A few hundred meters away, Zulfiquar Memon, managing partner of the law firm MZM Legal, is also doubling its office space, with recruitment booming. “We are constantly working with our counterparts in the US, UK and other parts of the world, which means people will be staying in the office beyond normal working hours, and for that we need to create good environment and facilities, and it requires more space,” Memon said.
Not just Joshi and Memon, a group of law firms are expanding their offices or moving to larger spaces due to the growing demand for legal services. Since late 2020 and early 2021, law firms have enjoyed record spikes in deals, litigation, and other business transactions.
Companies are looking for buildings that offer better connectivity, multifunctional spaces, a collaborative environment, good recreation and rest areas that have open spaces, according to real estate consultants and law firms. “Most law firms have seen portfolio expansions and upgrades occur in better buildings with Class A amenities. The focus on employee well-being leads to increased uptake in premium locations, which have Grade A offices and unique amenities within the project and surrounding areas,” said Shweta Sawhney, MD, Delhi-NCR, Savills India.
Brokers say the demand from law firms has helped the rental market in the best Central Business Districts (CBDs) of Gurgaon and Noida. Even when most law firms have continued with a hybrid working model, which allows employees to come into the office only a few days a week, firms are increasingly asking lawyers to come into the office. Companies are also adding office space in anticipation of more work and hiring in the coming years, and the focus is on adding more functional spaces.
“People should want to come to the office rather than being forced to come,” Joshi said.
Top firms have also moved to larger offices to accommodate more lawyers. Last year in February, Max Estates, a subsidiary of Max Group’s listed entity, Max Ventures & Industries, leased nearly 80,000 square feet in Noida to Cyril Amarcand Mangaldas (CAM).
Sridhar Gorthi, a partner at law firm Trilegal and a member of its management committee, said that over the past three years his firm had moved into new, more flexible office spaces in Mumbai, Gurgaon and Bengaluru.
“With the rental of 40,000 square feet of office space in Saket, our Delhi office will now undergo an upgrade. Collectively, these upgrades will result in our office space growing by almost 70% since 2019. “, did he declare. Zulfiquar Memon, managing partner of law firm MZM Legal, said new era firms need space for their IT infrastructure, finances, administrative staff and even communications professionals, not just lawyers. . Many companies have also created multiple satellite workspaces for the convenience of their staff rather than having a single location in metros such as Delhi-NCR and Mumbai.
“We rent offices in several locations in these cities with the aim of providing flexibility to our lawyers, increasing productivity and providing a better work-life balance,” said Gaurav Dani, senior partner at ‘IndusLaw.