includes | Premium offices, luxury hotels and high-end retail |
| Disclosed value | ₹14,000 to ₹16,000 crore estimated on completion; RMZ paid ₹1,293 crore for a 50% stake |
| RERA | Not yet registered |
Why it made the list: The largest commercial project announced in India in 2026 by value. RMZ, one of India's biggest office developers, paid ₹1,293 crore for half of the project company before construction began.
Check before you invest: This is a planned development. No launch, RERA registration or completion date has been announced, so treat the capital value as an estimate.
Sources: Signature Global filing, NSE, 30 March 2026, Realty N More
2. Max One, Noida
| Developer | Max Estates |
|---|---|
| Location | Sector 16B, Noida (around Max Towers), Uttar Pradesh |
| Type | Mixed-use |
| Status | Launched |
| Key date | 7 March 2026 |
| Size | About 2.5 million sq ft on about 10 acres |
| What it includes | Serviced residences, premium offices, retail, a club and cultural spaces |
| Disclosed value | Sales potential of about ₹2,000 crore, plus about ₹120 crore a year of rental potential |
| RERA | UPRERAPRJ9759 |
Why it made the list: A stalled project (formerly Delhi One) revived by Max Estates after nine years, on the edge of South Delhi. It mixes saleable homes and offices with spaces Max Estates will keep and lease.
Check before you invest: Because it was stalled for years, check construction progress and the completion date for each phase on UP RERA before you buy.
Sources: Max Estates release, NSE, 7 March 2026, The Realty Today
3. M3M Capital Financial Center, Gurugram
| Developer | M3M India |
|---|---|
| Location | Sector 113, Gurugram (Smart City Delhi Airport corridor), Haryana |
| Type | Office |
| Status | Launched |
| Key date | July 2026 |
| Size | 22-storey tower on about 1.42 acres; 165 units |
| What it includes | 152 offices, 7 shops and 6 multiplex units; office floors of about 22,500 sq ft |
| Disclosed value | Expected topline of about ₹1,500 crore on an investment of about ₹600 crore |
| RERA | Not given in launch coverage |
Why it made the list: A single office tower near the Dwarka Expressway and Delhi airport. M3M will put its own head office on three floors, and a global aviation company is reported to be taking about 75,000 sq ft.
Check before you invest: Prices, the completion date and the RERA number were not published in the launch coverage. Get them in writing before you pay.
Sources: Constro Facilitator, 31 July 2026, The Realty Today
4. Embassy Developments office campus (35 acres), Bengaluru
| Developer | Embassy Developments (formerly Indiabulls Real Estate) |
|---|---|
| Location | Bengaluru (site not named), Karnataka |
| Type | Office |
| Status | Under construction |
| Key date | June 2026 (phase 1 construction started) |
| Size | 6 million sq ft in two phases; phase 1 is 3 million sq ft |
| What it includes | Grade A offices to lease to companies, especially global capability centres (GCCs) |
| Disclosed value | About ₹1,500 crore for phase 1, excluding land |
| RERA | Not applicable (built to lease) |
Why it made the list: The largest new office campus by area on this list. Construction of the first 3 million sq ft started in 2026, aimed at foreign companies setting up GCCs.
Check before you invest: Built to lease, not to sell. It matters to tenants and to investors in Embassy Developments, not to buyers of office units.
Sources: Outlook Business, 28 June 2026, PropNewsTime
5. Vamsiram Builders mixed-use tower, Raidurgam, Hyderabad
| Developer | Vamsiram Builders |
|---|---|
| Location | Plot P4, Raidurgam (next to ITC Kohinoor), HITEC City area, Telangana |
| Type | Mixed-use |
| Status | Planned |
| Key date | 1 June 2026 (land auction won) |
| Size | About 20 lakh sq ft, 30 storeys, on 5.09 acres |
| What it includes | IT offices, retail and a hotel |
| Disclosed value | ₹1,038 crore for the land, or about ₹204 crore an acre, 46.8% above the reserve price |
| RERA | Not yet registered |
Why it made the list: Bought at about ₹204 crore an acre in a state auction, one of the highest land prices paid in Hyderabad's IT corridor. The developer plans a 145-metre tower.
