After Bangalore, the Delhi NCR region is the second place to have the highest market for office spaces with 8.31 million sq ft of cumulative office leases.
The report also stated that, “These companies will need to choose between staying at the current location at higher rentals and relocating to peripheral micro-markets offering cheaper rentals. Gurgaon will thus witness further segmentation of micro-markets in cost terms this year.”
IT companies are the biggest occupant of these spaces followed by Engineering and BFSI.
As per the report, in 2013 NCR region saw a growth of 22 percent in the commercial space absorption as compared to the previous year. Rentals in Gurgaon and Noida for office spaces remained stable in 2013.