Office: A staggering 55% growth in gross leasing was recorded in Delhi NCR, which reached 3.18 msf y-o-y. This is the second highest leasing since the pandemic and was led by professional and e-commerce segments, followed by healthcare and pharma. Flexible spaces have seen renewed interest by occupiers including large enterprises.
Residential: The launch activity in Delhi NCR remained strong in Q1 2022, with 2,045 new launches, this is a substantial increase of 7% y-o-y. The high-end and luxury segments were in the limelight, they accounted for 54% share in quarterly launches. All new launches were by established and renowned developers. Gurugram constituted 54% share in unit launches, while Delhi accounted for the remainder.
Retail: New leases and store openings of 0.25 msf in Delhi NCR was recorded in Q1 2022, highlighted with store relocations and churn activity. Retailer churn drove the majority of leasing activity in this quarter. Food & beverage was another important driver, with new store openings by Moti Mahal, Gur Chini and Sticky Rice amongst many others. Fashion retailers were also quite active in this quarter.
Learn more by clicking our most recent Delhi NCR MarketBeat reports below.
