Rise in Delhi-NCR office space
Delhi-NCR has recorded 39 per cent increase in net office space absorption at 2.4 million sqft in the first half of this year on the back of a few large-sized leasing transactions, according to property consultant Cushman & Wakefield.Net leasing of office space stood at 1.7 million sqft in January-June of 2015.
The increase in the overall activities was due to some large-sized deals taking place in the market.
“The interesting development to note in the NCR market is the uptake of space in Noida due to its price advantage. Even while Gurgaon has seen steady absorption levels, Noida can be a potential precursor to the next phase of growth for this region,” C&W India Managing Director, Anshul Jain said.