According to property consultant Cushman & Wakefield Delhi- NCR has noted increase of 39% in net office space consumption at 2.4 million square feet in the 1st half of this year on the opposite of a some large sized rent out deal.
In January- June of 2015 net renting out of office space stood at 1.7 million square feet.
Cushman & Whitefeild said in its report ” Delhi- NCR observes 2.4 million square feet of net consumption during H1 of 2016, a flow 0f 39% from the comparing period last year.
C & W also added that the rise in the whole activities was because of few big sized deals are occurring in the market.
MD Anshul Jain said ” The development to recorded in the NCR market is the comeback of space in Npoida due to its price profit. Gurgaon witnesses constant consumption levels, this big deal in the Noida can be likely messenger to the next chapter of growth for this region”.
He also added ” Noida has to its profit a booming infrastructure and clashes in comparison with Pune and Hyderabad.
Report said that consumption of office space down to 18% to 14.5 million square feet during first 6 months of 2016 in 8 cities like Delhi- NCR, Mumbai, Kolkata, Ahmedabad, Pune, Chennai, Hyderabad and Bengaluru.
Delhi- NCR observes 45% down to 2.7 million square feet on supply of office space in the month of January – June 2016 from 4.9 million in the year ago.
During the period under overall analysis of 8 cities, supply down 7% to 19.9 million square feet from 21.5 million square feet.