Enclosed-space ventilation plays a pivotal role in enhancing indoor air quality (IAQ). Various regulations and guidelines determine minimum fresh air requirements, varying by the application, country, etc. The present study employs real-time indoor CO2 measurements to calculate the actual air change rate (ACH) and models the building’s compliance with Chartered Institution of Building Services Engineers (CIBSE) guidelines to assess its impact on IAQ. The contaminant considered is the SARS-CoV-2 virus with multiple infectors, and the study calculates the virus’s transmission risk under different scenarios. Fresh air is assumed to be provided by mechanical or hybrid ventilation. The results reveal that the current building conditions are unacceptable, showing a significant gap from the recommended guideline rates. Meeting CIBSE recommendations ensures indoor air safety in terms of CO2 concentration. However, in extreme conditions with five infectors, findings show a 14% reduction in mechanical ventilation efficacy. Among the hybrid ventilation scenarios, combining CIBSE rates with natural ventilation, with a 30% door and window opening from the class outset, proves most effective in reducing the virus’s transmission risk, with a 58–70% reduction from the building’s current condition. Furthermore, implementing supplementary measures like air cleaners resulted in an additional 28–50% reduction in transmission risk.