{"id":2882,"date":"2022-05-17T19:01:33","date_gmt":"2022-05-17T13:31:33","guid":{"rendered":"https:\/\/www.propertyxpo.com\/blog\/?p=2882"},"modified":"2022-05-17T19:01:33","modified_gmt":"2022-05-17T13:31:33","slug":"during-january-march-office-space-leasing-in-delhi-ncr-increased-by-more-than-2-5-times-according-to-a-report","status":"publish","type":"post","link":"https:\/\/www.propertyxpo.com\/blog\/during-january-march-office-space-leasing-in-delhi-ncr-increased-by-more-than-2-5-times-according-to-a-report\/","title":{"rendered":"During January-March, Office Space Leasing in Delhi-NCR Increased by More Than 2.5 times, According To a Report"},"content":{"rendered":"

In the January-March period of last year, office leasing totalled 7, 00,000 square feet. New office space supply declined 10% to 1 million square feet from 1.1 million square feet. At the end of last month, the Delhi-NCR<\/a> had a total supply of office space of 118.7 million square feet.<\/em><\/strong><\/p>\n

According to Colliers, the gross lease of office space in the Delhi-NCR market increased by more than 2.5 times to 1.8 million square feet between January and March, owing to increased demand from corporations and co-working spaces.<\/p>\n

In the January-March period of last year, office leasing totalled 7, 00,000 square feet.<\/p>\n

New office space supply declined 10% to 1 million square feet from 1.1 million square feet.<\/p>\n

At the end of last month, the Delhi-NCR had a total supply of office space of 118.7 million square feet.<\/p>\n

In its Delhi – NCR Office Market Snapshot for Grade – A (premium) buildings, Colliers India stated, “Gurugram topped office leasing activity, accounting for over 72 percent share in Q1 2022; DLF Cybercity emerged as the most favoured micromarket.”<\/p>\n

It said that vacancy remained constant due to consistent leasing in the face of limited supply.<\/p>\n

“In Q1 2022, supply is projected to be centred on NH-48, Golf Course Extension Road, and Noida Expressway,” Colliers said.<\/p>\n

During the first quarter of the calendar year 2022, the vacancy rate for office space was 23.5 percent. The monthly average rent was Rs 91.6 per square foot.<\/p>\n

DLF, Brookfield, Bharti Realty, and Max Estates are among the prominent developers in Delhi-NCR that provide office space for leasing.<\/p>\n

DLF Cyber City Developers Ltd, a joint venture between DLF and Singapore’s sovereign wealth fund GIC, owns and operates various commercial property\u00a0 in Gurgaon<\/strong><\/em><\/a>.<\/p>\n

Brookfield, a worldwide investment group, has purchased a 51% share in Bharti Enterprises’ four commercial buildings, including Worldmark at Aerocity in the national capital, for Rs 5,000 crore.<\/p>\n

Max Estates has two commercial developments in Noida: “Max Towers” and “Max House” in Okhla, Delhi. Max Estates has partnered with New York Life Insurance Company for its third commercial project, Max Square, in Delhi – NCR.<\/p>\n

WeWork, Smartworks, Skootr Global, The Executive Centre, Simpliwork, Awfis, and The Office Pass are among the co working companies with a significant presence in the NCR.<\/p>\n

According to a Colliers analysis, gross office space leasing in the top six cities increased dramatically from 4.7 million square feet a year ago to 13 million square feet in January-March 2022, while supply doubled to 14.3 million square feet from 7 million square feet.<\/p>\n

Bengaluru, Chennai, Delhi-NCR, Pune, Hyderabad, and Pune are the six cities monitored by Colliers India. These six cities have a combined office space stock of 601 million square feet.<\/p>\n

“The second quarter of 2022 will be critical, as more businesses are expected to build offices. The year 2022 is expected to be a great year if the general leasing trend continues “Ramesh Nair, CEO of Colliers India, said.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

In the January-March period of last year, office leasing totalled 7, 00,000 square feet. New office space supply declined 10% to 1 million square feet from 1.1 million square feet. At the end of last month, the Delhi-NCR had a total supply of office space of 118.7 million square feet. According to Colliers, the gross lease of office space in the Delhi-NCR market increased by more than 2.5 times to 1.8 million square feet between January and March, owing to <\/span>Continue Reading<\/span><\/a><\/p>\n","protected":false},"author":5,"featured_media":2883,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2882","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/www.propertyxpo.com\/blog\/wp-json\/wp\/v2\/posts\/2882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.propertyxpo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.propertyxpo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.propertyxpo.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.propertyxpo.com\/blog\/wp-json\/wp\/v2\/comments?post=2882"}],"version-history":[{"count":1,"href":"https:\/\/www.propertyxpo.com\/blog\/wp-json\/wp\/v2\/posts\/2882\/revisions"}],"predecessor-version":[{"id":2884,"href":"https:\/\/www.propertyxpo.com\/blog\/wp-json\/wp\/v2\/posts\/2882\/revisions\/2884"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.propertyxpo.com\/blog\/wp-json\/wp\/v2\/media\/2883"}],"wp:attachment":[{"href":"https:\/\/www.propertyxpo.com\/blog\/wp-json\/wp\/v2\/media?parent=2882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.propertyxpo.com\/blog\/wp-json\/wp\/v2\/categories?post=2882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.propertyxpo.com\/blog\/wp-json\/wp\/v2\/tags?post=2882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}