Delhi NCR MarketBeat Reports
Suvishesh Valsan • 24/09/2026
An overview of evolving market trends, leasing activity and investment momentum across Delhi NCR’s real estate sector.
CURRENT MARKETBEATS
Delhi NCR Office Report
Delhi NCR recorded office leasing of 3.8 MSF in Q3 2026, taking 9M 2026 leasing to 10.7 MSF. Leasing activity was driven by a diverse mix of occupiers, with flexible workspace operators accounting for a 32% share, followed by IT-BPM and Engineering & Manufacturing. Gurugram accounted for 63% of the region’s leasing activity. Net absorption of 2.2 MSF outpaced new supply, lowering vacancy to 17.6%. Grade A office rentals rose 6-9% y-o-y across the region, with Gurugram CBD and NH-8 Prime outperforming at 12-15% growth.
Delhi NCR Retail Report
Delhi NCR recorded 0.6 MSF of retail leasing in Q3 2026, with high streets leading activity and accounting for 71% of total absorption. Gurugram remained the most active retail market, followed by Noida and Delhi, while F&B, Fashion and Entertainment brands drove demand. Retail leasing momentum in 9M 2026 totalled1.8 MSF, up 49% y-o-y. With no new mall supply, vacancy declined further across Grade A malls. Rentals continued to rise across prime high streets and leading retail destinations.
Delhi NCR Residential Report
Delhi NCR recorded 8,728 residential launches in Q3 2026, with Gurugram leading supply and peripheral corridors such as New Gurgaon, Golf Course Extension Road and Dwarka Expressway driving activity. Luxury housing gained momentum, while affordable housing continued to see strong demand. Weighted average launch prices rose to ~INR 16,400 per sq ft, reflecting a growing premium housing mix.
Delhi NCR Industrial Report
Delhi NCR’s warehousing and industrial market maintained strong momentum in H1 2026, with warehouse leasing reaching ~8 MSF, driven by robust demand from 3PL, FMCG and automobile occupiers. Gurgaon, Farukhnagar and Ghaziabad emerged as the leading logistics hubs, supported by large-format transactions.
India Capital Market Report
Cushman & Wakefield India Capital MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.
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