Check before you invest: Construction is targeted to finish within four years. Nothing is on sale yet.
Sources: ETV Bharat, 2 June 2026, UNI India
6. Labdhi BKC Edge, Mumbai
| Developer | Labdhi Lifestyle |
|---|---|
| Location | Bandra Kurla Complex (BKC), Mumbai, Maharashtra |
| Type | Office |
| Status | Launched |
| Key date | January 2026 |
| Size | About 2.25 lakh sq ft of carpet area on about 1.25 acres |
| What it includes | 300+ business suites |
| Disclosed value | Gross development value of over ₹1,000 crore |
| RERA | MahaRERA; check the number on the portal |
Why it made the list: A rare office launch for sale in BKC, Mumbai's main business district, where JLL says Grade A vacancy fell to 5.8% in 2025.
Check before you invest: Completion is expected in 2029. Check the MahaRERA completion date and what share of the suites is already sold.
Sources: Realty N More, 22 January 2026, EPC World: BKC office pipeline
7. Knowledge Realty Trust office block, Sattva Global City, Bengaluru
| Developer | Knowledge Realty Trust (sponsored by Sattva and Blackstone) |
|---|---|
| Location | Sattva Global City, Bengaluru, Karnataka |
| Type | Office |
| Status | Under construction |
| Key date | May 2026 (construction started) |
| Size | 1.4 million sq ft |
| What it includes | Grade A offices to lease |
| Disclosed value | About ₹700 crore over three years |
| RERA | Not applicable (built to lease) |
Why it made the list: A new block from one of India's newest listed office REITs, due in about 36 months.
Check before you invest: REIT-owned, so you can only invest through Knowledge Realty Trust units, not by buying office space.
Sources: Outlook Business, 24 May 2026, The Realty Today
8. RMZ Infinity, Chennai
| Developer | RMZ |
|---|---|
| Location | Porur, Chennai, Tamil Nadu |
| Type | Office |
| Status | Under construction |
| Key date | August 2026 (construction contract awarded) |
| Size | 3.54 million sq ft built-up (2.94 million sq ft leasable), four towers on 16.4 acres |
| What it includes | Offices to lease |
| Disclosed value | ₹670 crore core-and-shell contract awarded to Tata Projects |
| RERA | Not applicable (built to lease) |
Why it made the list: The biggest new office campus in Chennai this year, on the Porur IT corridor, where Chennai Metro Phase 2 is being built.
Check before you invest: No completion date has been published.
Sources: Construction World, 13 August 2026, Torbit Realty
9. DLF Promenade Goa, Goa
| Developer | DLF |
|---|---|
| Location | EDC Patto Plaza, Panaji, Goa |
| Type | Retail |
| Status | Nearing completion |
| Key date | September 2026 (opening confirmed for early 2027) |
| Size | About 7 lakh sq ft, four storeys |
| What it includes | Shopping mall with about 220 brands, including Shoppers Stop and PVR |
| Disclosed value | About ₹500 crore |
| RERA | Goa RERA; occupation certificate received |
Why it made the list: DLF's first mall in Goa and the largest in the state. About 75% of the space was leased by September 2026.
Check before you invest: The opening has moved from early 2026 to February or March 2027.
Sources: Aurum PropTech, 19 September 2026, Aurum PropTech, 24 August 2026
10. Exotica One32, Noida
| Developer | Exotica Housing |
|---|---|
| Location | Sector 132, Noida–Greater Noida Expressway, Uttar Pradesh |
| Type | Office |
| Status | Launched |
| Key date | February 2026 |
| Size | Two 27-storey towers on 5 acres |
| What it includes | IT and ITES offices of 1,000 to 3,000 sq ft; 1,400+ car parking spaces |
| Disclosed value | About ₹500 crore |
| RERA | UP RERA; check the number on the portal |
Why it made the list: Small office units on the Noida Expressway, a size that suits investors and small firms.
