The recent report by JLL shows a surge in office space leasing in Delhi during Q1, 2024. According to the report, the increase in demand by domestic occupiers is the reason behind it. Gross office leasing in the national capital city is registered at 4.03 million sq. ft. It includes flex that counts 54% of the leasing activity.
Along with Delhi, NH 8 and Gurugram and Noida recorded the highest leasing activity between January and March. The NCR region together accrues 50% of the total leasing activity.
Manish Aggarwal, Senior Managing Director, North East & India, said, “Among the various submarkets within Delhi-NCR and NH 8 in Gurugram and Noida city showcased the highest leasing activity, collectively accounting for 50% of the total leasing during the quarter. These areas have become prime destinations for businesses and have attracted significant attention from occupiers.”
He further said, “The impressive leasing performance in Delhi-NCR’s first quarter highlight’s the regions resilience, vibrancy, and attractiveness as a commercial real estate market.”
In the first quarter, Flex operators specially recorded high growth by acquiring 1.42 million sq. ft. The trend indicates growing popularity and asks for flexible workplaces in the Delhi-NCR region.
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