Commercial Realty of NCR and top cities to witness boost
With the highest per capita income, Delhi offers immense opportunities for individuals to prosper in the state. Delhi’s per capita is almost triple of the country’s, making it most sought after ‘job seeking’ destination.
The big statistical boost has made Delhi number 1 destination for migrants from all parts of the country. The rising population triggered the growth eruption of NCR evolving it as top spot for real estate investment. Due to this tangential development, areas such as Gurgaon, Noida and Greater Noida have emerged as the major urban centres of NCR.
Being a preferred hub for fortune 500 companies, NCR today sits at the pinnacle of India’s commercial real estate map. Speedy growth in services sectors like IT/ITeS, BFSI, Telecom, etc., extensions of industrial corridors and favorability amongst MNCs has paved a strong growth path for NCR’s robust economy and real estate sector. A recent study highlighted that NCR accounted for 28% of the office absorption in India.The sturdy emergence of start-ups and strengthen spirit of entrepreneurship has created a steep demand in office spaces. To keep up with the trends realtors are offering multiple and flexible option of work spaces such as flexi-offices, co-working spaces, business centers etc.
“With demand for co-working space on rise, Vatika Business Centre recently added 80,000 sq ft of office space, comprising over 1,100 seats, in four cities — Delhi, Mumbai, Pune and Faridabad. Our offerings include serviced offices, co-working spaces, meeting rooms and virtual offices,” said MD, Vatika Group, Gaurav Bhalla.