Check before you invest: Phase 1 possession is listed for January 2030 on RERA, so expect a four-year wait.
Sources: NBM&CW, 13 February 2026, The Realty Today
11. L&T Realty office tower, Elphinstone Road, Mumbai
| Developer | L&T Realty |
|---|---|
| Location | Elphinstone Road, Lower Parel, Mumbai, Maharashtra |
| Type | Office |
| Status | Planned |
| Key date | January 2026 (land bought) |
| Size | 28 office floors of about 14,000 sq ft carpet each, on 1.34 acres |
| What it includes | Grade A offices to lease |
| Disclosed value | ₹448.6 crore, including about 55,000 sq ft of space to be given to the seller |
| RERA | Not applicable (built to lease) |
Why it made the list: A new Grade A tower in central Mumbai's established office district.
Check before you invest: Construction is expected to take about 36 months.
Sources: Rentu, 20 January 2026, The Realty Today
12. Mindspace Madhapur hotel and commercial building, Hyderabad
| Developer | Mindspace Business Parks REIT |
|---|---|
| Location | Mindspace Madhapur, HITEC City, Telangana |
| Type | Mixed-use |
| Status | Planned |
| Key date | 25 February 2026 (pre-leased) |
| Size | About 5.3 lakh sq ft |
| What it includes | A luxury hotel of about 330 keys with commercial space, pre-leased to Chalet Hotels |
| Disclosed value | About ₹350 crore total outlay |
| RERA | Not applicable (built to lease) |
Why it made the list: Pre-leased before construction, part of a trend of office parks adding hotels for business visitors.
Check before you invest: Completion is expected by January to March 2028.
Sources: Mindspace REIT release, NSE, 25 February 2026
13. Meghna One, Thane
| Developer | Meghna Infracon |
|---|---|
| Location | Wagle Estate, Thane, Maharashtra |
| Type | Office |
| Status | Launched |
| Key date | 15 July 2026 |
| Size | About 2.8 lakh sq ft, 17 storeys |
| What it includes | Offices from 569 sq ft to full floors of 10,500 sq ft |
| Disclosed value | About ₹300 crore |
| RERA | MahaRERA; check the number on the portal |
Why it made the list: Small office units about 1.3 km from Thane railway station.
Check before you invest: The RERA number and completion date were not in the launch coverage.
Sources: ScanX, 20 July 2026, The Realty Today
14. Phoenix mixed-use development, Thane, Thane
| Developer | The Phoenix Mills |
|---|---|
| Location | Thane, Maharashtra |
| Type | Mixed-use |
| Status | Construction starting |
| Key date | July 2026 (Q1 FY27 update) |
| Size | 1.3 to 1.5 million sq ft of retail and 0.5 to 1 million sq ft of offices |
| What it includes | Mall and offices |
| Disclosed value | Not disclosed |
| RERA | Not applicable (built to lease) |
Why it made the list: Phoenix's next big mall in the Mumbai region. It was awaiting environmental clearance in mid-2026, with construction due to start within months.
Check before you invest: Completion is targeted for 2030.
Sources: ICICI Direct: Phoenix Mills Q1 FY27
15. Sri Lotus GIFT City mixed-use project, GIFT City
| Developer | Sri Lotus Developers |
|---|---|
| Location | GIFT City area, Gandhinagar, Gujarat |
| Type | Mixed-use |
| Status | Planned |
| Key date | 7 January 2026 |
| Size | Over 1 million sq ft built-up |
| What it includes | Retail, Grade A offices and luxury homes |
| Disclosed value | Not disclosed |
| RERA | Not yet registered |
Why it made the list: A Mumbai luxury developer's first project in GIFT City, developed with actor Abhishek Bachchan on a profit-sharing basis.
Check before you invest: No value or timeline has been disclosed.
