By 2020, Around 50% of New Office Supplies in NCR to Come Up in Noida

By : 360 Realtors

28 June, 2018

According to a study, around 50% of the supplies of new offices in the NCR region are likely to come up in Noida by 2020. Noida is rapidly developing as a commercially important place in India. Investors looking for the best properties in India can have a look at the projects in Noida. This area is likely to house around half the new offices in the NCR region, that are going to be developed in the next few years. Presently, around 44 million Sq. Ft. of new office space is under constructio0n in the NCR region. This statistic has been revealed by the Colliers International India. It is estimated that around half of the new supplies will come up in Noida, While Gurgaon will account for 40% and New Delhi for 8%. You can have a look at the India property online, if you are willing to buy a property in this region.

Vacancy rates in these areas have been high and the constructions have reduced the rate of launch of new projects in the first quarter of 2018. However, in the coming years, the demand for commercial property in the area is likely to increase. Particularly, this is going to rise between 2018 and 2020. It is estimated that the demand for property in this region will be visible in the coming years.

In the first quarter of 2018, Noida recorded a gross absorption of 1.01 million Sq. Ft. of commercial space. In Gurgaon, the figure was around 1.72 million Sq. Ft. However, the figure was low in Delhi, which recorded a gross absorption of 0.26 million Sq. Ft of space. Among these, most of the commercial spaces were absorbed by the technology sector, accounting for around 25% of the total absorption. The financial sector accounted for 20% of the absorption. The vacancy levels in Gurgaon are likely to remain high by around 25% during 2018-2020. Have a look at the new property in India and make your purchase. The prices of these properties are likely to increase in the coming years. You can get the commercial properties customized according to your needs.

In the first quarter of 2018, leasing activities in Delhi have remained limited. It was just around 0.26 million Sq. Ft, which has shown a decline by as much as 21% on the year on year basis. The reduction in the level of absorption is primarily due to the limited availability of Grade A apace in the major micro markets in the city. Most of the office space supplies were taken up by the manufacturing and engineering sectors. These sectors accounted for around 38% of the total leasing volume of the properties. During 2018-2020, the vacancy rates in Delhi are likely to around the 10%-11% range. The premium buildings are likely to witness an increment of 5% on annual basis in rent during the next three years. Investors should keep an eye on the online property sites in India and make buy commercial spaces in these areas. The prices of commercial property in the NCR region are likely to rise in the coming years.