What are the 5 areas that are leading the commercial leasing activities in Delhi NCR?

 The redeeming fact about Delhi NCR is its fast emergence as a retail destination. Retail businesses of every ilk, from high end luxury retail brands to coffee shops, prefer to launch their stores in this geography ahead of any other.

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These facts make Delhi NCR the foremost commercial leasing market in India. After a hiatus of almost two years due to Covid, the commercial leasing activity in the region is back with a vengeance. It recorded a staggering 55% y-o-y growth in gross leasing during Q1 2022. This was led by professional services and e-commerce segments with respective shares of 17% and 13%. Healthcare & pharma was another sector that recorded traction with an 11% share in leasing.

Fresh leasing, including expansion and consolidation by occupiers, constituted 91% share of the quarter’s leasing. Flexible workspaces are finding new occupiers with occupancy levels touching new highs every passing month. Co-working and managed working spaces are finding their feet again and are witnessing hectic activity across Delhi NCR.

The leasing activity momentum that picked up after the second Covid wave in 2021 continues to show an upward trend. The confidence employers and employees exude, as a result of successful mass vaccination drives, are resulting in people getting back to offices, belying all the fears of a slump in new leases due to work from home policies. Large size deals of more than 100,000 sq. ft. spaces are back in vogue and there is a pressure for new supplies to be made available.

The leasing activities have picked up steam across Delhi NCR. However, different clusters seem to be attracting different categories of users. With new supplies in Delhi highly constrained, some office and retail leasing activities are seen only in Aerocity and Jasola micro markets. Rest of the locations in Delhi have seen new leases in less than 2000 sq ft sizes.

After a detailed analysis, we have picked up these 5 markets as the most upcoming locations for commercial leasing activities in Delhi NCR.

  1. Noida-Greater Noida market

  2. Gurugram

  3. Faridabad

  4. Kundli

  5. Manesar-Bhiwadi belt

Click here to know more…

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