Sources: Sri Lotus release, NSE, 7 January 2026, NBM&CW
16. Sumitomo Realty office tower, BKC G Block, Mumbai
| Developer | Goisu Realty (Sumitomo Realty & Development) |
|---|---|
| Location | Plot 65, G Block, BKC, Mumbai, Maharashtra |
| Type | Office |
| Status | Nearing completion |
| Key date | Handover due 1 October 2026 |
| Size | 12 office floors above six basements |
| What it includes | Grade A offices to lease |
| Disclosed value | Not disclosed |
| RERA | Not applicable (built to lease) |
Why it made the list: JP Morgan leased about 1.16 lakh sq ft on two floors at about ₹6 crore a month, with handover set for 1 October 2026, one of the highest rents in Mumbai.
Check before you invest: A leased building, not for sale.
Sources: Aurum PropTech, EPC World: BKC office pipeline
17. Prestige integrated business hub, Bengaluru Airport City, Bengaluru
| Developer | Prestige Group with Bengaluru Airport City Ltd |
|---|---|
| Location | Bengaluru Airport City, Devanahalli, Karnataka |
| Type | Mixed-use |
| Status | Planned |
| Key date | June 2026 |
| Size | Not disclosed |
| What it includes | Convention and exhibition centre, offices, dining, and St. Regis and Marriott Marquis hotels |
| Disclosed value | Not disclosed |
| RERA | Not yet registered |
Why it made the list: A convention-led business district inside the airport precinct, one of the few in India.
Check before you invest: Size, cost and timeline have not been disclosed.
Sources: Filing Reader, 11 June 2026
18. CIDCO business district, Navi Mumbai, Navi Mumbai
| Developer | CIDCO (Maharashtra planning agency) |
|---|---|
| Location | Navi Mumbai, Maharashtra |
| Type | Business district |
| Status | Planned |
| Key date | March 2026 (tender floated) |
| Size | About 120 acres |
| What it includes | Offices, retail, services and supporting infrastructure |
| Disclosed value | Not disclosed |
| RERA | Not applicable yet |
Why it made the list: A planned new business district for Navi Mumbai, now that its new international airport is open.
Check before you invest: Very early stage: the site, developer and timeline are still to be decided.
Sources: Rentu, 10 March 2026
19. World Trade Center Thiruvananthapuram, Thiruvananthapuram
| Developer | Brigade Enterprises |
|---|---|
| Location | Technopark Phase I, Kazhakkottam, Kerala |
| Type | Office |
| Status | Under construction |
| Key date | 11 February 2026 (foundation stone laid) |
| Size | 20 floors plus ground and four basements |
| What it includes | Offices |
| Disclosed value | Not disclosed |
| RERA | Not given |
Why it made the list: Brigade's second World Trade Center in Kerala. On the same day it opened Brigade Square, a 1.85 lakh sq ft IT building at Technopark.
Check before you invest: Size and cost have not been disclosed.
Sources: Brigade release, NSE, 11 February 2026, WTCA
20. BPTP The Boulevard at Green Oaks, Gurugram
| Developer | BPTP |
|---|---|
| Location | Sector 70A, Gurugram, Haryana |
| Type | Retail |
| Status | Launched |
| Key date | 15 October 2026 |
| Size | 52 shops of 612 to 1,217 sq ft |
| What it includes | High-street retail: cafes, grocery, pharmacy and services |
| Disclosed value | Not disclosed |
| RERA | Registered with Haryana RERA in June 2026 (two phases) |
Why it made the list: A neighbourhood high street next to BPTP's housing projects, close to the Southern Peripheral Road and Golf Course Extension Road.
Check before you invest: Prices were not disclosed, and the launch details come from a sponsored press release.
Sources: Business Standard (press release), 16 October 2026
Which cities have the most new commercial projects?
