Delhi-NCR Real Estate: The real estate market of the country is growing rapidly. Property prices are increasing rapidly in Delhi-NCR also. There is also huge demand for commercial space here. According to a report by CII and CBRE, about 50 lakh square feet of new Grade A is expected to be supplied in the next two years. The industry has been waiting for this change for a long time.
Let us tell you that in the real estate sector, such projects come under Grade A category, which are built by good and renowned builders, whose quality is good, these projects are built with better locations and all the modern facilities.
Changing thinking of companies
The real estate infrastructure of Delhi-NCR is changing as many new development projects are getting ready like the opening of Dwarka Expressway, rapid progress of work on Delhi-Mumbai Expressway, construction of Noida International Airport, RRTS, Peripheral Expressway Connector, increasing scope of Metro etc. That is, as connectivity is becoming stronger, the thinking of companies regarding Delhi-NCR is also changing. Since moving from one place to another is now becoming easier than before due to better connectivity, the chances of companies getting capable talent from far away places or any part of the city are also increasing.
Demand for workspace is increasing rapidly
Another report by Cushman and Wakefield states that 2.5 times more office space was taken on lease in the property market of Delhi-NCR during July-September, which was due to higher demand for premium workspace among corporates. In the third quarter, 3.79 million (37.9 lakh) square feet were leased, which was 1.52 million (15.2 lakh) square feet even a year ago. During the July-September quarter, Delhi-NCR’s share in the office space taken on lease in eight big cities of the country was 23 percent.
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