Gurgaon used to be the preferred place for office rental. During the last couple of months, office rental increased tremendously. This led many companies to think about moving their offices to other cities. Even the lock-in period has failed to stop the companies to shift. Companies are also getting fully furnished offices at almost half the rates compared to what they were paying. Due to such trend, the demand for furnished office space is on the rise in Delhi as well as in all the major towns of the country. Companies prefer to start their office in furnished offices rather than starting them in bare commercial place.
As per CBRE, New Delhi witnessed a decline in retail rentals of 25% and ranked 69th in rentals among the list of major cities across the world during the Q1 of this year.
Demand for retail space has decreased in most markets across the world as consumers cut back on spending and unemployment continues to rise in many countries. New Delhi in India saw a 25% decline in last 6 months.