The Mumbai region leads with six projects, from BKC and Lower Parel to Thane and Navi Mumbai. Gurugram and Bengaluru have three each. Hyderabad has only two projects on the list but leads the country in office leasing.
| City | Projects | Names |
|---|---|---|
| Mumbai region | 6 | Labdhi BKC Edge, L&T Realty, Elphinstone, Meghna One, Thane, Phoenix, Thane, Sumitomo tower, BKC, CIDCO business district |
| Bengaluru | 3 | Embassy office campus, KRT, Sattva Global City, Prestige Airport hub |
| Gurugram | 3 | Signature–RMZ, SPR, M3M CFC, Gurugram, BPTP The Boulevard |
| Hyderabad | 2 | Vamsiram, Raidurgam, Mindspace Madhapur |
| Noida | 2 | Max One, Noida, Exotica One32 |
| Chennai | 1 | RMZ Infinity, Porur |
| GIFT City | 1 | Sri Lotus, GIFT City |
| Goa | 1 | DLF Promenade Goa |
| Thiruvananthapuram | 1 | WTC Thiruvananthapuram |
Status and type: what can you actually buy?
Only six of the 20 have been launched for sale. Five are under construction to lease, two are close to opening and seven are still being planned. Offices make up half the list.
How big are they?
By floor area, Embassy Developments' Bengaluru campus is the largest at 6 million sq ft across two phases. The Signature–RMZ project in Gurugram (3.94 million sq ft) and RMZ Infinity in Chennai (3.54 million sq ft) follow.
The office market in 2026
These projects are being built into a strong but more crowded market. CBRE says about 66.4 million sq ft of office space was leased from January to September 2026, a record for nine months, and global capability centres took about 28 million sq ft, or 42%. New supply hit a record of about 51 million sq ft over the same period. Cushman and Wakefield reports net absorption of 14.1 million sq ft in July to September and a record 22.7 million sq ft of completions, with vacancy up 63 basis points to 14.37%.
Rental yield calculator for an office or shop
Enter the price, area and expected rent of a unit to see the gross and net rental yield on your total cost.
The example figures are placeholders, not market rates; enter the rent and price quoted for the unit you are looking at. GST on rent is paid by the tenant and is not counted here.
Buy a unit or invest through a REIT?
Buying an office unit or shop gives you direct ownership and rent, but you take on vacancy, tenant risk and resale risk, and you need a large sum. Listed REITs own large office parks and malls, such as the campuses being built by Embassy, Mindspace and Knowledge Realty Trust, and let you invest small amounts through the stock market. They must pay out most of their distributable cash flow, and you can sell units easily, but you have no say in the property.
Buyer checklist: six checks before buying commercial property
- Check RERA and approvals. For a unit sold to you, get the RERA number for the exact phase and match it on the state RERA portal. Check the building plan approval and fire and environmental clearances.
- Verify land title and OC. Ask a lawyer to check the title and any mortgage on the land. For a completed unit, check the occupation certificate.
- Read the lease or sale deed. Check the carpet area, common area loading, maintenance charges, parking and the rules on leasing your unit.
- Check the tenant and lock-in. For a pre-leased unit, check the tenant's strength, the lock-in period, the rent increase clause and when the lease ends.
- Work out the net yield. Divide the yearly rent, after maintenance, property tax and expected empty months, by the full cost including taxes.
- Budget for GST and stamp duty. Add 12% GST on under-construction commercial units, state stamp duty and registration, and keep a cushion for delays.
State RERA portals: Haryana RERA, MahaRERA, Karnataka RERA, TG RERA, TN RERA, UP RERA and Gujarat RERA.
Risks to weigh
- More supply. Completions are at a record, and vacancy rose in July to September 2026 for the first time in three years.
- Empty months. A unit can stay empty for months between tenants, which cuts your yield.
- Long waits. Many of these projects are due in 2029 or 2030, and plans at an early stage can change.
- Small units. Small office units sold to investors can be hard to lease and resell if the building has many owners.
- Values are not prices. GDV, investment and land cost show the size of a project, not what a unit is worth.
Frequently asked questions
What are the biggest new commercial projects in India in 2026?
By disclosed value, the largest is the Signature Global and RMZ mixed-use project on the Southern Peripheral Road in Gurugram, with an estimated capital value of ₹14,000 to ₹16,000 crore. Next come Max One in Noida (GDV about ₹2,000 crore), M3M Capital Financial Center in Gurugram (expected revenue about ₹1,500 crore) and Embassy Developments' 6 million sq ft office campus in Bengaluru (₹1,500 crore for phase 1).
