Flex workspace operator Executive Centre India has secured a significant office space lease in Delhi's Worldmark complex, owned by Bharti Real Estate, the realty arm of Bharti Enterprises. According to lease documents accessed by Propstack, the deal involves a total rental outlay of ₹309 crore over a nine-year tenure. The company will pay rent for a chargeable area of 114,950 square feet, resulting in a monthly rent of ₹2.47 crore. Executive Centre has already paid a deposit of ₹14.83 crore as part of the fresh lease, which commenced in March 2026. The company will take space on the seventh floor of Worldmark 6 in Delhi's Aerocity, part of Bharti Real Estate's commercial real estate campus spanning 20 million square feet.
The leased space is located on the seventh floor of Worldmark 6 in Delhi's Aerocity, part of Bharti Real Estate's commercial real estate campus spanning 20 million square feet. According to the documents, the leased space will see a 15 per cent rent escalation every three years. This transaction follows recent major leases at the same location, including Hero MotoCorp's fresh lease for 231,109 square feet with an estimated total rental outlay of ₹593.8 crore, and WeWork's lease for 113,976 square feet with a total rental outlay of ₹328.5 crore. The deal with Executive Centre comes at a time when Bharti Real Estate is expected to complete the second phase of the Worldmark complex, which includes Worldmark 6, by 2027.
According to a report by real estate consultancy Knight Frank India, office absorption in Tier-I cities reached 40 million square feet in the January-June period of 2026 due to high leasing activity by global capability centres, technology firms, and domestic companies. As reported by Business Standard, Bharti Real Estate's managing director and CEO noted that while there is strong demand for Grade A-plus office space in India, the biggest challenge remains the limited availability of premium office real estate. "There are very few developers in this segment because here you need corporations with deep pockets. A rental or leasing model requires you to invest your entire corpus in advance, years before you actually start getting your money back in terms of revenue," he added. The company is currently touching a leasing rate of ₹270 per square foot and is confident of reaching ₹300 per square foot soon. According to the CEO, developments such as Worldmark have piqued the interest of three types of organisations: those planning to enter India, those moving to premium locations from regional centres, and government as well as semi-government institutions.
According to Propstack, while the Executive Centre and Hero MotoCorp leases have been worked out at monthly rental rates of ₹215 per square foot, WeWork will be paying a monthly rental rate of ₹210 per square foot. The deal with Executive Centre comes at a time when Bharti Real Estate is expected to complete the second phase of the Worldmark complex, which includes Worldmark 6, by 2027. The latest addition includes Lenskart's lease for 88,343 square feet at a monthly rental rate of ₹1.86 crore, also at the ₹210 per square foot rate.
