Office: Robust leasing activity was seen in Delhi NCR in the third quarter, recording a 6.13% q-o-q growth and a 46% increase on an annual basis. The IT-BPM and professional management systems cumulatively led the Q3 leasing activity with a 41% share, followed by engineering and manufacturing with a 13% share and flexible workspaces with 6%. A net absorption rate of 1.3msf was recorded in this quarter, 67% higher compared to the same time last year.
Residential: In Q3 2022 the luxury segment remained the key driver with a majority share of 57% followed by the mid-segment with 43% of quarterly launches. With the festive season around the corner, Delhi NCR is witnessing an improvement in demand. Developers are optimistic about the strengthening in sales during this period.
Retail: Healthy leasing continued in the third quarter of 2022, with malls in Delhi NCR leasing approximately 0.22 msf. The majority of leasing was contributed by the fashion and apparel sector. Footfalls in major malls across Delhi NCR have surpassed pre-COVID numbers and this trend is expected to continue during the upcoming festive season.
Learn more by clicking our most recent Delhi NCR MarketBeat reports below.