‘NCR’ biggest market space in India, reports Knight Frank
The National Capital region (NCR) is expected to observe an additional supply of 48 million sq. ft. of office space over the next three years which may lead to fall in rentals, realty consultant Knight Frank said.
The majority of the office supply is likely to crop up in Gurgaon and Noida markets while the rental values in Delhi are expected to rise as there will be high demand and lack of new supply.
With nearly 85 million sq. ft. of office space under operation, the NCR region is considered to be the biggest market in India. Backed by the growth of IT sector, the region has witnessed tremendous development in the recent years.
The rental values in locations across the central business district (CBD) and south business district (SBD) in Delhi are expected to witness appreciation owing to anticipated office space demand.
To read more real estate news:
Commercial rents remain stable
Revenues of realty firms witness downtrend
Source: The Economic Times
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[...] ‘NCR’ biggest market space in India, reports Knight Frank [...]
[...] ‘NCR’ biggest market space in India, reports Knight Frank [...]