Rise Infraventures, in its latest report on Commercial Realty cited that Delhi-NCR Real Estate market is going to witness great appreciation of commercial real estate returns and rentals, in both, retail as well as office spaces.
Delhi-NCR is quickly emerging as India’s real estate hotspot, spurred by rapidly expanding start-ups and MNCs who are eyeing to establish their offices and data centres in NCR. Because of the positive trend, leasing activity is picking up in the region’s commercial real estate market. Besides, the retail sector in Delhi-NCR, experienced a strong recovery in Q2 2022, sparked by new leases and store openings, and increased demand for office co-working spaces.
The growth trend is more noticeable in Gurugram, where the commercial real estate market is seeing increased investment from prestigious investors, and industry giants, suggesting Gurgaon Retail Sale Price to overtake Delhi Retail Sale Price for the first time in 2023, and expected to touch 2,40,000 sq. ft. While Retail Spaces are set to witness an appreciation of 20
per cent; Retail rental income expected to breach 15 per cent mark; and Office spaces are expected to witness a price appreciation of 18-20 per cent in 2023, highest in Gurgaon.
Talking about Noida, the office market continues to see significant commercial office space take-up, with strong demand from industries like IT/ITES/BFSI, Startups, etc., fuelling the growth momentum. In Delhi, commercial retail realty is expected to grow at about 12 per cent, giving it a fresh impetus for the future. A-grade office space rentals are expected to go up by 22-25 per cent due to regained demand.
