Despite this decline, Delhi, the capital city of India, witnessed a rise in net absorption rate. Let’s take a deeper look into why it makes sense to get a rented office space in Delhi:
- During the first half of 2016, the net absorption of commercial space in Delhi-NCR region was about 2.4 million square feet. This was 39% more than the previous year. This surge was primarily due to the overall increase in business and investment activities in Delhi-NCR region. The net absorption of commercial space in the Delhi-NCR region was primarily heightened by the increased space take-up by the IT-ITES companies.
- According to a survey by CBRE India, the demand of corporate office in India had witnessed a growth during the third quarter of 2015. During that period, more than 9 million square feet of office space was leased across the leading cities in the country. Out of them, Delhi-NCR region was the most desired destination for leasing an office space. It attracted 31% of the total leased office spaces in the country.
- The Indian Office Market Review 2015 by CBRE mentions that the demand for quality Grade-A office spaces is on rise and this demand has boosted the absorption of corporate real estate in the leading cities in India, particularly the Delhi-NCR region. In case you too want to rent office space in Delhi, then get in touch with us at https://smartworksoffice.com/
- These activities are primarily driven by the commercial space requirement by the corporate organisations, primarily in the IT-ITES sector. The IT-ITES sector constituted about 50% of the total demand. This was followed by the banking and financial services sector and E-commerce sector.
- The report also mentions that the infusion of new commercial spaces in the key cities, including Delhi-NCR region also contributed to the growing demand for commercial space. An increased availability of rented office space in Delhi has also attracted healthy queries from businesses. According to Samantak Das, the Chief Economist and National Director of Research at Knight Frank India, cities such as Mumbai and Delhi are top choices for renting commercial space in term of rentals.
We hope that this data will give you an overview of why top companies prefer Delhi-NCR for their next office destination. ?