Learn more by clicking our most recent Delhi NCR MarketBeat reports on the various sectors below.
Delhi NCR MarketBeat Reports
03/07/2024
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.
CURRENT MARKETBEATS
Delhi NCR Office Report
Delhi NCR saw gross leasing volume (GLV) of 3.01 MSF in Q2 2024. Fresh space take-up accounted for a 77% share; pre-commitments remain high at 23%. IT-BPM led the quarterly demand with 31% share, followed by professional services (20% share). Net absorption stood at 1.45 MSF, a 9.5% increase from Q2-23. Gurugram led demand, securing 61% followed by Noida (23% share). 0.31 MSF of supply addition was witnessed this quarter. Close to 1.73 MSF of supply is expected in next six months. City-level rentals witnessed rental increase of almost 2% on a q-o-q basis.
Delhi NCR Retail Report
Delhi’s malls and main streets experienced ~ 0.51 MSF leasing activity, nearly 2x from Q1 2024 and a 54% increase compared to Q2 2023. In retail mall spaces, the fashion category dominated with a 38% share, followed by F&B with a 29% share. Main streets were primary drivers of this quarter's activity, with 0.36 MSF of leasing. Fashion dominated the city’s main street markets with a 37% share. City’s overall vacancy rate remained steady at 15.6%. Mall rentals remained stable. Prime main streets of Gurugram saw 5% q-o-q growth. South Delhi markets saw 7% q-o-q growth.
Delhi NCR Residential Report
In Q2 2024, Delhi NCR experienced robust supply representing growth of ~1.8 times more than Q1 2024. H1 2024 supply was 40-60% higher than the annual launches seen in 2022 and 2021. Gurugram led quarterly supply (69%) followed by Noida (31%). Noida saw a significant increase, 1.5x the average of the past five quarters. High-end and Luxury segments dominated with 53% market share, an increase of nearly 1.5 times the average launch of the past five quarters. Mid segment comprised 45% of quarterly supply. Capital values grew 3-4% q-o-q. Headline city-wide rentals grew 1-2% q-o-q.
Delhi NCR Industrial Report
Delhi NCR witnessed strong leasing of 4.76 MSF during H1 2024, a 56% increase from H2 2023. Noida and Farukhnagar dominated H1 leases with 32% share. Automobile and e-commerce segment contributed ~13% share each in H1 2024. Two prominent land transactions were recorded during the period at Farukhnagar and Faridabad. Quoted rentals in prime warehousing markets of NCR experienced a 5-10% y-o-y growth. Industrial micro markets such as Dharuhera and Bawal witnessed rental growth of 6% y-o-y.
India Capital Market Report
Q2 2024 witnessed massive investment inflows amounting to INR 231.5 Bn (USD 2.77 Bn), marking a 1.5x q-o-q growth. The Logistics & Industrial (L&I) segment led with 56% share.
RELATED INSIGHTS
Insights
India, the world’s fastest-growing economy, is set to reach USD 5 trillion by 2027, becoming the third largest globally. This growth will bring numerous opportunities, especially in consumption-driven sectors like retail.
19/09/2024
Research • Workplace
From Flex to Managed: Evolution of the Flex Space Industry
The evolution of the flex segment in India’s office market has been a story of rapid transformation. The flex space operator footprint surged by 23% in 2022 and 18% in 2023, marking the sharpest rise seen in history! With H1-24 already adding about 5 MSF to the total inventory, 2024 continues to maintain this momentum.
03/09/2024
Research • Workplace
REWORKING the Office Asia Pacific
Our ‘REWORKING’ series examines decision-making for occupiers under four key considerations: Cost, Carbon, Culture and Community – under which the changing demands, needs and impacts on office spaces and strategies can be examined.
Khurshed Gandhi • 03/11/2023