After nearly ten years of sluggish movement, Delhi’s office market is finally waking up. A joint report by CBRE and CII notes that close to 5 million square feet of new Grade A space is expected over the next two years. For developers and occupiers who had grown used to slow momentum, this marks a real shift. Delhi’s old commercial clusters are being upgraded, large infrastructure links have started shaping corporate behaviour, and companies are once again hunting for modern, efficient offices. For the first time in a long while, Delhi looks ready to reclaim a meaningful role in NCR’s commercial story.
The quiet force behind this revival is infrastructure. The Dwarka Expressway has opened new movement corridors. The Delhi-Mumbai Expressway is progressing. The Noida International Airport is shaping investment sentiment even before operations begin. RRTS trials and metro expansion are shrinking distances between cities that once felt disconnected. As these links fall into place, NCR is starting to resemble a single commercial network rather than a set of isolated pockets. Companies planning expansions are now thinking across the region instead of sticking to one established hub. They want connectivity, talent access, and predictable travel patterns, and NCR is finally offering all three.
Fresh numbers from Cushman and Wakefield underline this momentum. Net office leasing in Delhi-NCR jumped 2.5 times in the July–September quarter compared to a year earlier. The region clocked 3.79 million square feet of net leasing, contributing almost a quarter of the total activity across the top eight cities. Corporates are clearly moving back into high-quality spaces, especially those designed for hybrid work, energy efficiency, and employee comfort.
The return-to-office trend is also reshaping the map. Sectors like BFSI, tech, consulting, and global capability centres are now favouring buildings that offer better layouts, sustainability features, and the ability to scale without friction. This is pushing companies to look beyond traditional CBDs and consider emerging micro-markets that offer more flexibility and better connectivity.
One of the biggest beneficiaries of this shift is Faridabad. Long considered a residential-heavy city, it has quietly built a strong presence in retail, commercial, and mixed-use development. Mohit Goel, managing director of Omaxe Group, points out that Faridabad is finally entering the phase it has been preparing for. He notes that the city offers rare advantages in today’s inflated market: competitive rentals, larger land parcels, and far better affordability than established corporate centres. Upgraded metro connectivity, fast-paced infrastructure works, and its proximity to the upcoming Noida International Airport are pushing it onto corporate shortlists. From a developer’s view, Faridabad is no longer a side story but a serious contender for occupiers looking for scale without ballooning costs.
Gurugram and Noida, the long-time pillars of NCR’s commercial landscape, are also seeing new dynamics. Gurugram continues to attract multinational companies, especially along Golf Course Extension Road and the Dwarka Expressway. Demand is shifting toward integrated work environments that pair office spaces with retail, social amenities, and reliable last-mile connectivity. Sandeep Chhillar of Landmark Group says companies today want efficient, well-designed workplaces that support their sustainability goals and improve employee experience. This demand is pushing developers to think beyond glass towers and create ecosystems that feel livable and future-focused.
Noida and Greater Noida, meanwhile, have become the most active region for GCCs. Better connectivity through the Noida–Greater Noida Expressway, upcoming airport-linked developments, and steady supply pipelines have made this belt a strategic favourite. Amish Bhutani of Group 108 highlights that the area is emerging as one of the country’s most important office corridors, thanks to rising investor confidence and a clear appetite for modern office and retail formats.
Gurugram’s Golf Course Extension Road deserves special mention. Sonakshi Wadhawan of RISE Infraventures notes that companies are far more exacting in their requirements now, and this corridor matches their expectations with sustainable buildings, strong connectivity, and planned social infrastructure. The area has matured into a cohesive business district where the office is only one part of a larger, well-designed environment.
Across NCR, the common thread is clear: demand is shifting from simply adding more offices to building better-planned, better-connected work ecosystems. The historic tilt toward Gurugram is beginning to ease as Delhi and Faridabad re-enter the conversation, backed by infrastructure upgrades and fresh supply. The result is a more distributed, future-ready NCR—one that can support large corporate footprints across multiple nodes rather than relying on one dominant centre. This transformation is laying the foundation for NCR to operate as a unified commercial powerhouse in the years ahead.
