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Delhi NCR MarketBeat Reports

19/10/2022
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.

Office: Robust leasing activity was seen in Delhi NCR in the third quarter, recording a 6.13% q-o-q growth and a 46% increase on an annual basis. The IT-BPM and professional management systems cumulatively led the Q3 leasing activity with a 41% share, followed by engineering and manufacturing with a 13% share and flexible workspaces with 6%. A net absorption rate of 1.3msf was recorded in this quarter, 67% higher compared to the same time last year.

Residential: In Q3 2022 the luxury segment remained the key driver with a majority share of 57% followed by the mid-segment with 43% of quarterly launches. With the festive season around the corner, Delhi NCR is witnessing an improvement in demand. Developers are optimistic about the strengthening in sales during this period. 

RetailHealthy leasing continued in the third quarter of 2022, with malls in Delhi NCR leasing approximately 0.22 msf. The majority of leasing was contributed by the fashion and apparel sector. Footfalls in major malls across Delhi NCR have surpassed pre-COVID numbers and this trend is expected to continue during the upcoming festive season. 

Learn more by clicking our most recent Delhi NCR MarketBeat reports below.

CURRENT MARKETBEATS

Office Buildings CBD
Delhi NCR Office Report

Delhi NCR recorded a total supply of about 3.49 msf during Q3 2022, which is the highest supply in recent times – this is an indication of strengthening demand and rising confidence of developers. A new supply of 19.73 msf is expected in 2024, with 60% of it being added in prime locations – this will have a significant impact on rental in the upcoming quarters.

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Shopping Retail
Delhi NCR Retail Report

Continued leasing momentum coupled with no new supply in Q3 2022, Delhi NCR saw a marginal drop in vacancy levels. Few superior malls have seen an appreciation of rental values of 5-10% on a q-o-q basis, with an expectation for a further rise in the upcoming quarters. 

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Warehouse Internal Rack
Delhi NCR Residential Report

Rental rates recorded a healthy q-o-q increase of 2-3% and a y-o-y increase of approximately 5-6%, in prominent submarkets of Delhi. Submarkets of Gurugram and Noida also saw a q-o-q escalation of 5-7% and a significant increase y-o-y of 12-13% due to an increase in demand. 

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Warehouse Internal Rack
India Investment Report

The third quarter recorded private equity investment inflows of INR 131.2 bn (USD 2.27 bn), a near 1.3x growth in investment receipts as compared to the previous quarter and same period last year (Q3-21).

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Warehouse Internal Rack
Delhi NCR Industrial Report

Warehousing demand skyrocketed in H1 2022, compared to last year with a transaction volume of 7.0 msf. This healthy take-up was led by third-party logistics with a share of 24%, followed by the e-commerce segment with a 15% share. The robust demand for warehousing space, coupled with limited space availability, led to a 10-15% y-o-y rise in rent, which promises to continue in the coming half of the year. 

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