Demand for office space in Delhi NCR area has grown 50 per cent year-on-year in 2021, majorly resulting from robust absorptions by startups and know-how corporations, stated international actual property consultancy agency Colliers.
In 2021, whole absorption in the office space phase was 6.3 million sq. ft, it stated. Of the entire, startups absorbed 1 million sq. ft.
“Gurugram led the leasing exercise accounting for 64 per cent share in general transactions. Flight to high quality is driving occupiers’ actual property technique and Noida Expressway, Golf Course Extension Road and DLF Cybercity drove the majority of leasing exercise as they regarded for better-quality buildings,” it added.
With greater than 25 years presence, Colliers, a Nasdaq-listed firm, is an expert consultancy agency which supplies recommendation to actual property occupiers, homeowners and traders with operations in 67 international locations.
“For north India, solely the NCR can boast in phrases of great office absorption as the opposite main cities haven’t chosen office markets. Hub’n’spoke fashions haven’t been profitable as a result of mindset of the workforce nonetheless selecting to maneuver to main metros.
“Co-working transactions have been the desire for most occupiers and can proceed to be the desire for Occupiers all through 2022 till there’s an finish to the unsure atmosphere created as a result of pandemic,” stated Bhupindra Singh, Managing Director, Regional Tenant Representation and Office Services, North India, Colliers.
“…The general absorption numbers point out a robust need for corporates to decide to the office phase and thereby showcasing that the WFH is an interim choice solely.”
Besides, demand for flex areas grew threefold throughout the calendar yr.
Going ahead, leases in key micro markets like Cyber City, Sector 16 A and 16B Noida, Golf Course Road and Sector 62 are anticipated to see a gradual rise as a result of restricted availability of high quality inventory, Colliers stated.
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