Which city has the most new commercial projects in 2026?
The Mumbai region has six of the 20: Labdhi BKC Edge, L&T Realty's Elphinstone Road tower, Sumitomo's BKC tower, Meghna One and Phoenix's Thane project, plus CIDCO's planned business district in Navi Mumbai. Gurugram and Bengaluru have three each.
Can I buy office space in these projects?
Some are sold in units (strata sale) and some are built only to lease. Projects that sell units include M3M Capital Financial Center, Labdhi BKC Edge, Exotica One32, Meghna One and BPTP The Boulevard; Max One also has saleable space. Campuses by Embassy, RMZ, Knowledge Realty Trust, Mindspace, Phoenix, L&T Realty and Sumitomo are built to lease and are not sold to individuals.
How can I invest in large office parks without buying a unit?
You can buy units of listed real estate investment trusts (REITs), such as Embassy Office Parks, Mindspace Business Parks, Brookfield India, Knowledge Realty Trust and Nexus Select Trust (malls), on the stock exchanges. A REIT must pay out most of its distributable cash flow to unitholders, and you can buy and sell units like shares.
What GST applies to commercial property?
An under-construction commercial unit attracts GST of 12% with input tax credit. There is no GST on a completed unit with an occupation or completion certificate. Rent from commercial property attracts 18% GST if the landlord is registered for GST. You also pay state stamp duty and registration. Confirm current rates with a tax adviser.
Does RERA apply to commercial projects?
Yes. RERA covers commercial projects sold in units, such as offices and shops, above the size limits in each state. Ask for the RERA number of the exact phase and check it on the state RERA portal. Campuses built only to lease, and not sold, do not need RERA registration.
How do I calculate the rental yield on an office unit?
Gross yield is the yearly rent divided by the total cost, including stamp duty, registration and GST. Net yield takes off property tax, maintenance you pay and months without a tenant. Use the calculator on this page to work it out.
Is demand for office space strong in 2026?
Yes. CBRE says about 66.4 million sq ft of office space was leased in India from January to September 2026, a record for nine months and 8% more than a year earlier, with global capability centres taking about 42%. New supply was also at a record, and Cushman and Wakefield reports that vacancy rose to 14.37% in July to September, the first increase after 12 quarters of decline.
Which commercial projects in this list open soonest?
Sumitomo's office tower in BKC was due to be handed over to JP Morgan from 1 October 2026, and DLF Promenade Goa is due to open in February or March 2027. Most other projects will take three to four years or more.
How did you choose and rank these 20 projects?
We included commercial projects in India (offices, malls, mixed-use developments and business districts) that were launched, started, bought, pre-leased or reached completion between January and mid-October 2026, with details in a stock-exchange filing, developer release or news report. We ranked them by disclosed value, then ranked projects without a value by size and status. The values measure different things, so the ranking shows scale, not investment returns.
Related guides
How we built this list
We included a project if it was a commercial project in India (offices, retail, mixed-use or a business district) and, between 1 January and 16 October 2026, it was launched for sale, started construction, had its land bought or its main contract awarded, was pre-leased, or reached completion. Every project needed published details in a stock-exchange filing, a developer release or a news report. We left out industrial and logistics parks, data centres, hotels on their own, and leases of existing buildings.
We ranked projects by the value disclosed, using the top of any range. Projects without a value come after, ordered by size and status. Values measure different things (GDV, expected revenue, capital value, investment, land cost or a construction contract), so the ranking shows scale, not investment returns.
Sources
Each project's sources are listed under its profile. Market data:
- CBRE office leasing, January to September 2026 (The Hans India)
- Cushman and Wakefield Q3 2026 office data (Construction World)
- JLL on BKC office supply (EPC World)
- Official portals: Haryana RERA, MahaRERA, Karnataka RERA, UP RERA, Gujarat RERA, SEBI (REITs)
This page is general information, and not financial, legal or tax advice. Project details change; confirm every figure with the developer and the RERA portal before you invest.
