Delhi National Capital Region in India has seen commercial Grade A space absorbtion increase by 42% in the first seven months of the year to 5.1 million sq ft, according to a study by DTZ Debenham Tie Leung.
“The office market has primarily been driven by the IT/ITES sector which accounts for about 75% of the total office absorption in NCR,” said Ankur Srivastava, Managing Director, DTZ Debenham Tie Leung India.
Numerous factors have contributed to this increasing commercial demand in the NCR region. NCR has edged over most Indian cities in the demand for commercial property due to its improved connectivity, better infrastructure and availability of skilled human resource. Because of the Commonwealth Games, transportation, hotel accommodation, security and all other supporting infrastructure are getting a boost while the market for information technology (IT) is the highest in the city of Delhi.