The Indian commercial real estate market is undergoing a transformative shift. Domestic firms are taking center stage in office leasing, creating ripple effects across the nation. This trend is particularly significant in Delhi NCR region. Which is set to become a commercial hub with the development of Jewar International Airport.
Domestic firms accounted for 47% of total office leasing activity from 2022 to H1 2024, as highlighted by a recent CBRE report. With an estimated 60-65 million sq. ft. of office space set to be leased by domestic firms between 2024 and 2025, the market is primed for exponential growth.
Increased business confidence, digitalization of services and workplace strategies led to a ~60% increase in office space leasing by domestic firms in 2022-23 as per reports by CBRE Research. The report further reveals, Delhi NCR has been the leading market for domestic space take-up since 2018, followed by Bengaluru and Mumbai.
The future is bright for commercial real estate in Noida and similar hubs:
Noida, Greater Noida West, and Yamuna Expressway are ideally positioned to benefit from these trends. With growing demand for high-quality, adaptable workspaces, a large educated workforce coming out of knowledge parks and state-of-the-art infrastructure, these regions offer immense investment potential.
Contact us today to leverage these opportunities and secure a strong foothold in India's booming office leasing market that generates steady return on your investments for decades to come!
Comments